Eli Lilly’s $2 Billion Deal to Acquire Versanis Bolsters Weight-Loss Drug Arsenal

Partnership
UVA Health, Riverside Health System Form Strategic Alliance
The strategic alliance aims to enhance patient access to advanced care, clinical trials, and transplants in Eastern Virginia. UVA Health gains 5% ownership in Riverside. Read More>>

Centre Setup and Expansion
Astera Health and CentraCare partner to build $23 million cancer center in Wadena
The center will be 20,000 square feet and include infusion, radiation oncology, and supportive care. The project will be completed by spring 2025. Read More>>

Merger and Acquisition
Benefis Health System acquires Missouri River Medical Center in Fort Benton
Benefis acquires MRMC, including the critical access hospital, rural health clinic, and nursing home. The deal aims to strengthen MRMC and provide a tax cut for the community. Read More>>

Executive Movement
ChenMed Appoints Steve Nelson as President
Nelson’s previous experience includes leadership roles at Duly Health and Care and UnitedHealthcare, driving growth and improving healthcare outcomes. Read More>>

Layoff
Allina Health to eliminate around 350 jobs
Allina Health System is cutting these jobs due to unprecedented financial pressures. Affected employees will receive severance pay, health benefits, and outplacement resources. Read More>>

Partnership
Glaukos Corporation Enters Into a Marketing Agreement with Radius XR, Inc.
Glaukos will promote the Radius XR™ wearable patient engagement and diagnostic system in the US. The system aims to enhance eye disease detection and patient management. Read More>>

Centre Setup and Expansion
Siemens Healthineers’ innovation center to open in Erlangen, Germany
This R&D center will focus on new technologies and value-added processes to enhance patient benefits. The center facilitates regional exchanges with China and India centers. Read More>>

Merger and Acquisition
ResMed Acquires Somnoware
The acquisition aims to streamline physicians’ processes and improve patient care by integrating diagnostics, treatment, and record management within the Somnoware platform. Read More>>

Executive Movement
Biocartis appoints George Cardoza as new CFO and Head of Service Delivery
George brings extensive experience in financial management, strategic planning, and collaboration, including overseeing strategic partnerships with companies. Read More>>

Layoff
Boston Scientific to lay off 52 employees due to the closure of California facility
The work from the Fremont facility is being transferred to a facility in Minnesota. Employees affected by the layoffs will be given 60 days’ notice and transition assistance. Read More>>

Product Launch
Lonza launches TheraPRO® CHO Media System
Lonza’s TheraPRO® CHO Media System is a cell culture platform designed to optimize therapeutic monoclonal antibody production using GS-CHO cell lines. Read More>>

Partnership
Raya Therapeutic announces early-stage R&D collaboration with Argenx
The companies collaborate to test combinations of Raya’s targeted small molecules with Argenx’s product for neurodegenerative diseases. Read More>>

Centre Setup and Expansion
Recipharm Opens Analytical Lab in India
Recipharm opens a 5,000-square-feet analytical testing lab in Bengaluru, India, focusing on nitrosamines, extractables and leachables, and elemental impurity testing. Read More>>

Merger and Acquisition
Eli Lilly agrees to buy weight-loss drugmaker Versanis for nearly $2 billion
The acquisition aims to leverage Versanis’ lead drug, bimagrumab, in combination with Lilly’s semaglutide for potential weight-loss therapies targeting cardiometabolic diseases. Read More>>

Executive Movement
Ultragenyx Pharmaceutical hires new CFO and Executive VP for Corporate Strategy
Howard Horn brings strategic finance and business planning expertise, having previously served as finance chief at Vir Biotech and held roles at Biogen and McKinsey & Company. Read More>>

Product Launch
Cosmax Introduces Emulsifier-Free Sunscreen
The “Capsule Sun” utilizes visible capsules containing sunscreen ingredients for transparency and ease of application, catering to the increasing demand for transparent sunscreens. Read More>>

AI and ML Drug Discovery

1. Pharmaceutical companies in Europe are leveraging AI and ML to expedite drug discovery, optimize the development process, and embrace personalized medicine, positioning themselves at the forefront of innovation and benefiting patients while advancing the field of medicine.

Blockchain Security

1. Pharmaceutical companies are focused on leveraging blockchain technology to enhance supply chain security, combat counterfeit drugs, and ensure regulatory compliance for a future of safe and trusted medications.

Cloud Computing Efficiency

1. Leveraging data analytics and cloud computing for operational efficiency, inventory optimization, streamlined manufacturing, and informed decision-making is the key strategic priority for companies.

IoT Connected Devices

1. The integration of IoMT devices drives continuous data collection, remote patient monitoring, and real-time health tracking for proactive healthcare interventions and personalized patient management.

Key Funding Alert

Unicorn K Health raises $59 million in a new funding round
The company also made two announcements. Firstly, they partnered with Cedars Sinai to provide K’s AI and primary care services to customers in California. Secondly, K underwent a scientific review by Dr. John Ebbert from Mayo Clinic and Dr. Dan Zelter, an economist. Read More>>

Startup Spotlight

Company – Ariceum Therapeutics
Total Funding – USD 51.84 Mn
About: Ariceum Therapeutics is a privately held radiopharmaceutical firm in the clinical stage that specializes in the detection and targeted treatment of aggressive malignancies, such as neuroendocrine and other hard-to-treat cancers. Read More>>

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