Abtrace co-founder and CEO, Dr. Umar Naeem Ahmad told the media, “Abtrace is part of the paradigm shift: from reactive to proactive care, from late diagnosis to early detection, from healthcare records that just store data to intelligent predictive systems that use it to improve and save lives.

“Our results so far have been hugely encouraging and we’re delighted that these investors have made it possible to expand our reach to help more patients.”

The startup, which was established in 2018 by NHS doctors, has developed an AI tool that can be plugged into the Electronic Health Record (EHR) database to identify which tests or treatments a patient with a long-term health condition needs or might benefit from.

Last week, it was reported that UK HealthCare will offer a third dose of the Pfizer-BioNTech and Moderna Covid-19 vaccines for solid-organ transplant recipients and other immunocompromised individuals. This will be done in accordance with guidance from the FDA and the CDC.

Currently, only immunocompromised individuals who are 18 years or older are eligible for a third-dose booster vaccination. Individuals who have previously received two doses of either of the vaccines are eligible to request the third dose.

The post London-based healthtech Abtrace raises £2.1 mn to enhance tech capabilities appeared first on International Finance.

Pfizer previously bought stakes in Trillium Therapeutics last year in a deal worth $25 million. Trillium develops drugs that boost patients’ innate immune systems to detect and destroy cancer cells.

Recently, the Food and Drug Administration (FDA) granted full approval to Pfizer-BioNTech’s coronavirus vaccine for people who are 16 and older.

Dr. Janet Woodcock, the acting FDA commissioner, said in a statement, “While millions of people have already safely received COVID-19 vaccines, we recognize that for some, the FDA approval of a vaccine may now instill additional confidence to get vaccinated. Today’s milestone puts us one step closer to altering the course of this pandemic in the US.”

In May, it was reported that Spain is set to receive almost 94 million doses of Pfizer vaccine to help fight the country against Covid-19. A government spokeswoman announced that between December 2021 and June 2023, the country will receive these doses, which is a part of the European Union purchase.

She also said that the number of vaccine doses sent to the country is equivalent to twice the target population. It is also important to keep in mind that 8.1 million people have already received their full course of vaccinations in Spain.

The post Pfizer to buy remaining shares of Trillium Therapeutics for $2.26 bn appeared first on International Finance.

BioNTech and US-based drug manufacturer Pfizer have signed contracts to deliver around 2.2 billion doses of the Covid-19 vaccine this year and more than 1 billion doses in 2022. BioNTech’s largest plant in Marburg, Germany, has a manufacturing capacity of 1 billion doses per year.

BioNTech also raised its forecast for this year’s Covid-19 vaccine sales to €15.9 billion. Previously, it forecasted revenue to be around €12.4 billion.

BioNTech also wants to eradicate malaria by using the revolutionary mRNA technology, the same technology was used to develop the vaccine for the Covid-19 virus.

BioNTech has revealed that it will begin clinical malaria vaccine trials by the end of 2022. Malaria kills around 400,000 people each year, many of them being African children.

BioNTech CEO Ugur Sahin said in a statement, “We will do whatever it takes to develop a safe and effective mRNA-based malaria vaccine that will prevent the disease, reduce mortality and ensure a sustainable solution for the African continent and other regions affected by this disease.”

The breakthrough project is being backed by the World Health Organization, the Africa Centers for Disease Control and Prevention and the European Union.

The post BioNTech’s Covid-19 vaccine success to boost domestic economy appeared first on International Finance.

According to a Spanish study, which is based on mixing Covid-19 doses, it was found that giving a dose of Pfizer’s drug to people who already received the first shot of AstraZeneca is highly safe and effective. The study is run by Spain’s state-backed Carlos III Health Institute found that the presence of IgG antibodies in the bloodstream was between 30 and 40 times higher in people who received the follow-up Pfizer shot compared to those who only received one Astrazenca dose.

The study also found that the presence of neutralising antibodies increased seven times after receiving a Pfizer dose, which is significantly higher than the second AstraZenca shot.

In the UK, a ‘mix and match’ study recently showed that people vaccinated with a shot of Pfizer’s vaccine followed by a dose of AstraZeneca’s, or vice versa, were more likely to report mild or moderate symptoms such as headaches or chills, compared to the ones who received two doses of the same type.

The post Spain to receive 96 mn Pfizer vaccine doses by June 2023 appeared first on International Finance.

While releasing the statement of the first-quarter results, they also focused on the fact that the output capacity for the vaccine would reach around 3 billion doses by the end of 2021, and they expect to produce another 3 billion doses by the end of 2022.

Last week, Pfizer also announced that both the pharma are targeting to produce as many as 4 billion doses by next year which will primarily cater to low and middle-income countries. Going to the delivery contracts, the company said that they are expecting a revenue of 12.4 billion Euros from the vaccines this year, which will include sales, milestone payments from partners, and a share of gross profits in the partners’ territories. Previously, it was forecast by the company that they were expecting revenue of 9.8 billion euros.

More than 450 million doses of the two-shot vaccine known as Comirnaty were administered globally as of May 6, 2021. Compared to that, AstraZeneca has pledged to deliver up to 3 billion doses this year, and according to their announcement, the pharma has supplied more than 300 million doses as of now, which includes production from their partners like Serum Institute of India.

Both BioNTech and Pfizer have not faced production setbacks which were witnessed by AstraZeneca, Johnson & Johnson. Earlier on Monday, BioNTech unveiled its plans to set up a new factory in Singapore where they are expected to produce several hundred million doses of mRNA vaccines every year from 2023.

The post BioNTech to deliver 1.2 bn doses of Covid-19 vaccines this year appeared first on International Finance.

The letter read, “Covid-19 has infected over 148 million people and killed over three million globally, with hundreds of thousands of new cases and thousands of deaths being reported daily.”

Those senators are Elizabeth Warren, Edward J Markey, Tammy Baldwin, Jeffrey A Merkley, and Christopher Murphy. They further said, “Though Pfizer, Moderna, Johnson & Johnson, and other companies have developed safe and effective Covid-19 vaccines, the uncontrolled spread of coronavirus poses significant risks to global vaccination efforts: as the virus proliferates, it is evolves increasing the risk of a variant developing that renders vaccinations ineffective.”

Recently, Covid-19 cases have surged in India. The country has reported more than 300,000 thousand cases each day for the last two weeks. The senators also noted that India, which produces the Oxford/AstraZeneca Covid-19 vaccine, has so far exported more than 66 million doses globally this year.

“Though wealthier countries, including the US, have successfully secured vaccines and have made significant strides in vaccinating their populations, many middle- and lower-income nations have less access to vaccine doses. A recent study estimates that unequal global vaccine distribution could result in a gross domestic product loss of $1.2 trillion annually for the global economy,” the senators added.

The post US senators call for global access of Pfizer, Moderna Covid-19 vaccines appeared first on International Finance.

Japanese Prime Minister Yoshihide Suga revealed that the vaccination programme in the country will start in the middle of next week. He further revealed that around 10,000 health workers will receive the jab in the first batch. About 3.7 million other medical workers will be next, followed by elderly people, who are expected to get their shots in April. Japan is planning to vaccinate its entire population, which is around 126 million people by mid-2021.

It is also reported that the Pfizer vaccine has arrived in Australia earlier today. The country is expected to begin its vaccination programme form February 22, 2021. The authorities are expected to administer around 50,000 doses to vaccinate frontline quarantine and health workers, and 30,000 to aged care and disability care residents and workers.

In this regard, Australian Health Minister Greg Hunt told the media, “They will now be subject to security, quality assurance, in particular, to ensure that temperature maintenance has been preserved throughout the course of the flight, to ensure the integrity of the doses, and to ensure there has been no damage.”

Pfizer, which is headquartered in New York is one of the largest drugmakers in the world. In May 2020, Pfizer began testing four different Covid-19 vaccine variations. Currently, it is supplying the vaccine to numerous countries across the world.

The post Japan approves Pfizer’s Covid-19 vaccine appeared first on International Finance.

The funding round for Sirnaomics was co-led by existing Chinese investor Rotating Boulder Fund, a Shenzhen-based equity investment firm, vaccines developer Walvax Biotechnology and private equity fund manager Sunshine Riverhead Capital.

Chinese healthcare-focused VC firm Sangel Capital, Longmen Capital, HongTao Capital, and Alpha Win Capital also participated in the Series D round. Meanwhile Chinese Renaissance and Huatai Financial Holdings served as the financial advisors, according to reports.

Patrick Lu, group founder, president and CEO at Siranomics, in a statement, “The syndicate of investors will not only strengthen our financial foundation, but also bring tremendous experience and expertise to Sirnaomics as it enters the next phase of growth and prepares for an initial public offering in near future.”

Last month, American multinational pharmaceutical company Pfizer has agreed to buy a 9.9 percent stake in China-based Cstone Pharmaceuticals. Pfizer agreed to buy 115.93 million new shares of CStone at HK$13.37 apiece, representing a 43.8 percent premium over the closing price of HK$9.30.

CStone said in a security exchange filing that it will use the proceeds from the share sale to fund development activities and strategic collaboration.

It was reported that the transaction has received the necessary internal approvals of both companies. Closing is not subject to approval by CStone’s shareholders. While Goldman Sachs is acting as financial advisor to CStone, Cooley LLP served as legal advisor. Clifford Chance LLP served as Pfizer’s legal advisor.

The post Chinese investors participate in biopharmaceutical firm Sirnaomic’s funding round appeared first on International Finance.

Pfizer has agreed to buy 115.93 million new shares of CStone at HK$13.37 apiece, representing a 43.8 percent premium over the closing price of HK$9.30 on Tuesday.

CStone said in a security exchange filing that it will use the proceeds from the share sale to fund development activities and strategic collaboration.

It is reported that the transaction has received the necessary internal approvals of both companies. Closing is not subject to approval by CStone’s shareholders. While Goldman Sachs is acting as financial advisor to CStone, Cooley LLP served as legal advisor. Clifford Chance LLP served as Pfizer’s legal advisor.

The Shanghai-based pharmaceuticals company said the deal would allow it to focus on product development and strengthen its ability to commercialise CS1001 – an anti-PD-L1 monoclonal antibody.

CStone and Pfizer will develop and commercialise additional late-stage oncology therapies in Greater China, Pfizer said in a statement.

Frank Jiang, chairman and chief executive officer at CStone told the media, “Pfizer’s investment in CStone is a statement of its confidence in the potential of our anti-PD-L1 treatment and recognition of our research and development capabilities. By joining forces with Pfizer and leveraging its commercialisation infrastructure, we will ensure that patients across a vastly expanded number of markets in China have quicker access to our highly differentiated PD-L1 treatment. In addition, we have advanced our transformation into a full-fledged biopharmaceutical company by forging a collaboration that will enable us to accelerate development and commercialisation of globally innovative therapies for Chinese patients.”

The post Pfizer agrees to buy 9.9% stake in China’s CStone Pharmaceuticals appeared first on International Finance.

GSK has categorised three of its non-essential drugs into three separate portfolios. In addition, the company has brought on-board an independent investment bank Greenhill who will sell the products to different bidders. 

Earlier this week, two portfolios comprising Latin American drugs and Physiogel skin care products were marketed to potential bidders. The third portfolio of European drugs will be sold with a higher pricing. The reason is that the European drugs have gained more interest from private equity investors.

GSK expects to raise the stipulated amount through the sale of these consumer health drugs.

The company is planning a spinoff of its consumer healthcare business, creating a new joint venture in collaboration with Pfizer, an American multinational pharmaceutical company. The venture might take place in the second half of 2019 and will target the US and China markets.

If all goes as planned, GSK will be divided into two sets of business, with one focused on consumers and the other one pharmaceutical and vaccines, the media report said.

GSK’s popular consumer brand business including Sensodyne holds a 68 percent stake in the Pfizer partnership. According to the media report, it seems that the three of GSK product portfolios have combined revenues between  £200 billion and £300 billion. That said, the European portfolio covers 40 percent of the overall sales.

American private equity company Advent International is anticipated to be a potential bidder for GSK’s European portfolio. Other bidders include CVC Capital Partners in addition to Bain Capital and Cinven consortium.

The post GSK starts sale of select consumer health drugs ahead of spinoff appeared first on International Finance.