The Society for Immunotherapy of Cancer meeting, which concludes on Nov. 14, features a wide range of sessions that delve into the most recent advances in tumor immunology and cancer immunotherapy, providing an excellent opportunity for investors and analysts alike to stay up to date on new therapeutics to improve cancer treatments. Overall, data presented at the meeting appears to have been well received, a factor that has helped push up the value of the price weighted BioWorld Cancer index this month.
According to an analysis conducted by BioWorld of the third-quarter 2020 financial reports filed by public biopharmaceutical companies with market caps greater than $1 billion, and excluding big pharma companies, the amount that was invested in research and development (R&D) during the nine-month period increased by almost 21% compared to the same period last year. The spending was bolstered by companies turning their attention to focus their research on therapies and vaccines to tackle COVID-19.
After a large jump of clinical news was reported in September, the momentum has continued throughout October, with an 8% increase over the prior month.
Wellcome Leap has launched its first program, dedicating $50 million to help develop human tissues, organoids and full organs. The Human Organs, Physiology and Engineering (HOPE) program is looking to bring biologists and engineers together to develop both therapeutic organs as well as organs that can be used in vitro to help discover and develop new medications.
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