Bayer Healthcare backed Metagenomi cuts US IPO valuation target to USD 563 million

New Delhi: Genetic medicines company Metagenomi Technologies said on Thursday it is aiming for a valuation of $563 million in its U.S. initial public offering (IPO), a number that is at the low end of its initial target range.

The company, backed by Moderna and Bayer Healthcare, plans to raise about $93.8 million by selling 6.25 million shares at $15 apiece.
That is the lower end of its price range of $15-$17 per share. At $17 per share, Metagenomi would have had a market value of $638 million.
Metagenomi, one of a string of healthcare companies that have recently sought to go public, is developing therapies for genetic diseases like hemophilia A.
All of its revenue has been generated from three collaboration agreements, including one with Moderna, and not any product sales. The company is yet to turn a profit.

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UP: State Budget sets Rs 10 crore to boost medical infrastructure at IIT Kanpur

Kanpur: The Uttar Pradesh state budget unveiled on Monday has brought good news for medical infrastructure in the state as it has earmarked Rs 10 crore for the financial year 2025-26 to establish a School of Medical Research and Technology (SMRT) along with a 500-bed Super Speciality Hospital at the prestigious Indian Institute of Technology (IIT), Kanpur.

Notably, the foundation stone for the Gangwal School of Medical Sciences and Technology and Yadupati Singhania Super Speciality Hospital was laid by Union Minister for Education, Skill Development, and Entrepreneurship, Dharmendra Pradhan, in July 2022 at the IIT Kanpur campus.

Also Read:Union Health Minister inaugurates Super Specialty Block at GSVM Medical College

This initiative makes IIT Kanpur the first IIT to house a medical school within its premises. The envisioned Gangwal School of Medical Sciences and Technology (GSMST) aims to integrate medical research with technological innovations, reflecting the institute’s commitment to catalyze a paradigm shift in the field. The school’s nomenclature pays homage to the notable contributions of distinguished alumnus Rakesh Gangwal, co-founder of Indigo Airlines.

The announcement has spread joy and enthusiasm among the institute’s staff and students. As per a recent media report by Times of IndiaDirector, IIT Kanpur, Prof. Abhay Karandikar said, “We had a dream to set up a medical school on the IIT Kanpur campus for the benefit of people and the nation at large. We are glad to be at the threshold of this project. The institute is resolute to provide critical healthcare needs and accelerate research and innovation in the MedTech domain for ensuring all-round development in the medical sector of the country”.

During the foundation stone ceremony, the Union Minister commended IIT-Kanpur’s commitment, anticipating that GSMST will not only fortify the healthcare landscape but also position Kanpur as a hub for affordable and forward-looking solutions catering to emerging economies, reports the daily. He further added, “The philanthropic efforts at IIT Kanpur will bridge the gap between healthcare and engineering disciplines, provide affordable technological solutions and also inspire other philanthropists and academic institutes to develop similar institutions for the welfare of the society.”

“The Gangwal School and Yadupati Singhania Super Speciality Hospital will bridge the gap between medical and technology disciplines and we believe we have achieved the ‘atmnirbhar’ Bharat vision of our Prime Minister Narendra Modi “, Prof Karandikar said.

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Recruitment for 29,000 posts at various AIIMS done in last six month: Govt

Madurai: Recruitment for 29,000 posts at various All India Institutes of Medical Sciences (AIIMS) have taken place in the last six months, Union Health Minister Mansukh Mandaviya said on Friday.

Emphasising that the government is focusing on providing the best tertiary care to people in their own states, the Health and Family Welfare Minister told the Lok Sabha that hiring is continuing at various AIIMS.

In response to supplementaries related to AIIMS, the minister said that in the last six months, recruitment has taken place for around 29,000 positions and hiring is happening on a rotation basis, including those of SC/ST and OBC.

Also Read:Union Health Minister unveils Trauma Centre at AIIMS Bhubaneswar

The government wants all AIIMS to be fully functional and the priority is to ensure the best tertiary care in the states, he said during the Question Hour.

To a member’s query, Minister of State for Health and Family Welfare Bharati Pravin Pawar said there was a delay in land acquisition for the AIIMS at Madurai in Tamil Nadu.

The budget for this AIIMS has been revised, the master plan has been finalised and tender has been awarded, she said and assured the member that the AIIMS will come up.

Earlier, Speaker Om Birla made obituary references to two former members.

The House also stood in silence for a brief while as a mark of respect for the two former members — Harmohan Dhawan and Rubab Sayeda — who passed away recently.

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Using ion beams to improve brain microscopy

Improving the way scientists can see the microscopic structures of the brain can improve our understanding of a host of brain diseases, like Alzheimer’s or multiple sclerosis. Studying these diseases is challenging and has been limited by accuracy of available models.

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Why ventilators can be tough on premature babies’ lungs

Many premature infants need mechanical ventilation to breathe. However, prolonged ventilation can lead to problems like respiratory diseases or ventilation-induced injury.

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Triplet therapy including belamaf prolongs survival in multiple myeloma

For patients with relapsed or refractory multiple myeloma (RRMM), triplet therapy of belantamab mafodotin (belamaf) plus bortezomib and dexamethasone (BVd) improves outcomes, with an acceptable safety profile, according to a study presented during the February 2024 session of the American Society for Clinical Oncology Plenary Series.

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Heart attack symptoms in women are often different than men

Sweating, nausea, dizziness and unusual fatigue may not sound like typical heart attack symptoms. However, they are common for women and may occur more often when resting or asleep.

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Reducing harmful health screenings and overtreatment in older adults

When a doctor ordered a routine prostate screening for an 80-year-old man—as doctors often do—a dramatic yellow alert popped up on the electronic health record with dire warnings.

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Fireside Ventures leads funding round of Rs 50 crore in Amaha

Mumbai: Amaha has announced securing a substantial investment of over INR 50 crore as an extended series A round. This round of funding was led by Fireside Ventures investing INR 36.4 crore as well as additional investment of INR 15+ crore by other strategic investors.

“Over time, Amaha has successfully raised one of the largest investments in mental health in India,” the Company stated. 

The Amaha mental health ecosystem provides treatment and care for a range of mental health conditions like anxiety, depression, bipolar disorder, ADHD, OCD, schizophrenia, and addictions. The organisation was founded by psychiatrist and healthcare entrepreneur Dr Amit Malik and joined by social entrepreneur Neha Kirpal as co-founder, to address the mental health treatment gap prevalent in India.

Dr. Amit Malik, Founder and CEO of Amaha, expressing his eagerness about the recent funding, stated, “The INR 50+ Crore infusion helps consolidate Amaha’s position as the leading mental healthcare provider in India and accelerates the company’s strategic expansion plans, as it continues to address the dynamic mental health challenges faced by individuals, families and organisations across the country. The partnership with Fireside Ventures creates exciting possibilities for cross-sectoral collaborations, propelling Amaha’s efforts to mainstream mental health access to all those in need.”

Ankur Khaitan, Principal, Fireside Ventures said, “At Fireside, our outlook is to look for companies building for well-being and in that context, the space of addressing mental health issues is a large unmet need in India. Amaha with their deep clinical expertise and unique business model across digital and offline clinics will be able to solve for awareness and access to a wider audience.”

Amaha acquired & partnered with India’s foremost Child and Adolescent mental health organisation Children First two years ago. 

Read also: Strides Pharma shares sold by 2 entities for Rs 81 crore

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Top 10 Messages from Evergreen Webinar on Clinical Applicability of Linagliptin Dapagliflozin in Type 2 Diabetes, Addressed by Dr V Mohan

Dr. V. Mohan, M.D., FRCP (London, Edinburgh, Glasgow & Ireland), Ph.D., D.Sc. D.Sc (Hon. Causa), FNASc, FASc, FNA, FACE, FACP, FTWAS, MACP, FRSE. Dr. V. Mohan is a Padma Shri Awardee and is the Chairman of Dr. Mohan’s Diabetes Specialities Centre in Chennai, South India, an IDF Centre of Excellence in Diabetes Care and Madras Diabetes Research Foundation, Asia’s largest stand-alone diabetes research centre.

The Evergreen webinar covered the clinical applicability of Linagliptin and Dapagliflozin in real-world clinical scenarios of Type 2 Diabetes. The case scenarios covered included newly diagnosed obese type 2 diabetes mellitus (T2DM), T2DM uncontrolled on metformin, uncontrolled T2DM with a sedentary lifestyle, long-standing T2DM with atherosclerotic cardiovascular disease (ASCVD) and rapidly declining eGFR and elderly T2DM obese patients with risk of hypoglycemia.

Below are the ten key messages addressed by Dr V Mohan from the Evergreen Webinar on the clinical applicability of Linagliptin and Dapagliflozin.

1. Diabetes Mellitus- Global Burden & High Brunt on Low & Middle-Income Countries: Diabetes is a worldwide healthcare challenge; half a billion people currently have diabetes, and this number will soon touch 1 billion. Three out of four diabetes patients live in lower- and middle-income countries. China and India alone account for 40% of the entire diabetes population in the world. Half of people have undiagnosed diabetes, which adds to the burden.

2. Poor Combined ABC Goals Achievement in India- Learnings from ICMR-INDIAB-17: The ICMR-INDIAB-17 study showed that 101 million have diabetes, 136 million have prediabetes, and 237 have either diabetes or prediabetes. Among them, 315 million of them have hypertension, with higher rates observed among all urban populations compared to rural populations. Furthermore, only 35 % of Indians have their HbA1C under control, and only 7% have their HbA1C, Blood pressure, and Cholesterol (A-B-C) under control.

3. Challenges in Glycemic Control: Due to the multiple pathophysiological defects of diabetes, the treatment should focus on clinical benefits beyond glucose control alone. Drugs with CV and renal benefits and safety are also available; even drugs that do not cause weight gain or hypoglycemia, which are the two main side effects, are advantageous. Compliance and adherence are important, so combination therapy is suggested to reduce the amount of pill intake. Clinical inertia is another big factor for uncontrolled HbA1C in the diabetes population.

4. Why Do We Need Resilient Synergistic Drugs?: Drugs that can reduce lipids, weight, blood pressure, and blood glucose will be a clear winner in India. Hitting hard and hitting early helps in achieving treatment targets. SGLT2 inhibitors mainly act in the kidney, increasing glucosuria, leading to reduction in blood glucose levels, weight and blood pressure. DPP4 inhibitors act on the beta and alpha cells, increasing gastric inhibitory polypeptide (GIP), and glucagon-like peptide-1(GLP) secretion and reducing glucagon secretion leading to sustained glycemic control. Combining the two drugs that act on diabetes defects reduces the pill burden and cost, thus improving adherence and compliance. Linagliptin alone can reduce A1C by 0.9%, while the combination with Dapagliflozin can reduce HbA1c by up to 1.36%. Only 26% of patients achieved HbA1C with Linagliptin monotherapy, while 49% achieved HbA1C target when combined with Dapagliflozin. ​​Linagliptin monotherapy lowered fasting blood glucose by 22 mg/dl, but the reduction was doubled to 52 mg/dl when combined with Dapagliflozin.

5. Efficacy and Safety of Linagliptin and Dapagliptin – Review of Published Studies: The CARMELINA trial compared Linagliptin and placebo and showed positive results favoring Linagliptin. The CAROLINA that compared Linagliptin and Glimepiride also favored Linagliptin. The DECLARE-TIMI showed favorable results with Dapagliflozin. Among the SGLT2 inhibitors, Empagliflozin and Dapagliflozin stand out with positive results and encouraging statistics. Among DPP4 inhibitors, Sitagliptin and Linagliptin exhibit a consistently normal and almost near unity safety profile in hospitalization for heart failure.

Linagliptin is neutral and safe in all stages of kidney failure, even at dialysis. Dapagliflozin benefits heart and kidney outcomes, and Linagliptin has no deleterious effect. Thus, among CV and kidney disease concerns, SGLT2i (Dapagliflozin) and DPP4i (Linagliptin) come out as clear winners.

6. What do Global & Indian Guidelines Direct?:

The Research Society for the Study of Diabetes in India (RSSDI) guidelines: The RSSDI guidelines suggest combination drugs for patients with HbA1C 1.5% above target or as a first-line even above metformin.

The American Diabetes Association(ADA) Guidelines: The ADA 2023 suggested the early use of combination therapy to prevent treatment failure. In patients with established ASCVD, heart disease, HF, and CKD, the guideline recommended the use of SGLT2 inhibitors.

The American Association of Clinical Endocrinology (AACE) Guidelines: The AACE guidelines also recommended an early use of either SGLT2 inhibitors or DPP4 inhibitors, or a combination of the two if the HbA1C is 1.5% above targets.

The Kidney Disease Improving Global Outcome (KDIGO) Clinical Practice Guideline: The KDIGO also recommended the use of SGLT2 inhibitors in treating people with T2D, CKD and an eGFR ≧20 ml/min per 1.73 m2

7. CV Safety of Linagliptin in Asian Patients: The CV benefits derived from trials (CAROLINA, CARMELINA, RCTs) showed consistent and similar benefits among Asians and other ethnicities. The Chinese show no specific benefits among Asians; higher favorable benefits are reported among Koreans and Indians, likely due to lower adiponectin levels.

8. Weight Reduction and Mitigating Genitourinary Tract Infections with Combination of Linagliptin and Dapaglilfozin: The CAROLINA trial showed better weight reductions with Linagliptin than with Glimepiride. This suggests that DPP4 inhibitors work better than SU agents for weight reduction. Linagliptin alone can reduce weight by 1.06 kg. The SGLT2 inhibitor, dapagliflozin, has weight-lowering effects and can reduce weight by 4.27 kgs. Additionally, Adding Linagliptin to SGLT2 inhibitors (Dapagliflozin) reduces the risk of genitourinary tract infection by 49% than using SGLT2 inhibitors alone. This is not observed with all SU agents.

9. Suitability of SGLT2 and DPP4 inhibitors in Indian T2DM Patients: Given the multiple pathophysiological defects of diabetes, a combination of SGLT2 and DPP4 inhibitors, with or without metformin is suitable, providing better glycemic control, pleiotropic benefits, and CV benefits. Combination therapy is recommended in Indian patients to overcome clinical inertia and ensure long-term patient adherence.

10. Clinical Applicability of Linagliptin & Dapagliflozin: Linagliptin and Dapagliflozin could be considered at any stage of the natural history of diabetes. The combination therapy is safe in diabetes, including newly diagnosed and uncontrolled, irrespective of age and BMI, risk of hypoglycemia, spectrum of CV and CKD, with the added benefit of convenience of once-daily dosing.

The EVERGREEN webinar was a scientific initiative supported by USV Pvt Ltd.

Reference:

1. V Mohan, EVERGREEN Webinar Presentation.

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