Data Projects the Global Biotechnology Market Will Continue to Grow

Monday, October 22, 2018 General News
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NEW YORK, October 22, 2018 /PRNewswire/ --

According to Grand View

Research, the global biotechnology market is expected to reach USD 727.1 billion by 2025. The emergence of certain key factors in the biotechnology market is expected to drive the strong growth. These key factors include
regenerative medicine and genetics in diagnostics, various developments in cancer therapeutics, as well as advances made in the treatment of common diseases such as Multiple Sclerosis and Alzheimer's. Innovative companies in the industry are engaged in large clinical trials and strong R&D investments for cancer therapeutics, as oncology is one of the most promising areas of focus in the biotech industry. Cognetivity Neurosciences Ltd. (OTC: CGNSF), Amgen Inc. (NASDAQ: AMGN), Allergan plc (NYSE: AGN), Stryker Corporation (NYSE: SYK), Varian Medical Systems, Inc. (NYSE: VAR)

"Rising incidence of oncology diseases is anticipated to drive the demand for next-generation cancer diagnostic tests. These tests are expected to facilitate early diagnosis and enable efficient prognosis of various forms of cancer, which in turn, is expected to positively influence progress of this vertical over the forecast period. Development and introduction of product offerings by a number of large entities is a significant factor expected to provide lucrative growth avenues to this market, active participation of global organizations, such as National Cancer Institute, Cancer Research Institute, National Foundation for Cancer Research, and Cancer Research UK, are supportive of the projected sector progress," GVR reports.

Cognetivity Neurosciences Ltd. (OTCQB: CGNSF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CGN). Earlier this month the company announced news that, it has been selected to present landmark results from its ongoing research into the use of the company's Integrated Cognitive Assessment in the detection of early stage cognitive impairment associated with Multiple Sclerosis at the 34th congress of the European Committee For Treatment and Research In Multiple Sclerosis (MS) (ECTRIMS), held in Berlin, Germany.

The European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) is a non-profit organisation and an independent representative European-wide organisation devoted to Multiple Sclerosis. ECTRIMS works with researchers and clinicians of its member countries and with other organisations that share similar missions and objectives on a worldwide scale, creating networking and collaboration opportunities. In a talk titled 'A brief language-independent and self-administered computerized test for cognitive assessment in multiple sclerosis (MS)', Cognetivity's Chief Scientific Officer, Dr. Seyed-Mahdi Khaligh-Razavi will present an overview of the company's unique AI-based approach, and deliver positive results from ongoing trials into the effectiveness of its proprietary Integrated Cognitive Assessment (ICA) platform for early detection of cognitive impairment in populations of Multiple Sclerosis patients.

The results that will be included in the presentation are as follows:

  • Details on the ICA, a five-minute test delivered via Apple iPads, the results from which are unaffected by culture, language and education, and which can be carried out unsupervised, meaning there is no need for health professionals to administer, a high cost factor with existing tests;
  • Data demonstrating the ICA's excellent consitency for repeated testing and high level of convergent validity with the highly sensitive and expert-administered BICAMS battery of cognitive tests;
  • Data demonstrating the ICA test's ability to discriminate between MS patients and healthy control subjects;
  • Data demonstrating the ICA's high level of accuracy in discriminating cognitively normal from cognitively impaired participants; and
  • Data demonstrating that the ICA test showed no learning bias, making it suitable for frequent monitoring of cognitive performance.

Select attendees of the meeting include leading global pharmaceutical companies Merck, Novartis, Roche and Sanofi and leading academics from the field of MS research from institutions such as Cambridge University, Harvard Medical School, Massachussetts General Hospital, University College London and UCSF.

Cognetivity's CEO, Dr Sina Habibi said: "We are very excited that our Chief Scientific Officer, Dr. Khaligh-Razavi, is presenting these results at the ECTRiMS meeting, a very prestigious MS conference. What is particularly important is that we are able to demonstrate that our ICA platform can be used in other disease areas over and above our excellent, research-backed capability in Alzheimer's disease and mild cognitive impairment (MCI). The fact that the ICA is able to detect the early signs of cognitive impairment associated with MS and that it performs very well compared with a highly sensitive, time consuming, expert-administered cognitive test demonstrates its effectiveness in a number of disease areas. The advantages of our platform in terms of sensitivity, usability, administration cost and repeatability over existing testing methods are clear and, based on those factors, we believe our technology has an important role to play in the future of cognitive testing in a growing number of major disease areas."

Cognitive impairment is increasingly recognized to be a core feature of MS, with important implications for the everyday life of individuals with MS and for disease management. There are an estimated 2.3 million sufferers worldwide and the global therapeutics market for MS estimated to reach US $24.8 billion by 2024. Early detection of cognitive impairment in MS is an important aspect of the clinical appraisal of sufferers, as its presence has a negative influence on physical independence and competence in daily activities and currently, cognitive testing involves time-consuming, expert administered pen and paper tests. There is a widely recognized and urgent need for an easy to administer test with the ability to reliably detect and regularly monitor cognitive ability in MS patients in order to allow clinicians to direct the most effective treatment to sufferers.

About Cognetivity Neurosciences Ltd. - Cognetivity is a technology company developing a cognitive testing platform, the Integrated Cognitive Assessment (ICA) for use in medical and commercial environments. Cognetivity's ICA uses Artificial Intelligence and machine learning techniques to help detect the earliest signs of impairment by testing the performance of large areas of the brain, potentially allowing early diagnosis of dementia. Cognetivity aims to develop the ICA through planned clinical studies to the market in North America and Europe.

For more information please visit - http://www.cognetivity.com

Amgen Inc. (NASDAQ: AMGN) is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. Amgen recently announced the groundbreaking of its new next-generation biomanufacturing plant that will be constructed at its West Greenwich, R.I. campus. The new plant is the first-of-its-kind in the U.S. and will use Amgen's proven next-generation biomanufacturing capabilities to manufacture products for the U.S. and global markets. A next-generation biomanufacturing plant incorporates multiple innovative technologies into a single facility, and therefore is built in half the construction time with approximately one half of the operating cost of a traditional plant. Next-generation biomanufacturing plants require a smaller manufacturing footprint and offer greater environmental benefits, including reduced consumption of water and energy and lower levels of carbon emissions. Within the plant, the equipment is portable, smaller and some components are disposable, which provides greater flexibility and speed when manufacturing different medicines simultaneously. This eliminates costly and complex retrofitting inherent in standard facilities and allows Amgen to respond to changing demands for its medicines with increased agility, ultimately impacting the speed at which a medicine is available for patients. "Biologics manufacturing is a complex science and has long been a competitive advantage for Amgen," said Robert A. Bradway, Chairman and Chief Executive Officer at Amgen. "We are working to extend that advantage even further with a next-generation biomanufacturing plant in Rhode Island that will produce medicines to serve patients around the world suffering from serious illnesses."

Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical leader. Allergan plc recently announced the completion of two positive safety and tolerability studies of ubrogepant for the acute treatment of migraine. The first study (UBR-MD-04) evaluated the long-term safety and tolerability of ubrogepant (50 mg and 100 mg) compared to usual care for the acute treatment of migraine in adults for one year. The second study (3110-105-002) evaluated the hepatic safety and tolerability of ubrogepant 100 mg compared to placebo in healthy study participants over eight weeks. Based on the completion of these safety studies for ubrogepant and previously reported efficacy and safety results from the ubrogepant ACHIEVE I (UBR-MD-01) and ACHIEVE II (UBR-MD-02) studies, Allergan will submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) by the first quarter of 2019. Allergan anticipates that the ubrogepant NDA will be the first oral CGRP receptor antagonist submitted in the U.S. for the acute treatment of migraine with or without aura. "Allergan remains at the forefront of addressing unmet patient needs among migraine patients by developing new and innovative treatment options," said David Nicholson, Chief Research and Development Officer, Allergan. "We are pleased with the positive results from these two important studies supporting the safety and tolerability of ubrogepant and look forward to filing the NDA for this promising treatment option for adults living with migraine."

Stryker Corporation (NYSE: SYK) is one of the world's leading medical technology companies and, together with its customers, is driven to make healthcare better. Stryker recently announced the acquisition of privately-held HyperBranch Medical Technology, Inc. for a total equity value of approximately USD 220 Million in an all cash transaction. HyperBranch is dedicated to developing medical devices based on its proprietary polymers and cross-linked hydrogels. Its Adherus AutoSpray Dural Sealant product is one of only two FDA-approved dural sealants on the market. As a PMA approved and CE cleared hydrogel that is indicated for use as an adjunct to standard methods of dural repair to aid in creating a watertight closure of the dura, the Adherus product is highly complementary to Stryker's Craniomaxillofacial division. The patent protected sealant formulation, combined with a differentiated delivery system, is proven through clinical trials to provide clinically safe and effective dural closure. "The acquisition of HyperBranch supports our growth strategy within our Neurotechnology business," said Spencer S. Stiles, Group President, Neurotechnology, Instruments and Spine for Stryker. "The addition of Adherus to our cranial closure portfolio strengthens our position of excellence in the dural repair space and aligns with Stryker's mission of making healthcare better."  

Varian Medical Systems, Inc. (NYSE: VAR) is a leader in developing and delivering cancer care solutions and is focused on creating a world without fear of cancer. Varian recently announced the acquisition of privately-held software company Noona Healthcare, developer of a cloud-based, mobile service designed to capture cancer patient-reported outcomes (PROs). The Noona patient software app lets clinics capture PROs and communicate directly with patients. This acquisition expands Varian's portfolio of cancer care solutions and fits the company's long-term growth and value creation strategy. Noona's intuitive user interface creates an engaging experience for patients that encourages a high rate of adoption and adherence over long periods. Noona helps patients and care teams to proactively manage patient symptoms, which could lead to improved clinical outcomes and reduced hospitalization and emergency room visits. "We are excited to add the Noona technology and team to Varian as we continue to become a global leader in multi-disciplinary integrated cancer care solutions, focused on improving patient care," said Corey Zankowski, senior vice president, Oncology Software Solutions, Varian. "This acquisition adds smart mobile technology to Varian's cloud-based software portfolio. It will allow oncologists to capture real-time PROs and monitor and proactively manage their patient's symptoms. Sustained engagement with patients may help oncologists detect early signs of potential recurrence or progression of metastatic disease."

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