MedCity News
Terns raises $87M to advance trials of NASH drugs
The startup, which licensed three NASH candidates from Eli Lilly, raised $87 million from the drugmaker and Deerfield Management.
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After gaining a big backer in Eli Lilly & Co. two years ago, Terns Pharmaceuticals now has two NASH candidates in clinical trials. The startup, headquartered in Foster City, Calif., recently raised $87 million to push forward in a competitive market.
Currently, no drugs have been approved by the FDA for nonalcoholic steatohepatitis a form of fatty liver disease that can cause inflammation, and over the long term, can lead to scarring of the liver. After the Food and Drug Administration turned down a long-anticipated NASH drug from Intercept Pharmaceuticals, and Genfit’s candidate flopped in phase III clinical trials, the field is open for the competition.
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Report: Covid-19 hospitalizations spiked amid falling operating margins in November
The financial futures of U.S. hospitals remain shaky, as Covid-19 cases and hospitalizations surge with alarming speed nationwide. Though vaccines are being distributed, the coming months will be challenging for hospitals, a new report from Kaufman Hall shows.
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As COVID-19-related hospitalizations in the U.S. surged, hospitals and health systems’ operating margins continued to fall in November, signaling a difficult winter ahead, according to a new report from healthcare consultancy Kaufman Hall.
The report, which uses data from over 900 hospitals gathered monthly over the last three years, shows inpatient volumes surpassed 2019 levels for the first time since the beginning of the pandemic, with patient days up 4% year over year.
A new variant of SARS-Cov-2 thought to be more transmissible was discovered in Colorado’s eastern plains and San Diego, California. At the same time, federal vaccination rates are lagging far behind projections.
MedCity News
Online healthcare community DXY raises $500M
The Tencent-backed company, which offers a community for clinicians in China and consumer-facing information, raised $500 million in funding.
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DXY, an online community for clinicians in China, raised $500 million in funding. Private equity firm Trustbridge Partners led the funding round, along with Tencent and GL Ventures.
The Hangzhou-based company was founded 20 years ago by Li Tiantian, DXY’s current chairman. It started as an online platform for the medical community, where they could discuss best practices and new findings. Since then, it has built out a series of in-person clinics, as well as several consumer-facing resources, such as wellness advice or medical consultation services.