The market size of the global medical technology industry is currently around USD $400 billion and over the next three years is predicted to reach USD $495 billion, according to a PwC report. The term ‘medical technology’ covers a wide range of products, from devices to drugs to software. Advancements in the healthcare industry help to save lives by and boost excitement within the market.
The demand for healthcare is forecast to rise with the growing aging population and a rise in prevalence of chronic diseases. From data-based approaches to potential blockbuster drug candidates, advancements in healthcare may catalyze opportunities for investors looking to healthcare stocks.
Premier Health Group, Inc. (PHGRF) (PHGI) announced it is working with NexTech AR Solutions (NEXCF) to explore bringing augmented reality technology to its patient centric healthcare app to develop education tools for healthcare professionals and patients alike – some of which will be created and commercialized content for third parties.
“At Premier Health we pride ourselves in being at the forefront of changes in healthcare, so we are thrilled to be a part of the future of healthcare by enabling state of the art technological advancements to our patient centric telemedicine app,” said Dr. Essam Hamza, CEO. “AR has the potential to revolutionize both the access to data and the delivery of healthcare. The technology will help doctors and patients alike – doctors will have access to the latest and most relevant information about their patients while patients can use AR for self-education and improving the quality of treatment they receive.”
Premier Health recently announced the launch of a technology enabled mental health initiative which will focus on providing app enabled mental health counselling for patients in urban and remote populations as well as growing its development team at Cloud Practice by hiring 4 new full-time employees, 3 Web Software Developers and 1 User Interface/User Experience Designer to support the build out of its patient centric platform and mobile app – a beta version of which will be available by end of Q2 will initially be extended to the 290 clinics in Premier Health’s ecosystem.
Premier Health other recent announcements include expansion plans to formally enter the cannabis clinic space and has been in discussions with Canadian ACMPR-Licensed Producers in order to partner with a, or multiple, Licensed Producers. The company is also in the process of closing on two operating pharmacies in Metro Vancouver, with a combined revenue of approximately $6 million (FY 2018) and entered into a strategic partnership with a major online healthcare company in China, 360 Health enabling the Premier’s healthcare team to connect with patients virtually in China to provide second opinion services.
Bio-Path Holdings, Inc., (BPTH) announced a clinical update to the previously reported interim analysis from the Phase 2 trial of prexigebersen (BP1001) for the treatment of acute myeloid leukemia (AML) and provides its plans for the compound’s clinical development moving forward toward registration. In April 2018, Bio-Path completed an initial interim analysis of 17 patients from Stage 1 of the Phase 2 study which the results showed a safety and efficacy profile with 47% of patients having a response comprised of four complete response (CR) patients, including one CRi (complete response with incomplete hematologic recovery) and four patients with stable disease.
Recently, the data from the 17 evaluable patients was updated, and following a meeting with the principal investigators of the study, those results now show that the efficacy profile has improved to where 11 (65%) of the 17 evaluable patients had a response, including five (29%) who achieved CR (including one CRi) and one morphologic leukemia free state (MLFS), and six stable disease responses, including two patients who had greater than a 50% reduction in bone marrow blasts.
“These updated interim data from Stage 1 of our Phase 2 study of prexigebersen in de novo AML patients give strong evidence of the safety and efficacy profile of our lead compound and underscore its potential to provide meaningful treatment improvement in this difficult-to-treat patient population,” said Peter Nielsen, President CEO. “We were particularly pleased with these results, especially when you consider that the large percentage of these patients are secondary AML patients. The CR/CRp/CRi rate for LDAC treatment alone for the class of patients in this study was benchmarked at 7-13%1, whereas prexigebersen treatment with LDAC is currently showing a 29% CR/CRi/MLFS rate, with a highly favorable safety profile.”
Ritter Pharmaceuticals, Inc. (RTTR) announced that it has completed enrollment of 555 subjects in its first pivotal Phase 3 clinical trial of its candidate RP-G28 for the potential treatment of lactose intolerance, a study known as the “Liberatus” study (NCT03597516).
“We are encouraged and pleased to have achieved this important milestone ahead of schedule. The large number of patients interested in participating in the trial, highlights the clinical need for new treatment options in this patient population,” said Andrew J. Ritter, CEO. “We remain on track for the top-line data readout of the Liberatus study in early Q4 2019. As we near data readout and continue to build our commercialization strategy for RP-G28, we look forward to advancing our ongoing discussions with potential partners for the continued further development and potential launch of this exciting product candidate.”
Participants undergo a 2-week screening period, followed by a randomized 30-day study drug treatment period and a 90-day “real world experience” period to assess study drug response and durability of effect after treatment as patients consume their normal diets, including dairy products. The primary endpoint is the mean change in lactose intolerance symptom composite score 30-days post-treatment compared to baseline and secondary endpoints evaluate lactose intolerance signs and symptom outcomes to evaluate patients’ continued treatment benefit.
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