Despite a newly signed $645 million commercialization deal with Neuraxpharm Group for multiple sclerosis drug Briumvi (ublituximab) in Europe, shares of TG Therapeutics Inc. (NASDAQ:TGTX) tanked by 49.3% on Aug. 1 due to a perceived miss in U.S. net sales for the anti-CD20 monoclonal antibody during its first full quarter on the U.S. market.

A new bacteriophage-based rapid test has the potential to identify the specific pathogen causing a urinary tract infection (UTI) at the point of care, enabling targeted use of antibiotics.

The test uses naturally occurring phages identified as predators of Escherichia coli, Klebsiella and Enterococci that are genetically modified to make any bacterium they invade bioluminescent.

In a proof-of-concept study, researchers at ETH Zurich, Switzerland, were able to reliably detect the pathogenic bacteria in a urine sample in less than four hours. That compares to the 18 – 30 hours it takes to culture samples in a central lab and to identify a specific microbe using conventional diagnostics.

The U.K. government and the health care industry should focus more on behavioral-based approaches and preventative care in a bid to tackle health inequality, rising costs and an ageing population, Anton Derlyatka, CEO and co-founder of Sweatcoin Ltd., told BioWorld. Sweatcoin is a step-counting app that rewards users for their daily steps. The company has worked with the NHS for the last three years and is currently working on pilot programs to help tackle type 2 diabetes and cardiovascular diseases by incentivizing people to move.

Avencell Therapeutics Inc. has received approval from the EMA for its clinical trial application (CTA) for AVC-201 for the treatment of relapsed/refractory acute myeloid leukemia (AML) and other selected hematologic malignancies positive for CD123. A phase I study will be conducted in Germany.

Investment in life sciences in the U.K. in 2022 was 47% lower than in 2021, new figures from the government show, a decline the British pharma industry believes is down to the high clawback rates imposed on drug manufacturers deterring global investors.

Neko Health AB reported it has secured $67 million in investment capital to develop its artificial intelligence (AI)-driven full body scanner beyond its home country, Sweden. This series A round was led by Berlin-based Lakestar Advisors GmbH, with participation from Atomico (UK) Partners LLP from London and General Catalyst Group Management LLC from Cambridge, Mass. “Our new concept in body digitization technology, capable of rapidly collecting large amounts of health data, will enable us to identify illness at an early stage and take preventive action,” Hjalmar Nilsonne, CEO and co-founder of Neko Health told BioWorld.

Organox Ltd. raised £25 million (US$33 million) in a funding round that will allow the company to expand its operations in the U.S. on the back of significantly increasing demand from transplant centers, Oern Stuge, executive chairman, at Organox told BioWorld. The Oxford, U.K.-based company which makes systems to preserve and transport livers for transplant is also preparing for its eventual listing on Nasdaq, he added.

Caristo Diagnostics Ltd. is deploying its medical imaging technology, Cari-Heart, at several NHS hospitals in a pilot project that will help identify patients at risk of heart attack years before it occurs. Cari-Heart detects signs of inflammation around coronary arteries. “No other company is doing this,” Frank Cheng, CEO of Caristo told BioWorld. “No one is using CT to quantify and visualize coronary inflammation” to predict the risk of a heart attack years in advance.

Ilasis Laser SAS said it raised $4.8 million to finance commercial development in Europe of its femtolaser surgical instrument, Rx. A group made up of French business angels, Irdi Capital investment SAS, and Nouvelle Aquitaine Coinvestiment SAS (NACO) were involved in this funding round.