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Achieve Life Sciences, Inc. (NASDAQ:ACHV) Q3 2022 Earnings Call Transcript

Life Sciences Inc.

Achieve life sciences, miss income expectations. EPS came in at $1.35 per share compared to the expected $1.13 per share.

Operator : Ladies and gentlemen, good afternoon, and welcome to the Life Sciences Third Quarter 2022 Revenue Call. All lines have been converted to Listen Only mode. The forum will be open for questions and comments after the presentation. In the meantime, I’d like to turn the floor over to your host, Nicole Jones, Investor Relations Specialist at CG Capital. Madam, you have the floor.

Photo by Yulia Koblitz on Unsplash

NICOLE JONES: Thanks operator. In today’s conversation with Axeve, John Bencic, CEO; and chief accountant Jerry Wang. After the prepared comments, Success Management will be available for questions and answers. I would like to remind everyone that today’s call contains forward-looking statements that are based on current expectations. These statements are only projections and actual results may differ from those anticipated. Please refer to Achieve’s SEC filings which may affect the company. I will now hand over to John.

John Bencic: Thank you, Nicole, and thank you to everyone who joined us today. Once again, the success quarter was a busy and exciting one. As we continue to push cytocycline through the clinic, we are poised to become the first new treatment for nicotine addiction in nearly two decades. In September, we announced the completion of targeted recruitment of participants for our Phase III ORCA-3 confirmation study on smoking cessation. And just last week, we announced that the Phase II trial of ORCA-V1 for nicotine e-cigarettes, or smoking cessation, completed better than expected. Of note, the ORCA-3 trial is the second and final phase III randomized trial that requires FDA submission and potential marketing authorization in the United States.

The design replicates the experience of the previous ORCA-2, which yielded excellent results earlier this year. Both trials were designed to evaluate the efficacy, safety, and tolerability of cytocycline 3 mg. The trials share the same primary endpoint for smoking cessation in the past 4 weeks, which is the primary endpoint for FDA-approved smoking cessation medications. The ORCA-2 results, if confirmed, would further solidify our belief that cyclicine could become the new gold standard in the treatment of nicotine addiction. Given the unequivocal incidence of side effects, the side effect profile of cycline is better than that of currently available therapies.

In terms of effectiveness, the odds ratio we observed with ORCA-2 at the end of treatment was six to eight times higher than placebo. Moreover, despite the high participation of the research team and the effectiveness of the trials during the outbreak, our dropout rate was extraordinary. We look forward to seeing similar results from ORCA-3 and look forward to sharing them with you in the second quarter of 2023. Vaping remains an important topic worldwide, especially given the alarming number of teens using it and the new evidence of harmful effects Potential on the cardiovascular system and respiratory system. More than 2.5 million middle and high school students in the United States alone use e-cigarettes, according to data released by the Center for Disease Control (CDC) last week.

More than 11 million adults in the United States use nicotine, and there is currently no approved treatment for smoking cessation. We initiated the ORCA-V1 trial expecting the steady cycle to be of benefit to this growing and overexerted population. The rapid recruitment of ORCA-V1 supports our hypothesis of a therapeutic need in this population. The target recruitment of 150 ORCA-V1 subjects was completed within four months, with recruitment completed at only five clinical trial sites. By design, ORCA-V1 will evaluate a 12-week course of citiccycline versus placebo. As with other ORCA studies, all participants will receive behavioral support during the study. The primary objective will be to assess successful nicotine withdrawal, defined as weekly abstinence from sex over the past 4 weeks, with cotinine levels as a biochemical evidence of abstinence.

ORCA-V1 data is expected to be available in the second quarter of 2023. After two test cases, we will focus on three main issues in the coming months. First, ongoing communication with the ORCA-3 and ORCA-V1 clinical trial centers and third-party clinical research organization to ensure data is accurate and timely. Second, careful preparation for the US NDA implementation, including successful results from the ORCA-3 trials, and completion of the remaining additional trials required for the application. Third, commercial readiness, including initiating preparatory activities and discussing partnerships with stakeholders with the greatest potential for citcycline.

We also continue to work closely with our manufacturing partner Sofarma to ensure there is sufficient commercial potential at launch as part of our commercial readiness objective. As we announced today, Sopharma recently invested over €3 million to complete construction of a new cytocycline API purification facility and main production facility in Sofia. The new API package complements Sopharma’s annual production of nearly three billion tablets. Now I’d like to take Jerry’s call regarding our third quarter financial results.

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Jerry Wang : Thank you, John. I will provide an update on our cash position as of September 30, 2022 and review our operating expenses for the third quarter. As of September 30, 2022, cash and cash equivalents, short-term investments, and restricted cash were $18.2 million compared to $43 million as at December 31, 2021. Our financial projections include a $2.5 million grant from the National Institutes of Health. Supporting the ORCA-V1 phase II study to evaluate the use of cetirizine as a nicotine stopping agent for e-cigarettes. Of note, about half of the ORCA-V1 trials are funded by a grant from the National Institutes of Health. According to the income statement, net loss for the quarter ended September 30, 2022 increased to $13.1 million from $6.7 million for the same quarter of 2021.

For the nine months ended September 30, 2022, net loss increased to $31.1 million, compared to $26 million for the same period in 2021. Operating expenses increased in the third quarter due to the testing and operation of ORCA-3 and the achievement of planned acceptance. In our experience ORCA-V1. We expect our quarterly operating expenses to be higher in the fourth quarter of this year and then decrease in the first half of 2023 after the completion of the ORCA-3 and ORCA-V1 trials. This concludes my financial comment. I will now hand over to John.

John Bencic: Thank you, Jerry. 2022 is critical to success, with key milestones being the results of the Phase 3 trial and the completion of enrollments in two other major studies. We are excited to continue advancing our process and are committed to advancing this important new treatment. Cigarette and nicotine addiction directly affects more than 1 billion people worldwide. In the United States alone, more than 30 million people smoke cigarettes, and about 0.5 million people die from smoking-related diseases. According to the analysis, 80% of new smokers who want to quit smoking are interested in new smoking products.

We think it would be better for Cytocycline in the class, 93% of them want something new. Existing treatments are very troublesome for smokers and addicts alike, and new options are long overdue. Much more needs to be done to help people who want to quit smoking improve and extend their lives. At Cytocycline, we believe we have a unique opportunity and responsibility to make a real difference. Thanks again everyone for your continued support and for joining us today. Now I would like to transfer the call to the operator and open the line for questions.

Click here to continue reading the Q&A session.

King 2022 distributed the full list of 37 companies

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Looking Into Alimera Sciences’s Return On Capital Employed

Looking Into Alimera Sciences's Return On Capital Employed

© Courtesy of Benzing

Alimera Sciences (NASDAQ:ALIM) had sales of $1,360,000 during the third quarter, according to Benzinga Pro . Profit fell to $5.26 million, down 68.76% from last quarter. In the second quarter, Alimera Sciences posted revenue of $1,460,000, but lost $3,120,000 in profit.

What is growing?

Return on invested capital is a measure of a firm's annual gross profit on invested capital. Changes in revenue and sales indicate changes in a company's ROCE. A higher ROCE usually indicates successful company growth and is a sign of higher earnings per share in the future. A low or negative ROCE indicates the opposite. Alimera Sciences reported a ROCE of 0.29% in the third quarter.

Note that although ROCE is a good measure of a company's recent performance, it is not a reliable predictor of a company's profits or sales in the near future.

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ROCE is a powerful indicator for comparing capital allocation efficiency for similar companies. A relatively high ROCE indicates that Alimera Sciences can operate at a higher efficiency than other companies in its industry. If a company earns a high return on its current level of capital, some of that money can be reinvested in additional capital, which usually results in higher returns and ultimately higher earnings per share (EPS).

For Alimera Sciences, positive ROI of 0.29% indicates that management is deploying its capital effectively. Effective capital allocation is a positive indicator that a business will achieve long-term success and favorable long-term profitability.

Analysts forecast

Alimera Sciences reported Q3 EPS of -$0.75 per share, missing analysts' expectations of -$0.4 per share.

This article was generated using Benzinga's automated content engine and reviewed by an editor.

Alimera Sciences – OIS@AAO 2015

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WestConn Senate Votes Against Cutting Social Sciences Majors — But The Programs Aren’t Saved Yet

WestConn Senate Votes Against Cutting Social Sciences Majors — But The Programs Aren't Saved Yet

Danbury, Western Connecticut State University's Senate overwhelmingly rejected the university's current president's proposal to eliminate four social science graduate programs, but opponents worry the plan isn't dead.

Faculty and students protested plans by university officials to scrap major courses in economics, social sciences, meteorology, anthropology and sociology.

The Senate this week rejected all four major proposed cuts; in economics by 21 votes to 4; in anthropology and sociology – 20 votes "for" and 4 "against"; in social sciences – 19 votes "for" and 4 "against"; In Meteorology, the score was 21:2. Now President-elect Paul Beran must decide whether to follow the Senate's advice or advise the Board of Trustees to eliminate the seniors.

Monday's vote comes at the end of a 60-day period that allows interested parties to publicly testify and argue their position on keeping or eliminating large companies.

Public testimony ends Wednesday, but a university spokeswoman said Beran's decisions likely won't be made "for some time."

"During the joint governance process, there have been many discussions that have presented alternatives to the original proposal and we will continue to discuss them with the relevant parties," Beran said on Tuesday.

Rotua Lumbantobing, professor of economics and president of the WSCU chapter of the Association of American University Professors, is one of many professors who oppose the proposal to eliminate graduate programs.

He pointed out that the decision made by the members of the senate on Beran's last proposal is rejected and will be submitted to the Council of Regions for final approval.

"This process was rigged from the beginning," Lumbantobing said after the vote, adding that she and other teachers don't expect Bera to change his mind.

Lumbantobing added: "He has received an order from the Governing Council, so we expect it to be implemented."

The state Board of Regents, the body responsible for overseeing Connecticut's public higher education system, hired Berra over the summer to replace John Clark, who was voted out of confidence by disaffected faculty members in June. Reserve funds have been 99 percent depleted, in addition to other "severe" financial problems identified in a report earlier this year.

The report from the National Center for Higher Education Management Systems calls, among other things, for the university to review its curriculum and programs. This includes assessing whether you can continue to supply all low-grade items.

Byrne, who has spent his career managing state universities such as Arkansas, Oklahoma and South Dakota, told the News-Times in August that he was hired by WCSU to handle financial issues and discuss a "black and white new" school. Budget. Off" ".red" to report.

A university spokeswoman said an analysis of enrollment and retention trends data showed a drop in enrollment and less interest in the social science courses it proposed to exclude, but courses in all disciplines were still declining. – Students and college students.

After the move, there will be no teacher cuts, and students currently enrolled in major programs will complete their studies and receive degrees.

According to the university, WCSU currently has 22 economics majors, 19 anthropology and sociology majors, 10 social science majors, approximately 42 political science majors and 34 meteorology majors. In the year In 2017, the university reported awarding 22 undergraduate degrees in anthropology/sociology, 21 undergraduate degrees in business administration, 47 undergraduate degrees in political science, 26 undergraduate degrees in social science, and 34 undergraduate degrees in meteorology.

When Bera submits a proposal in its current form or revised form, the National Research Council Committee reviews it and the Regency Council decides whether to approve or reject the recommendations.

Lumbantobing admitted that she and other faculty members were not hopeful graduate programs would be supported, but said the rally was planned for the Feb. 3 board of trustees meeting.

"All public universities and community colleges are in short supply, which suggests that the state should either give us funding or give us more money, especially when it comes to declining enrollment," he said.

An evening of conversation with Dr. Yuval Levin et al. William Galston, by Dr. Daniel Barrett.

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Is Gilead Sciences A Buy?

Is Gilead Sciences A Buy?

Will Gilead Science be bought? © Provided by The Motley Fool Is Gilead Science a buy?

Gilead Sciences (NASDAQ: GILD) is a leading healthcare company that derives the majority of its sales from drugs used to treat HIV. And he has an exciting new treatment, lenacapavir, that, if approved by the authorities, could be a game changer for HIV patients and drive significant growth for Gilead.

Given the stability the company offers investors, strong earnings, and attractive growth prospects, it's no wonder the stock has performed so well this year, up more than 20% so far. But given that the stock is now trading near a 52-week high, is Gilead still a good buy?

Lenacapavir news could push stocks higher

Lenacapavir is an HIV treatment that only requires patients to receive one injection twice a year. This is a significant change from the daily pill that many HIV patients take today. While injectable medications may be less desirable than oral medications, the frequency with which patients must administer them can make them a much-needed option.

At its peak, lenacapavir could generate more than $4 billion in sales. This would make it one of the company's best-selling drugs. Last year, only Biktarvy, another HIV drug (a daily pill), made more money, with sales of over $8.6 billion. The Food and Drug Administration accepted Gilead's new application for the drug lenacapavir earlier this year and scheduled the PDUFA for Dec. 27, meaning a decision on treatment should be made soon.

This positive news front could easily propel Gilead stock to new highs as it would open up huge growth opportunities for the company. And the company recently announced strong results.

The latest results are better than they look

In its third-quarter earnings report (for the period ended Sept. 30), Gilead's revenue disappointed by more than $7 billion and fell 5% year over year. But excluding the COVID-19 treatment, Veklury's sales rose 11%. Many industries are showing impressive growth.

Trodelvy Cancer Care, which is still in the early stages of growth, had revenue of $180 million for the quarter, up 78% from the same period last year. Gilead's cell therapy product sales rose 79% to $398 million, and sales of its hepatitis C drugs rose 22% to $524 million. Its core HIV business also generated revenue of $4.5 billion, up 7% year over year.

Gilead's business has been strong lately, and while expenses rose last quarter, primarily due to contract-related R&D costs (a one-time fee from a recent acquisition), the company's margins and operating practices have surprisingly improved . %. Revenues.

Investors also receive strong dividends

Gilead is also a good returnee. It gained 3.3%, nearly double the S&P 500 average of 1.7%.

The company has increased its payouts over the years, with the current quarterly dividend of $0.73 being higher than the $0.52 Gilead paid five years ago. And with Gilead's trailing-12-month free cash flow of $9 billion, Gilead is in a good position to keep increasing its payout, which has cost the company $3.7 billion over the trailing 12 months. Gilead's earnings don't appear to be in jeopardy, and this is a boost investors can count on for the foreseeable future.

Gilead is still a good buy today

At 34 times earnings, Gilead stock looks expensive (the healthcare industry average is 23), but it's also high as the company's recent earnings report, which said research and development costs have risen, weighs on earnings Has. Based on analyst forecasts, Gilead is trading at a multiple of 13 times future earnings, down from the industry average of 17.

Although Gilead has appreciated in value, it's still an investment that offers investors a lot of value and could be a great stock to own in 2023. Given its earnings, the company's growth, and the potential that lenacapavir has to offer, the stock could be a solid and profitable dividend for your portfolio for years to come. .

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Deloitte Names Pete Lyons National Sector Leader For Life Sciences Practice

Deloitte Names Pete Lyons National Sector Leader For Life Sciences Practice

Leon brings more than 25 years of experience to the role, including helping life sciences companies implement significant changes across the strategy, operations and technology spectrum.

BOSTON , Dec. 6 , 2022 /PRNewswire/ — Deloitte has appointed Pete Lyons as National Director of its US Life Sciences Practice. Head of Marketing Portfolio and Head of US Deloitte Digital.

As used in this document,

In his new role, Lyons will lead a multidisciplinary team serving pharmaceutical, biotechnology, medical device and consumer healthcare clients with consulting, advisory, audit and tax services.

“Pete has the experience and talent to leverage our people and expertise across insurance, consulting, advisory and tax practices to drive the digital transformation of our global industry and solve our clients’ most pressing challenges,” said Asaf Dar , MD. Vice President and Industry Leader, US Life Sciences and Healthcare, Deloitte LLP. “Consumers and physicians alike rely on life sciences companies to help them overcome challenges like epidemics, find cures for diseases, and improve health and well-being, and I’m excited to have Pete lead the way and help our customers reach new heights.” About ways to improve. It lives all over the world.”

Lyons will be responsible for the overall strategic direction and go-to-market strategy and resources for Deloitte’s life sciences practice. He will continue to be a leading life sciences consultant in the US.

“The life sciences have never been more interesting, and I continue to be inspired by organizations that solve the world’s most pressing health problems by leading the unity of people, processes and technologies,” said Lyons. “Our job is to help them focus on what they do best: bringing treatments, therapies, devices and medicines to market, and I’m confident that we can do this with our talented teams, commitment and dedication to innovation: helping our customers succeed towards a more equitable future.”

With 25 years of experience, Lyons served as US Client Lead Consultant, where he was responsible for managing the entire client portfolio and effectively marketing Deloitte’s services through his client managers. He holds a bachelor’s degree in economics and information systems from Boston College and a bachelor’s degree from Northwestern University’s Kellogg School of Management .

About Deloitte
Deloitte provides industry-leading assurance, consulting, tax and advisory services to many of the world’s leading brands, including nearly 90% of the Fortune 500® and more than 7,000 privately held companies. By doing well, our people work in the areas that drive and shape today’s markets, deliver measurable and sustainable results, help build public confidence in our financial markets, inspire and help clients turn challenges into transformational opportunities and see growth. It has paved the way to a stronger economy and a healthier society. Deloitte is proud to be part of the largest global network of professional services for our clients. Based on over 175 years of service, our network of member companies covers 150 countries and territories. Visit www.deloitte.com to learn how more than 415,000 Deloitte employees around the world are connecting to make a difference.

Deloitte refers to Deloitte Touche Tohmatsu Limited, a UK limited company (“DTTL”), its network of member firms and its subsidiaries. DTTL and each of its member companies are legally separate and independent entities. DTTL (aka “Deloitte Global”) does not provide customer service. In the United States , Deloitte refers to one or more US-based Deloitte companies operating in the United States under the Deloitte name and under their respective umbrellas. Certain services may not be available to clients for audit purposes in accordance with public accounting rules and regulations. To learn more about our global network of member firms, visit www.deloitte.com/about.

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Women’s Health Advocate Amy Schumer Joins TMRW Life Sciences As Investor

Women's Health Advocate Amy Schumer Joins TMRW Life Sciences As Investor

Comedian and activist joins Google Ventures, 5AM Ventures, Transformation Capital and G9 Ventures to set a new standard in infertility treatment

NEW YORK, Dec. 1, 2022 /PRNewswire/ — TMRW Life Sciences, Inc. (TMRW), creator of the world's first and only software-based automated sample management platform for frozen eggs and embryos used for intravenous fertilization vitro (IVF), announced today that award-winning actress, New York Times bestselling author and IVF patient author Amy Schumer becomes a new investor in TMRW.

"I'm very grateful to be a mom, but it's a long and difficult process," said Schumer, who spoke about her experiences with hyperemesis gravidarum, endometriosis and IVF. “When I went through the IVF procedure, it was physically and emotionally draining and there was a lot of uncertainty. It never occurred to me to ask how my embryos were handled and stored. That is why I am proud to invest in TMRW. Their technology lab is transforming the fertility industry by making processes safer and more transparent so patients have one less problem to worry about.”

Since the introduction of human IVF over 40 years ago, significant advances in treatment have been made; However, the organization and handling of frozen oocytes and embryos remain largely unchanged. Embryologists still perform manual tasks, which are time-consuming and often error-prone, primarily using small handwritten labels and paper journals. By deploying TMRW's unique digital supply chain and technology platform, physicians and patients gain unprecedented visibility, security, and peace of mind, freeing physicians to focus on what they do best: raising families.

“Patients are becoming more educated and informed about how their frozen eggs or embryos will be handled when undergoing IVF or egg freezing. As an IVF mom, I know firsthand the comfort that more information and transparency brings,” said Tara Komont, Executive Director of TMRW. “Our technology is designed with security and transparency in mind, allowing clinicians and patients to be continuously monitored, managed and stored. These are precious frozen eggs and embryos. possible; We are proud to have him join us on this mission."

TMRW Life Sciences has developed the only FDA-cleared automated solution that digitally monitors and manages frozen eggs and embryos used in IVF. The TMRW platform has been adopted by world-renowned clinics across the country, including Vios Fertility/Kindbody, Boston IVF, CCRM Fertility; San Diego Center for Reproductive Medicine, Colorado Reproductive Technology Association, Institute of Reproductive Medicine and Science, and RMA New York .

TMRW's integrated software and hardware systems for clinics and patients usher in a new era of infertility treatment where advanced technology and automation are the norm, not the exception.

About TMRW Life Sciences, Inc.

Founded in 2018, TMRW Life Sciences, Inc. is a life sciences technology company committed to safety and transparency in IVF modernization and transformation. For the first time, frozen eggs and embryos can be digitally identified and tracked, safely handled with automated robotics, and remotely monitored 24/7. With proprietary RFID-enabled lab equipment and an integrated software management solution, TMRW protects life's most valuable cells. Named by Fast Company as the Most Innovative Biotech Company of 2022, TMRW has been adopted by leading clinics in the US and will soon be available in the UK and Europe. With continued significant growth in fertility services and an expected increase in IVF births, TMRW provides a scalable solution for clinics, bringing frozen embryo and egg care into the 21st century. For more information, visit www.tmrw.org .

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Why Shares Of Anavex Life Sciences Slumped 23.5% On Monday

Why Shares Of Anavex Life Sciences Slumped 23.5% On Monday

Because Anavex Life Sciences shares fell 23.5% on Monday. © Courtesy of Motley Fool . Why Anavex Life Sciences Shares Dropped 23.5% Monday

what happened

Shares of Anavex Life Sciences (NASDAQ: AVXL ) , a clinical-stage biotech company specializing in the treatment of neurodegenerative and neurodevelopmental disorders, fell 23.5% on Monday. Shares closed Friday at $11.89. After opening Monday at $12.46, it rose to $12.49 before falling for much of the rest of the session, falling to $8.86 in the afternoon and closing the session at $9.10. The stock is down more than 47% this year, hitting a 52-week high of $21.30 and a 52-week low of $7.13.

for

On Monday, the company will publish financial results for the fourth quarter. Anavex was not profitable, but losses exceeded expectations. It reported a net loss of $14.3 million ($0.18 per share) for the period ended Sept. 30, compared with a net loss of $11.7 million ($0.15 per share) in the same period quarter of last year.

Anavex lost $48 million ($0.62 per share) for the fiscal year, compared with a loss of $37.9 million ($0.54 per share) in fiscal 2021. Despite those lackluster numbers, some investors see potential for the candidate’s systemic central nervous system therapy.

What now

Despite the disappointing numbers, the most important indication for Anavex will come on Dec. 1, when data from Anavex 2-73, the lead Alzheimer’s drug, will be presented at the Alzheimer’s Congress in San Francisco. Anavex 2-73 is currently in a phase 2b/3 study. The path to a potential Alzheimer’s treatment has been filled with disappointments, so some information about the trial may have leaked out early. The biotech company’s drug was touted as an alternative treatment for Rett syndrome, a neurodevelopmental disorder that only affects girls, and Parkinson’s disease.

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Key Life Sciences Stakeholders Launch Representative Term Sheet

Key Life Sciences Stakeholders Launch Representative Term Sheet

The new collaboration between academic tech transfer experts, venture capitalists and law firms provides a platform for life science startups.

The collaboration will leverage life science entrepreneurs to create new businesses based on their discoveries and innovations.

Simplifying the path to life sciences transactions will lead to an overall improvement in healthcare options for patients.

PALO ALTO, Calif., November 28, 2022 –( BUSINESS WIRE )–As of the spring of 2020, the group of academic institutions, investors, and law firms listed below have been collaborating to coin the term "representation." A worksheet that an investor and academic institution can use to start a conversation about starting a new life science business. The goal was to create a reasonable approach with terms and conditions that most parties could use in most situations. The philosophical framework can be found here: "Guidelines for Life Sciences University Startups" and "Recommended Process Improvements for Life Sciences Universities Startups" originally published in December 2020.

Since then, the creators have incorporated these principles into a sample word sheet (available in PDF and Word versions) with complete words, which any entity can download and use for free. The hope is to dramatically reduce the time it takes to negotiate these early-stage life science deals, which can bring therapeutic, diagnostic and therapeutic devices to market months or years earlier, with benefits similar for patients around the world.

Important Note: The authors use the word "representative" to describe the list of terms, as most terms are considered reasonable by both parties. Therefore, the term list can be used in many contexts without further content modification. However, it should be noted that each institution or investor may have a preferred approach or guidelines that may leave a strong impression on you. For example, some companies have particularly strong positions on securing revenue, securing rights, or future expansion, and some investors have similar positions on equity, success fees, or board seats. . In fact, it would be impossible to create a single document containing all possible options. Therefore, some Participating Organizations and others may need to use alternative approaches to those described in the Standard Terms of Use, and while they support the general approach presented here, nothing in these documents should be interpreted as binding on an innovative organization. . On the contrary, the list of conditions should be considered a reasonable generalization for most situations.

Over the next few months, the developers plan to release a full license agreement template based on this specification. If you have any questions, comments or concerns or would like your institution to be included in the list of sponsors below, please email [email protected].

The list of contributors is as follows (individual contacts are indicated in parentheses):

Institutions: Columbia (Orrin Herskovitz, Ofra Weinberger, Melissa Cohen), Duke (Robin Rasor), Harvard (Isaac Kohlberg), Johns Hopkins (Steve Kouzouris), MIT (Lauren Foster), Stanford (Karin Emergluk), Indiana University (Terry Wiley ) ), University of Michigan (Rick Brandon), University of Kentucky (Ian McClure), University of Pennsylvania (John Swartley), and Yale University (John Soderstrom).

Venture capitalists : 5AM Ventures (Galia Blachman, Jessica Alfano and Deb Palestrant), Atlas (Kevin Bitterman), Omega Fund (Daider Kanein), OUP (Kirsten Lute and Bill Harrington), Polaris (Amy Shulman and Alexandra Cantley), RA Capital (Sarah Reed, Nadeem Shohdi and Josh Resnick) and Wenrock (Kami Samuels).

Law firms: Cooley (Jeff Spolar), Goodwin (Sarah Solomon) and Wilson Sonsini (Katie Ku)

Terms have been reviewed and approved by the Technology Licensing Divisions of California Institute of Technology (Caltech), Columbia University, Cornell University, Duke University, Harvard, Indiana University, Johns Hopkins University, Massachusetts Institute of Technology, New York University, Stanford . University of Michigan, University of Kentucky, University of Pennsylvania, and Yale University, and venture capital firms 5AM Ventures, A16z, Atlas, F-Prime, Omega Funds, OUP, Polaris, RA Capital, Sofinnova Investments, and Third Rock Ventures.

View the first edition on businesswire.com: https://www.businesswire.com/news/home/20221128005167/en/

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The Lack Of Homes Could Strangle Our Life Sciences Industry

The Lack Of Homes Could Strangle Our Life Sciences Industry
stay

With the life sciences industry in the Boston metro area, it’s not about “if you build it, they’ll come” but “if you build it, where will they live?”

The region is home to the world’s largest cluster of such businesses, and has been for several years, according to an annual analysis by real estate agent JLL.

According to the Massachusetts Board of Biotechnology (MassBio), the first six months of the year represent the fourth-largest venture capital investment of any year for a Massachusetts-based biopharmaceutical company. This region is already known for its space limitations when it comes to life science development, which is why you see so many office projects turned into laboratories.

There are good reasons to build more houses if you want this business to thrive and survive.

“Housing and infrastructure remain crucial to establishing the company. That’s really the deciding factor,” said Kendalle Burlin O’Connell, president and chief operating officer of MassBio. “To support the incredible growth we’re seeing and to continue making Massachusetts the best place in the world for life sciences, we need to make sure affordable housing is available.”

Many state-owned life sciences companies require Federal Drug Administration approval for various pharmaceutical developments. After the permits were issued, space and staffing requirements increased rapidly. Just look at Moderna, which is doubling its workforce and planning a similar expansion trajectory for its Massachusetts headquarters and manufacturing plant after developing its COVID-19 vaccine. In 2021, biopharmaceutical jobs in Massachusetts will increase by 13.2%.

“Massachusetts has really been at the forefront of the development of this area and the investments that have been made over the years, and it’s been a truly collaborative effort,” said Catherine Rollins, director of the Boston Urban Land Institute/New England. “I wouldn’t want to see us lose ground in terms of market leadership because we don’t work together and don’t think about the big picture in terms of commercial and real estate competitiveness.”

The Commonwealth is home to many corporations that could become the next Modern. MassBio’s 2022 industry brief projects that, by the end of 2025, 26 million to 59 million square feet of laboratory and manufacturing space will be added to the state’s life sciences inventory. However, Catherine Carlock of The Globe reports that 80% of current lab projects in the region may be “limited” in the face of rising interest rates and a declining economy, but that “as demand increases , the developments of the laboratory will become an established life”. . the sciences “districts, or groups, could be consolidated, with Cambridge leading as usual”.

Despite the potential for cooler demand, the Boston Planning and Development Board approved three new life sciences developments this month: 125 Lincoln St., 310 Northern Ave. and 51 Melcher St.

Housing availability and affordability are critical to maintaining economic competitiveness, so this consolidation will pose significant challenges.

“There are a number of reasons the industry is regionalizing,” O’Connell says of the recent trend of life sciences companies expanding into areas like Worcester, the Merrimack Valley and the North Coast. “There may be more affordable housing available, and we can step into these other communities and take advantage of a new and diverse workforce. Unless we have a strong and diverse workforce to support this evolution, these companies won’t be there.

Concentration of life scientists will drive up housing costs, but industry is better equipped to support them than the general public: The median annual salary of nearly 107,000 life scientists in the state is $201,549, well above the income median household in the state of $84,385, according to census data.

According to MassBio, diversifying the workforce would theoretically ease pressure on housing costs in several cities and free up supplies for people who don’t earn much.

MassBio is not the only one who thinks so.

“It’s consistent with the hub-and-spoke models we’re looking at where the focus will be, whether it’s Kendall Square or the harbor or a suburban alternative like Quincy,” said John Boyd Jr., the company’s director of consulting The Boyd. Co. “New Hampshire is also getting a lot of attention from life science companies, especially after the new tax increase.”

Expansion north and west will not be enough. The Boston area may have long been a leader in the life sciences, but the crown may be found on a new head. JLL’s Top 10 ranking includes more affordable housing markets such as Philadelphia (#5); Raleigh-Durham, NC (No. 6); and Salt Lake City (#10).

“As these companies grow their workforce, the talent often comes in from outside the market, whether it’s overseas or elsewhere in the United States. The idea is like building more homes where people want to live.” said Mark Bruso , principal investigator of JLL. administrator. “Honestly, Boston doesn’t know it yet, and it’s not going to get better anytime soon.”

Nearly every conversation about the need for more housing in the greater Boston area is heating up again. Simply put, there weren’t enough homes being built and densification was the solution. A nonprofit Rise for Growth study released earlier this year ranked Massachusetts the 11th worst housing shortage in the nation, with 108,000 more homes needed each year to meet demand.

“I think for this community, if they’re really going to take this opportunity to build these really vibrant and diverse mixed-use places, that’s where the zoning should start, even if it’s not the most attractive to begin with,” says Kristen O.” Gorman, deputy general manager of the architectural firm SCB.

The Boston area needs more housing to maintain its crown in the life sciences, but it still has one trick up its sleeve: talent from top universities like Harvard and MIT.”Apartments are definitely something businesses are looking for,” says Jeffrey Myers, head of research at real estate agency Colliers, “but it goes in the bucket with a lot of other things where I think Boston has a huge lead.”

A large concentration of colleges and universities, as well as access to funding, clinical research laboratories and manufacturing space are factors that could offset the high cost of living and doing business in Massachusetts, respondents told the story.

“In Boston, there are a lot of utility costs that have nothing to do with housing costs,” Bruso says.

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Sciences

‘The Dark Matter Is Just Sitting There: Whats Standing In The Way Of AI For Life Sciences

‘The Dark Matter Is Just Sitting There: Whats Standing In The Way Of AI For Life Sciences

Life Sciences Speaker at Madrona Venture Group's Smart Applications Summit. From left: Lucas Nivon, CEO of Cyrus Biotechnology, Jonathan Carlson, a researcher at Microsoft, Madison Masaelli, CEO of DipCell, and moderator Chris Picardo, Madrona's business partner. (Photo by GeekWire/Charlotte Schubert) © Madrona Venture Group’s Smart Apps Summit powered by GeekWire Life Science Speakers . From left: Lucas Nivon, CEO of Cyrus Biotechnology, Jonathan Carlson, a researcher at Microsoft, Madison Masaelli, CEO of DipCell, and moderator Chris Picardo, Madrona’s business partner. (Photo by GeekWire/Charlotte Schubert)

Life scientists have a data problem: data is fragmented, ambiguous, and incomplete. And that makes it difficult to take full advantage of AI technology.

At the Smart Applications Summit hosted by Madrona Venture Group in Seattle last week, a group of researchers discussed the challenges of implementing artificial intelligence tools in the life sciences.

Artificial intelligence technology is changing the way companies do everything from selling products to routing packages. New AI “basic” models such as GPT-3 and DALL-E, which can generate new expressions or images, have been developed using excellent training tools from the web.

But in the life sciences, “data standardization is very difficult,” said speaker Madison Masaelli, CEO of DeepCell, a startup that visually analyzes and classifies individual cells.

Cell biology data is compromised by differences in sample collection, storage and processing, Massali said, making comparisons between data sets difficult. “From sampling to imaging, there are dozens of steps that lead to variability in the data,” he said.

Not all life science data is messy. Protein structures, for example, are represented in a standardized way in standard databases. This enabled artificial intelligence tools from DeepMind’s AlphaFold and University of Washington’s RosettaFold, which recently solved the long-standing problem of predicting protein folding. UW recently launched ProteinMPPN, an AI-powered protein design tool.

But even for proteins, there’s a lot of information behind the walls. Lucas Nivon, CEO of Seattle-based protein design startup Cyrus Biotechnology, said Cyrus has reached out to major pharmaceutical companies to share databases of antibody structures underlying many therapies. Hundreds of thousands of such structures are silent in various companies.

Nivon said all companies are interested in gathering information and discussing the process of sharing property objects. “Also, nobody wants to be the first big investor,” Nivon said.

Cyrus joined Amazon Web Services and other partners this summer to form OpenFold, an open-source protein design nonprofit, and is now talking to potential partners about sharing information about the structure of these antibodies.

“It has dark matter on its side. It really does,” Nivon said. And everyone admits it.

The protein ring was smoothed using artificial intelligence-based software from the UW Institute for Protein Design. (IPD photo) © Powered by Geekwire Protein rings are smoothed by artificial intelligence-based software from the University of Washington Institute for Protein Design. (IPD photo)

The reliability and bias issues that affect AI modeling in technical applications also affect the life sciences, but in different ways, the speakers said.

When the AI ​​produces a paragraph that makes no sense, users can see it right away. Jonathan Carlson, who leads life science research and incubation at Microsoft Health Futures, part of the tech giant’s research arm, said it’s difficult to judge whether this indicates a misdiagnosis or an incorrect protein structure.

“Many of the problems we see in the life sciences are not unique, but very acute,” Carlson added.

Testing an AI product and then feeding the data back into the model sounds like it at first, but in the life sciences this process can be time-consuming. Cyrus is testing several proteins developed by his collaborators to create new transgenic mice, a process that could take more than a year. But Nivon’s team used high-throughput in vitro and cell filtration systems.

Nivon says efforts to optimize the filtering system will allow for faster improvements in artificial intelligence models. Capsida Biotherapeutics, which repeatedly designs and tests gene therapy designs using animal models, takes tissue to assess which actually reaches the right place in the body, he said.

Researchers want to better link biological data to clinical outcomes, but many obstacles remain, including privacy requirements, Massali said. “There is no single Google proxy that covers all the biological or health information in the world,” he said.

Carlson envisions a future in which more life science data is anonymized and moved into standard, interoperable formats. Finally, data from clinical trials and animal experiments can be effectively networked to develop new hypotheses and refine key research questions.

Carlson says there’s a big question: “How do we enable collaboration while respecting not only intellectual property, but also privacy? What’s the point of being able to build huge base models when we can’t even open the data?

$UICIDEBOY$ – Matt Black (Video Lyrics)