This week we take a look at FDA’s approval for a drug for a pesky issue plaguing older women: hot flashes & night sweats, successful funding efforts by Hippocratic AI & Nido as well as other top news!
The FDA has granted approval for a new drug named Veozah designed to treat night sweats and hot flashes. This drug, developed by Astellas Pharma, aims to provide relief to individuals experiencing these menopause-related symptoms. Clinical trials demonstrated its effectiveness in reducing the frequency and severity of night sweats and hot flashes. The drug’s approval offers hope to women who often experience discomfort and sleep disturbances due to these symptoms. With the availability of this new treatment option, individuals may find significant relief from the challenges associated with menopause-related night sweats and hot flashes.
A healthcare-focused startup named Hippocratic AI has successfully secured $50 million in funding from General Catalyst and a16z to develop generative artificial intelligence (AI) technologies. The startup aims to leverage AI to enhance healthcare services and improve patient outcomes. Generative AI has the potential to revolutionize various aspects of healthcare, including drug discovery, patient diagnosis, and personalized treatment plans. By receiving this substantial investment, the startup can further develop and refine its AI algorithms, bringing them closer to real-world application. This funding milestone marks an important step towards advancing the integration of AI into the healthcare industry.
Gene therapy company Uniqure has announced the sale of its royalty rights for a hemophilia gene therapy treatment to investment firm Royalty Pharma. Under the agreement, Royalty Pharma will pay $450 million upfront to Uniqure, securing the rights to receive royalties from the therapy’s future sales. This transaction allows Uniqure to generate immediate capital and strengthen its financial position while still retaining the development and commercialization rights for the therapy. The proceeds from the sale will support Uniqure’s continued research and development efforts in gene therapy, potentially leading to further advancements in the treatment of hemophilia and other genetic disorders.
IntraOp Medical Corporation has announced the initiation of a Phase II clinical trial for its groundbreaking carcinoma therapy. The trial aims to evaluate the effectiveness and safety of the therapy in treating various types of carcinoma, including breast, colorectal, and lung cancers. IntraOp’s therapy utilizes a combination of intraoperative electron radiation therapy (IOERT) and targeted chemotherapy. The unique approach allows for the precise delivery of high-dose radiation directly to the tumor site during surgery, potentially enhancing treatment outcomes while minimizing side effects. The Phase II trial will provide valuable insights into the therapy’s efficacy, paving the way for future advancements in carcinoma treatment.
Nido, a pharmaceutical company focused on developing precision brain drugs, has raised an impressive $109 million in its debut funding round. The company aims to utilize this funding to advance its innovative therapies targeting brain disorders. Nido’s approach involves leveraging breakthroughs in neuroscience and genetics to create personalized treatments that address the specific biological mechanisms underlying neurological conditions. By securing this significant investment, Nido is well-positioned to accelerate its research and development efforts and bring its precision brain drugs closer to clinical application. The funding received highlights the growing interest and support for precision medicine in the field of neuroscience.
Exclusive Sponsor: Axtria – the leading global provider of cloud software and data analytics solutions to the life sciences industry.