TOP STORIES
IMS Health, recently merged with Quintiles, published a report noting that global spending on oncology therapeutics and supportive care drugs rose 11.5 percent to $107 billion. The report says that more than 20 tumor types are being treated with one or more of the 70 new cancer treatments that have been launched in the past five years.
“The new science redefining cancer as a large number of narrowly defined diseases and yielding therapeutic options for an expanding number of patients is rapidly transforming the oncology treatment landscape,” said Murray Aitken, IMS Health senior vice president and executive director of the IMS Institute for Healthcare Informatics. “Most health systems are struggling to adapt and embrace this evolution…” —BusinessWire
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
The FDA gave 510(k) clearance to the first liquid biopsy for lung cancer. It is designed to detect epidermal growth factor receptor gene mutations in non-small cell lung cancer patients. Astellas Pharma Technologies manufactures the technology and Genentech distributes it. — Medscape
NantHealth said its priced its initial public offering at $14 per share, the midprice of its estimated range. — The Wall Street Journal
LIFE SCIENCES
It may surprise few people to learn that after weeks of the steady drip of federal investigations of Theranos and the damning move by the biotech company to void two years’ worth of blood tests, Forbes said Theranos Founder Elizabeth Holmes no longer has a net worth of $4.5 billion. It revised the net worth to zero about one year after Holmes appeared at the top of its list of America’s richest self-made women last year. Among the reasons it gave for the change were Theranos has not delivered on its promise to publish data and too little is known about the company. By that rationale, this revision should have happened awhile ago. — Forbes
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
Precision medicine startup Strata Oncology closed a $12 million Series A financing to advance its tumor sequencing business and implementation of the Strata Trial, an initiative to boost enrollments in precision medicine clinical trials. Arboretum Ventures and Baird Capital co-led the financing, with additional funding provided by Strata’s existing investor, Michigan eLab. — PR Newswire
European regulators granted Novartis additional indications for its cancer drug Afinitor, including certain types of advanced gastrointestinal and lung neuroendocrine tumors. Novartis already secured approval from the U.S. Food and Drug Administration for these indications. — Reuters
OvaScience raised $53 million to support its fertility treatments in the run-up to the company bringing its OverTure and OvaPrime treatments to market. — MassDevice
PAYERS-PROVIDERS
There’s been a steep decline in laser vision correction surgeries also known as lasik surgery.The number of these procedures plummeted more than 50 percent, since 2007 when there were 1.5 million surgeries to 604,000 in 2015. — The Chicago Tribune
University of Pittsburgh Medical Center has inked its third deal in China, this time with First Chengmei Medical Industry Group to provide cancer care services on Hainan Island. — Becker’s Hospital Review
TECHNOLOGY
Deadspin obtained a letter from the NFL Players Association’s Executive Director DeMaurice Smith sent to each team’s representative following the theft of NFL player electronic and paper medical records from the car of Washington Redskins’ athletic trainer in April. Now the dilemma to wrestle with shifts to: who is responsible for the securing that information? — Deadspin
Epic Systems Founder and CEO Judy Faulkner placed third on Forbes’ list of America’s richest self-made women. — Forbes
POLITICS
The Office of the National Coordinator for Health IT began listing more detailed and easier-to-understand information about certified health IT. The goal is to give purchasers of health tech info the 411 on things like costs and limitations they may encounter when implementing and using certified health IT products. The disclosure of this information is required by ONC’s recent 2015 Edition final rule, which includes several provisions to increase transparency and accountability in the health IT marketplace and to assist purchasers to better compare and select products that meet their needs. — HealthIT.gov
A LITTLE BIT EXTRA
The inherent problem with being a futurist engineer, as near as I can tell, is that it can take years for most people to catch on to your way of thinking. That seems particularly true of Elon Musk, the PayPal entrepreneur who is behind Space Exploration Technologies Corp. and Tesla. So when he ponders whether we’re living in a video game…— Gizmodo
Photo: BigStock Photos
