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Our weekly recap and preview for next week features AMC Entertainment Holdings, Endo International, Reverse Mortgage Funding and the Zantac multidistrict litigation. This week, with borrowing rates hovering around 30-year highs, we feature a replay from The Reorg Primary View series, where Christopher Maloney, mortgage strategist at Bank of Oklahoma Financial, and Reorg's James Holloway discuss stresses in the housing market, mortgage lenders and Fed policy. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial We're looking for feedback to improve the podcast experience! Please share your thoughts here: www.research.net/r/Reorg_podcast_survey
“End of the day, there was a 45-cent recovery to unsecured creditors of Lehman. Do you think that's going to happen here [with FTX]?...It's apples and oranges. Because Lehman had a real asset base,” Mark J. Shapiro, Shearman & Sterling Partner and Chairman of the Financial Restructuring & Insolvency group, says on this episode of Bloomberg Intelligence's FICC Focus Podcast. FICC Focus offers the latest market views on interest rates, corporate bonds, emerging-market debt, commodities and currencies by Bloomberg Intelligence analysts. In this State of Distressed Debt edition, Global Credit Strategy head Noel Hebert and BI distressed credit analyst Philip Brendel discuss distressed debt's poor performance year-to-date. BI bankruptcy litigation analyst Negisa Balluku has an in-depth feature interview with Shapiro on FTX's sharp fall, having witnessed Lehman's collapse as its Head of Restructuring in 2008 (8:18). Hebert, Brendel and Balluku review their latest observations of crypto, Endo International, 3M, Diamond Sports Group, Talen Energy and Cineworld (27:49). Bloomberg Intelligence will host a webinar on Cineworld's Bankruptcy & Wider Industry Implications on Dec. 16 at 10:30 am ET. Click here to register: https://bloomberg.zoom.us/webinar/register/WN_1pvGba9SRRqKQewVpB0v1w
The global pain management therapeutics market is estimated to attain a valuation of US$ 98.0 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 2.9% during the forecast period, 2022 to 2031.The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the pain management therapeutics industry. The current and historical status of the market together with forecasted market size and trends are demonstrated in the assessment in simple manner. In addition, the report delivers data on the volume, share, revenue, production, and sales in the market.The report by TMR is the end-product of a study performed using different methodologies including the PESTEL, PORTER, and SWOT analysis. The study with the help of these models shed light on the key financial considerations that players in the pain management therapeutics market need to focus on identifying competition and formulate their marketing strategies for both consumer and industrial markets. The report leverages a wide spectrum of research methods including surveys, interviews, and social media listening to analyze consumer behaviours in its entirety.Get Sample Copy of the Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1059Pain Management Therapeutics Market: Industry Trends and Value ChainThe study on the pain management therapeutics market presents a granular assessment of the macroeconomic and microeconomic factors that have shaped the industry dynamics. An in-depth focus on industry value chain help companies find out effective and pertinent trends that define customer value creation in the market. The analysis presents a data-driven and industry-validated frameworks for understanding the role of government regulations and financial and monetary policies. The analysts offer a deep-dive into the how these factors will shape the value delivery network for companies and firms operating in the market.Pain Management Therapeutics Market: Branding Strategies and Competitive StrategiesSome of the key questions scrutinized in the study are:What are some of the recent brand building activities of key players undertaken to create customer value in the pain management therapeutics market?Which companies are expanding litany of products with the aim to diversify product portfolio?Which companies have drifted away from their core competencies and how have those impacted the strategic landscape of the pain management therapeutics market?Which companies have expanded their horizons by engaging in long-term societal considerations?Which firms have bucked the pandemic trend and what frameworks they adopted to stay resilient?What are the marketing programs for some of the recent product launches?Make Inquiry before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1059The list of key players operating in the pain management therapeutics market includes following names:AbbottAstraZeneca plcPfizer, Inc.Depomed, Inc.Endo International plc
About Ron Lasorsa and Victory Litigation Fund: As the CEO of the General Partner, Ron is responsible for creating the Company's growth strategy, executing its business model, and directing operations. Ron brings an experienced yet non-traditional view on the market demands currently reshaping the 21st century delivery of legal services. Ron's more than 25 years of managerial and financial experience spans the legal, financial, and direct response advertising industries. Ron brings an experienced yet non-traditional view on the market demands currently reshaping the 21st Century delivery of Legal Services. Ron's almost 40 years of managerial and financial experience spans the military, legal, financial and direct response advertising industries. From 1994 to 2001, Ron was responsible for corporate stock buybacks and equity derivative sales at JPMorgan, managing over $50MM in trading commissions per year. In 2001, he left JP Morgan and went to ABN Amaro Bank to run equity prime brokerage trading. He managed over 400 prime brokerage trading accounts and was responsible for 30 traders generating over $100MM in trading commissions per year. Ron left Wall Street in 2006 to pursue new ventures in the legal services industry, focusing on online lead generation. In 2014, American Medical Systems and Endo International made headlines when they paid out a staggering $830 million to settle more than 20,000 claims that their transvaginal mesh caused severe harm to patients. In 2015, Ron founded and sold a law firm (Alpha Law) for $40.5 million in a single transaction as the minority non-attorney equity owner who had originated over 15,000 transvaginal mesh cases. Lasorsa and his partners deployed $7.3 million and $8.9 million in collateralized third-party debt from a hedge fund to acquire the cases. The final docket of cases included 6,343 women injured by TVM and retained by law firms from July 2014 through May 2015. Founded in 2022, the Victory Litigation Fund is a blockchain-built tokenized venture fund that raises capital by selling security tokens. We then work with carefully selected law firms to develop veteran-related litigation cases. Victory's mission is to advocate for the veterans and their families harmed during service to our country and win the most financial compensation possible for their injuries. To fulfill this mandate, Victory has developed several proprietary strategies to help veterans seek the justice they deserve, defend taxpayers from waste, fraud, and abuse and maximize economic value for investors.
Global Credit Strategy head Noel Hebert and BI distressed credit analyst Philip Brendel discuss September's rise in distressed supply amid a dearth of risk appetite. Included is an in-depth feature interview with Todd Lemkin, Chief Investment Officer of Canyon Partners (6:15). BI bankruptcy litigation analyst Negisa Balluku and Bloomberg distressed debt reporter Eliza Ronalds-Hannon join the panel to share thoughts on Endo International, Celsius Network, Voyager Digital, Cineworld, Bed, Bath & Beyond, JUUL, and Envision Healthcare (1:07:15).
This week we take a look at Celsius Network, Endo International, Talen Energy and Bed Bath & Beyond. For this week's Deep Dive, we offer a replay of a June webinar where Mark Fischer, director of credit research at Reorg, Peter Washkowitz, head of Reorg Covenants, and Simran Bal, distressed debt analyst, provide an overview of the significant headwinds in front of financial and retail technology company Diebold Nixdorf as it faces a massive maturity wall in the next two to three years and walk through the company's options and capacities under its debt documents.
This week we take a look at GWG Holdings, Endo International, Johnson & Johnson and Serta Simmons. For this week's Deep Dive, we offer a webinar replay from January in which the Reorg team provides an overview of the No Surprises Act's provisions, including the rules shaping implementation of the law's independent dispute resolution features, which are facing litigation challenges from multiple provider-related groups. We also discuss the law's potential impact on multiple healthcare subsectors with profiles of specific companies.
Earlier this week, The State of Florida reached a $878 million opioid settlement with TEVA, Abbvie, Endo International and CVS. Woonsocket based CVS is responsible for paying for $484 million of the $878 million. What does this mean for other Opioid cases around the country? Mark Lanier, with the Lanier Law Firm in Houston, Texas, joins Gene to talk about how this recent settlement will affect cases around the country. See omnystudio.com/listener for privacy information.
Today in FirstWord:
One in four men over the age of 65 has urinary incontinence, according to the Centers for Disease Control and Prevention. In this interview, men's health expert Ronald Morton, MD, FACS, describes how urinary incontinence is diagnosed and treated. He also provides detailed information about the key medical devices that are available to treat this condition. Approximate listening time: 14 minutes About the Interview Although urinary incontinence is not as common in men as it is in women, it is more prevalent than many people think. According to the Centers for Disease Control and Prevention, one in four men over the age of 65 suffers from it. The underlying causes are often similar in both genders: aging and weakening of the pelvic floor muscles. However, pelvic trauma or prostate disease or surgery can also contribute to the problem in men. Urinary incontinence creates significant quality-of-life issues, so finding effective treatments is very important. In this interview with urologist Ronald A. Morton, Jr., MD, FACS, Natural Medicine Journal’s publisher Karolyn A. Gazella discusses the prevailing treatment options for male urinary incontinence. For some men, pelvic floor exercises alone can provide relief. For others, diet and weight modification are necessary. Others may opt for more advanced interventions, including surgery. Surgical options range minimally invasive to extensive. On the simpler end of the spectrum is the basic urinary sling. In this quick procedure, a sling is inserted to replicate the support lost in previous interventions or trauma. On the other end of the spectrum is an artificial urinary sphincter, which regulates urine flow through a pump. Of course, surgical interventions are not without risks and side effects. Morton addresses those and discusses how to determine whether a patient is a good candidate for surgery. Listen to this interview to learn more about the current treatment options for male urinary incontinence, as well as Morton’s predictions for the future of incontinence treatment. Scroll down for the full transcript. About the Expert Ronald A. Morton, JR, MD, FACS, is the vice president of clinical sciences for the Urology and Pelvic Health division of Boston Scientific, a position that he has held since August 2015. Before joining Boston Scientific, via acquisition, Morton worked for Endo International plc as chief surgical officer, American Medical Systems. Previously, he worked for GTx, a biotech company in Memphis, TN, as chief medical officer. Prior to joining GTx, Morton was chief of urology at Robert Wood Johnson Medical School and director of urologic oncology for the Cancer Institute of New Jersey. He also held an endowed chair position as director of the General Clinical Research Center. Morton holds a BA in natural sciences from The Johns Hopkins University and received his medical doctorate from The Johns Hopkins University School of Medicine. He has board certification as a diplomat, American Board of Urology. Transcript Karolyn: Hello, I'm Karolyn Gazella, the publisher of the Natural Medicine Journal. Today our topic is male urinary incontinence and my expert guest is Dr. Ronald Morton. Dr. Morton, thank you for joining me. Dr. Morton: Hi, Karolyn, and thank you for having me today. Karolyn: Well great. Well, let's just start with the basics. How is urinary incontinence diagnosed in men? Dr. Morton: Karolyn, urinary incontinence is not as common in men as it is in women, although it does happen more commonly than people think. The main causes are as it is with women, aging and weakening of the pelvic floor muscles. But more importantly, and the reason for many of the interventions that we have for urinary incontinence in men is it can be due to trauma to the male pelvis and/or surgery for diseases of the prostate. When I say disease of the prostate I mean both benign conditions like BPH, which many men suffer from and are aware of, and then also prostate cancer, which is a very common cause for surgery on the male pelvis. Karolyn: And then what's considered the gold standard of treatment for this particular men's health condition? Dr. Morton: There are many ways to treat male incontinence, as there are many ways to treat female incontinence. The usual approach that will be taken by a urologist is to go from the least invasive to more invasive solutions until the patient is happy. I think that one thing that always has to be kept in mind is that this is really a quality of life issue for most men, especially since urinary incontinence in males is generally a disease of men who are older. The median age of diagnosis of prostate cancer is about 63 years of age or so. Since operations on the prostate are the common cause for this, they're generally older men and it's a quality of life issue. What one male will find satisfactory control of the urinary incontinence might be totally unsatisfactory to another. So the general approach would be to start with exercises, commonly called Kegel exercises. The same exercises that we suggest that women do who have a mild degree of urinary incontinence and see if that won't help. If Kegel exercises won't help and it's not something that can be helped with diet and weight modification, then we go into more invasive treatments for male urinary incontinence. The first level of invasion is a procedure that only takes a few minutes, really, less than a half an hour called a male urinary sling. It's much like the slings that are used in women. It supports the male urethra and holds it up, providing support that has been lost due to the previous surgical intervention or pelvic trauma in hopes that that will correct the incontinence. Fore more severe degrees of incontinence we often times need to move towards what is really considered, as you say in your question, the gold standard for severe incontinence, which is the artificial urinary sphincter [AUS]. In that procedure, a cuff is placed around the urethra and this cuff is connected to a pressure-regulating balloon, which controls pressure in the cuff, keeping the urethra closed and preventing leakage of urine and also a pump, which is placed in the scrotum. When it's time to urinate, the male can just activate the device. The fluid leaves the cuff and goes into the pressure-regulating balloon, opening the urethra. The male can then urinate and then after a period of lock-out time, the cuff will refill, returning him to a state of continence. Karolyn: So let's talk about these two, the sling and the sphincter. What determines whether or not a patient is severe enough for the sphincter versus the sling? What's the difference between those two patients, the one that gets the sling and the one that gets the sphincter? Dr. Morton: Good question because again, it has a lot to do with personal preference. But there are some general guidelines that one can go by. When we measure incontinence and it can be a difficult thing to put a number on, but most men who have incontinence will use urinary pads in their shorts in order to trap urine leaking. A good gauge of to what degree a male leaks is how many times they have to change that pad. Now, some men will as soon as there's a small amount of urine because of the discomfort it will cause will change that pad right away. Some men tend to allow the pad to get very, very soaked before they'll change it. Everyone behaves a little bit differently. A way to get a handle on exactly how much leakage a man has it to do what we call the pad weight test. So we'll give them all the pads that they might need for a day and a bag that can prevent evaporation and they just collect the pads that they use for the day, put it in this bag, and everything is pre weighed, and then we weigh it to see what the volume of urine leakage is. A rule of thumb, if they're leaking around five pads or 300cc of urine a day, that's severe and is more likely to be treated with the artificial urinary sphincter. Degrees of urinary leakage that are less than that can be and generally might be recommended that they be treated with the sling procedure. Karolyn: Now are there are any contraindications associated with each of these options, the sling or the sphincter? So in other words, are there men who would not be a good candidate for either of these options? Dr. Morton: Well, they have to be able to undergo a surgical procedure, and while the sling procedure is relatively short, it does require at least a regional anesthetic. The artificial urinary sphincter procedure is a little bit longer and requires a general anesthetic so they have to be fit for the surgery. The sling is generally not recommended for men if they have been treated for prostate cancer with radiation. The outcomes there haven't been as good as they have been with the artificial urinary sphincter so in that setting we generally would recommend a sphincter as opposed to a sling, even if they were otherwise a good candidate for a sling. Karolyn: What about side effects? Are there any side effects associated with either of these devices? Dr. Morton: I'll take that question separately for each of the two devices. The side effects associated with the sling are that if you don't choose the patient in the best way, two things can happen. One, the patient can not have their incontinence adequately treated. A second issue is if you put a sling in a patient whose major problem is not one of the urethra but is a bladder issue, and that can be sorted out ahead of time with uro dynamics, but if you did you may render that patient obstructed or in urinary retention. The problem doesn't have to do with external sphincter deficiency for that patient. For the artificial urinary sphincter what we're doing is we're placing this cuff around the urethra. It does over time potentially compromise some of the blood supply to the urethra in that area and you can get what's known as atrophy of the urethra in the area of the cuff. When you get atrophy in the area of the cuff there can be a return to urinary incontinence. Of course for both of these procedures, since you're putting a foreign body in, there's a risk of infection, although infectious problems with these devices have been relatively low. Karolyn: Okay, that makes a lot of sense. Now, I'm just curious because you have a certain expertise in this area as chief surgical officer of American Medical Systems. What general advice do you give to physicians who are treating men with urinary incontinence? Dr. Morton: One, most of the advice that I have is for physicians who have men with incontinence but aren't necessarily the experts in treating them. There's a couple of things. One of the things that our research has shown us is that many men who are subjected to surgery for prostate cancer, for example, and who then suffer from incontinence don't recognize, or aren't made aware that there are treatments for it and they suffer in silence we like to say. So, if we can get anything out to the many physicians listening to this podcast it would be don't let this happen to any of your patients. Make sure they understand that if they do get incontinence after, for example, radical prostatectomy, there are options and there are potential solutions for this. The second message is I spend a lot of time working with the engineers and we're constantly looking at ways to come up with a better mouse trap if you will. What can we do to avoid the complications we spoke of earlier? What can we do to help physicians identify the proper patients so we don't use a sling in a patient who should've had an AUS, or an AUS in a patient who should've had a sling? And what can we do to make the functioning of the AUS a little bit easier so that in this elderly population of men they are always candidates for the device? Karolyn: Yeah, that makes a lot of sense and I'm glad that you brought that up about suffering in silence and information. Obviously, a well-informed patient is the best patient to have. So letting that patient know his options is absolutely critical. So one final question for you Dr. Morton. What is on the horizon when it comes to devices for this particular issue with men? Do you see existing devices just being improved? Do you see new devices? Are we kind of where we should be? Look into your crystal ball and tell me what the future holds for this. Dr. Morton: I don't know if I'm the best person to predict the future, but I think that our efforts are to make sure that A, these are the right solutions. We are constantly looking at, are there other options? Are there other ways to manage urinary incontinence? Could we come up with a less invasive way to place the sling or a less invasive device would replicate the great performance of a sling? On the urinary sphincter side of things it's a mechanical device, so can we simplify that mechanism so that it's easier for the patient to implement? Remember there's a patient interface with the AUS. Most devices that we implant, like when a cardiologist implants a pacemaker, there's no patient interface. The patient doesn't have to decide whether or not their pacemakers work. It's in and it just works. For our device, at least for the artificial urinary sphincter, there's that patient interface. So if we can improve that patient interface with the device and make it as reliable as possible, that's what we're looking to do in order to improve the overall performance of the device and have men have a greater satisfaction with their quality of life. Karolyn: Yeah, that makes a lot of sense. Well, this has been very informative. Once again, thank you, Dr. Morton, for joining me today. Dr. Morton: Karolyn, thank you for having me. Karolyn: Have a great day.
S&P Global Ratings analyst Arthur Wong discusses the recent downgrade of Endo International, which took another significant charge for its mesh litigation settlement, while dealing with ongoing pressures in the generic and opioid markets.
PharmaPills - Pillole dal farmaceutico: Novità, Curiosità e Lavoro dal mondo del farmaceutico. A cura di Stefano LagravineseIn questa puntata parliamo di:Aziende: QuintilesIMS, Teva Pharmaceutical Industries, Mylan, Novartis, Sandoz, Pfizer, Allergan, Sun Laboratories, Fresenius, Endo International, Lupin, Sanofi, Aspen Pharmacare, Aurobindo, Cipla, Apotex, Dr. Reddy's, Ypsomed.Persone: Alessandro Mostaccio (Movimento dei consumatori), Federico Spandonaro (Università Tor Vergata di Roma), Andrea Giustina (Università Vita e Salute San Raffaele), Annamaria Vezzani (Istituto Mario Negri di Milano), Pier Paolo di Fiore (IFOM), Sara Sigismund (Università Statale di Milano), Carlo Tacchetti (Ospedale San Raffaele di Milano), Giancarlo Agnelli (Università di Perugia), Andrea Fontanella (FADOI), Massimo Galli (Università degli Studi di Milano), François Houÿez (EURORDIS), Marco Romano (Chiltern International). Nuove terapie: elbasvir/grazoprevir.Patologie: allergie, diabete, epilessia, cancro, tromboembolismo, epatite C.Ogni mercoledì alle h 12.00 su Spreaker.com e iTunes.Seguici su: www.telegram.me/pharmapillswww.facebook.com/pharmapills/Hai un dispositivo Apple? Seguici e abbonati al podcast tramite la app iPod http://nelfarmaceutico.link/pharma-apple
PharmaPills - Pillole dal farmaceutico: Novità, Curiosità e Lavoro dal mondo del farmaceutico. A cura di Stefano LagravineseIn questa puntata parliamo di:Aziende: QuintilesIMS, Teva Pharmaceutical Industries, Mylan, Novartis, Sandoz, Pfizer, Allergan, Sun Laboratories, Fresenius, Endo International, Lupin, Sanofi, Aspen Pharmacare, Aurobindo, Cipla, Apotex, Dr. Reddy's, Ypsomed.Persone: Alessandro Mostaccio (Movimento dei consumatori), Federico Spandonaro (Università Tor Vergata di Roma), Andrea Giustina (Università Vita e Salute San Raffaele), Annamaria Vezzani (Istituto Mario Negri di Milano), Pier Paolo di Fiore (IFOM), Sara Sigismund (Università Statale di Milano), Carlo Tacchetti (Ospedale San Raffaele di Milano), Giancarlo Agnelli (Università di Perugia), Andrea Fontanella (FADOI), Massimo Galli (Università degli Studi di Milano), François Houÿez (EURORDIS), Marco Romano (Chiltern International). Nuove terapie: elbasvir/grazoprevir.Patologie: allergie, diabete, epilessia, cancro, tromboembolismo, epatite C.Ogni mercoledì alle h 12.00 su Spreaker.com e iTunes.Seguici su: www.telegram.me/pharmapillswww.facebook.com/pharmapills/Hai un dispositivo Apple? Seguici e abbonati al podcast tramite la app iPod http://nelfarmaceutico.link/pharma-apple
Today in FirstWord:
Today in FirstWord:
Today in FirstWord:
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Bellus Health is left reeling as its lead drug Kiacta fails its Phase 3 clinical study, Vancouver based QLT inks a merger deal with Aegerion Pharmaceuticals and looks to a fresh new start, and Biotechnology Focus relaunches its Hot Button Issue Survey. We have this and more on this weeks show! Show Notes: We kick things off this week with some bad news on both the business and the clinical trial front with BELLUS Health the rare disease drug development firm reporting top line results from its Phase 3 study of KIACTA™ (eprodisate) as a treatment of AA amyloidosis. The disease is characterized by secondary to severe chronic inflammation or infection leading to the formation and deposition of amyloid fibrils in organs, often resulting in end-stage renal disease and death. Currently there are no therapies available that target the disease directly. According to company CEO Roberto Bellini, KIACTA™ failed to meet its primary efficacy endpoint in slowing renal function decline. The news, announced on June 20, was somewhat surprising to both the company and its investors. Shares for the company on the TSE under the trade symbol BLU plummeted, going from $2.42 on June 17, to around $0.39 on the day of the announcement, holding at .40 cents today. Many investors had rallied to the company over the past year due to the drug being in later stages of clinical trial development. Moreover, the science seemed sound as in earlier studies, KIACTA™ was shown to significantly delay the disease. In both earlier studies and even in the failed trial, it was found to be safe and well tolerated over treatment periods of greater than four years. The confirmatory Phase 3 study of KIACTA™ was a global study across more than 70 sites in more than 25 countries that randomized 261 patients to receive either 800mg dose of KIACTA™ twice daily or placebo. The study was an event driven study that lasted five years meeting its completion target of 120 patient events linked to the deterioration of kidney function in January 2016. The company added that further analysis of the data is ongoing, and a more detailed data set of the KIACTA™ Phase 3 study will be presented July 6 at the XV International Symposium . Roberto Bellini, president and CEO of the company adds that while Bellus is disappointed that the Phase 3 study did not meet the primary efficacy endpoint, the full data set will be assessed to determine the best path forward. The company says in the aftermath of the failed trial, it will continue working on a number of other projects in its portfolio, including its study of KIACTA™ as a treatment for sarcoidosis (set to enter Phase 2 trials), clinical development of Shigamab™ as a treatment for STEC-related Hemolytic Uremic Syndrome (sHUS), and the company’s research-stage project for AL amyloidosis. We go from negative news to the more positive, as QLT Inc., once upon a time Canada’s hottest biotech company, and a company long-entrenched as a in the BC- biotech community inking a strategic merger agreement with Cambridge-based Aegerion Pharmaceuticals, Inc. The proposed deal has been approved by the board of directors of both companies, and is expected to close late in the third quarter or during the fourth quarter of 2016. Upon closing, QLT says it plans to change its name to Novelion Therapeutics Inc. adding that its common shares will trade on the NASDAQ Global Select Market and the Toronto Stock Exchange. QLT’s current market cap is approximately $110 million (CDN) and Aegerion has a market cap of approximately $70 million (CDN) giving the new combined company a market value of approximately $180 million. This isn’t QLT’s first attempt to merge with another company, having been thwarted in the past in prior merger arrangements with Endo International, Auxilium Pharmaceuticals and InSite Vision. The planned merger with Endo International was terminated in October 2014, and likewise, Auxilium had also been carrying out plans to merge with QLT but chose instead to be bought by the aforementioned Endo International in a separate deal valued at $2.6 billion. Likewise, last year, QLT and InSite announced a merger, but that deal fell through after InSite changed its mind and accepted a higher merger offer from Sun Pharmaceutical Industries. This time QLT won’t be left at the alter so to speak, and likewise both companies under the Novelion Therapeutics Inc. banner will get a much needed rebrand and fresh start. The new company will also have quite a diversified portfolio consisting of Aegerion’s two commercially branded products, Juxtapid® (lomitapide) capsules and Myalept® (metreleptin), and QLT’s QLT091001 (Zuretinol Acetate or Zuretinol), a Phase 3-ready Ultra-Orphan Fast Track and Orphan Drug designated asset being developed for the treatment of Inherited Retinal Disease caused by underlying mutations in RPE65 or LRAT genes (IRD), which indication comprises Leber Congenital Amaurosis (LCA) and Retinitis Pigmentosa (RP). Aegerion’s CEO, Mary Szela, will serve as CEO of Novelion following the close of the transaction. Additionally, an investor syndicate comprised of both new investors and existing shareholders of both companies has committed to invest via a private placement approximately $22 million in QLT. The investment will be funded prior to the transaction close and is expected to provide Novelion with additional capital to support future operations and the potential opportunity for targeted business development initiatives. In futher business news, TVM Life Science Ventures VII a venture capital fund domiciled in Montréal, Québec, has closed the fund’s eleventh investment, establishing Mediti Pharma Inc., a company based in Montréal, Québec. The new company is developing a Phase 2 ready compound, MP-101, originally discovered by Eli Lilly and Company for the treatment of Alzheimer’s disease (AD) psychosis. The behavioral symptoms associated with AD psychosis, include hallucinations, delusions and aggression. The company is managed by CEO Dr. Ivan Shaw, formerly with Merck Frosst, Aptalis and Actavis and neurobiologist and experienced drug developer and CFO Mark Cipriano, a Boston-based highly experienced and networked executive. As for the fund itself, and its initial association with the drug, it comes about as part of a unique arrangement between TVM Capital Life Science and numerous limited partners, which includes Eli Lilly and Company. The goal of the fund is to finance and access innovation while managing risk and sharing reward. Staying in Montreal, on the clinical trial front Montreal InVivo , the city’s economic development organization with a focus on life sciences and health technologies (LSHT) sector. is partnering with Canadian Clinical Trails Coordinating Centre(CCTCC) to enhance Canada's clinical research capabilities. The partnership will result in the addition of Quebec clinical trial investigators "data from Montreal Goes Clinic to the Canadian ClinicalTrials Asset Map (CCTAM) and real-time updates down the line. The Montreal Goes Clinic itself is an initiative by Greater Montreal's life sciences"; cluster that aims to make the region a world-class centre of expertise in early stage clinical trials. The goal of this initiative is to improve Greater Montreal's business environment by helping pharmaceutical, biotech, contract research organizations (CRO's) and medical device companies perform high quality clinical trials and run clinical proofs-of- concept, thus increasing patient access to new treatments and improving medical practices by allowing clinicians to work with technologies of tomorrow and the best equipment. Frank Béraud, CEO of Montréal InVivo adds that the portal will create more visibility for Quebec's researchers and investigators throughout Canada, and will also showcase the province's capabilities in clinical research. Dr. Shurjeel Choudhri, senior vice president and head, Medical and Scientific Affairs Bayer Inc. and the current Chair of the CCTCC Executive Committee adds that the CCTAM is a great example of the collaboration of multiple stakeholders from across Canada, including representatives from the Federal and Provincial governments, industry, the Canadian Institutes of Health Research and HealthCareCAN. He calls the addition of clinical investigator data from Montreal Goes Clinic an important step towards making the CCTAM a truly comprehensive inventory of Canada's clinical research assets. If you could have a face-to- face conversation with government to discuss the life science industry, both the good and the bad what would you say? A number of years ago Biotechnology Focus used to run a special Hot Button Issue survey which gave our readers the opportunity to engage with government to get their concerns before the right people and have their voices heard. Well, with the Justin Trudeau government coming up to its ninth month in office, we thought the timing was right to do it all again. The survey kicked off yesterday and will run to July 15, 2016. Similar to our past “Hot Button” issue surveys, we want your feedback on such things as regulatory policy including reimbursement of new technologies, funding challenges, intellectual property protection, the state of the industry and much more. This survey is open to everyone in the industry, from the business sector, to research institutions, and at all levels, essentially, if your field is biotech, bioscience or life science in general we want to hear from you. This already is vibrant industry, with strong representation at major research and knowledge translation institutions, a large base of Canadian biotech SMEs and MMEs, and we’re home to many of the world's largest and leading pharmaceutical companies. Moreover, the timing for this survey couldn’t be better as the Federal government as mentioned in last week’s podcast has just launched the “Innovation Agenda”, an action plan to both redesign and redefine how we as a nation support innovation and growth. They have embarked on this Innovation Agenda in partnership and coordination with the private sector; provinces, territories and municipalities; universities and colleges; and the not for-profit sector and they have also already taken the first steps in this plan already with Budget 2016, providing support for health research, genomics, regenerative medicine, brain research and drug development and committed $800 million to support innovation networks and clusters. So there’s obviously lots that government is doing right to make Canada a friendly environment for our industry, but can we do more? Canada’s Minister of Innovation, Science and Economic Development Navdeep Bains has asked us all to step up and voice our opinions, to help further shape the future of Canada’s knowledge based economy. And our Hot Button Issue survey is your chance to do that! Your answers will be featured in a special high profile issue that will be poly-bagged with our sister publication Canadian Government Executive magazine and sent to Deputy Ministers, Assistant Deputy Ministers, Cabinet, Directors and Generals, working in Health Canada, Industry Canada, Agriculture & Agri-Food, Foreign Affairs & Internationals trade, the Privy Council as well as other public sector executives in federal and provincial departments. So here is your chance to help influence the Innovation Agenda. And remember, by taking only a couple of minutes to complete our survey, you’re helping us grow Canada’s knowledge-based economy, one answer at a time. You can access the survey by clicking the link below this podcast. That wraps up this weeks show, you can find us online at www.biotechnologyfocus.ca. Likewise, we’re always looking for feedback, story ideas and suggestions so we’d love to hear from you. Simply reach out to us on twitter: @BiotechFocus , email at biotechnology_focus@promotive.net For all of us here at Biotechnology Focus, thank you for listening.
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