The circuit breakers activated almost immediately when the markets opened this morning as the Dow plummeted, with investors moving into cash and away from equities. Clearly, they were not impressed with the Federal Reserve’s decision to slash its benchmark interest rate to nearly 0% to help combat the economic fallout from the coronavirus outbreak.
Mainz, Germany-based Biontech SE has struck two deals in its Project Lightspeed, one for inside China and one for outside China, to develop and commercialize a COVID-19 messenger RNA (mRNA) prevention vaccine. The agreements caused the stock (NASDAQ:BNTX) to soar 29.3%, or $9.07, to close at $40 on Monday in the midst of a bear market.
Med-tech happenings, including deals and partnerships, grants, preclinical data and other news in brief: Adventhealth, Asuragen, Axonics, Ben-Gurion University, BGI, Closedloop.ai, Co-Diagnostics, Curetis, Earlysense, Health Tech Innovation Systems, Medtronic, Nuprobe, Paragonix, Precheck Health Services, Premier Global, Qiagen, Sotera Wireless.
LONDON – The European Commission offered up to €80 million (US$89.4 million) of funding to Curevac AG, to scale up development and production of a vaccine against the coronavirus in Europe, following reports that the U.S. administration had made an offer for the German biotech, in order to get exclusive control of its COVID-19 vaccine candidate.
Undetected cases were a major driver of the early spread of SARS-CoV-2 in Wuhan, China, despite being less infectious on a case-by-case basis, according to a modeling study published in the March 16, 2020, online issue of Science.
Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Acelrx, Advanz, Akebia, Amarin, Armas, Brainstorm, Correvio, Homology, Kirin, Medivir, Nanoviricides, Pharmamar, Protalix, Spherix, Tango, Tetraphase, Therapeuticsmd, Twist, Xortx.
Clinical updates, including trial initiations, enrollment status and data readouts and publications: AGTC, Aimmune, Aptevo, Arcutis, Biocryst, Can-Fite, Genetx, Moderna, Novo Nordisk, Regeneron, Sanofi.