StemCell Therapy

Study results from an open-label, single-dose, multi-center, multinational phase III trial, presented during the late-breaking abstract session of the all-virtual 62nd American Society of Hematology (ASH) Annual Meetings show that etranacogene dezaparvovec (previously known was AAV5-hFIXco-Padua; AMT-061; uniQure/CSL Behring), an investigational gene therapy for hemophilia B, is safe and effective.

The two most common types of hemophilia are hemophilia A, in which patients is lack of clotting Factor VIII, and hemophilia B, caused by a lack of the ability to produce the blood clotting factor IX as the result of an inherited mutation of the gene for factor IX.

Both types of hemophilia can lead to spontaneous and uncontrolled bleeding into muscles, organs, and joints as well as prolonged bleeding following injuries or surgery, which leads to joint deterioration and chronic pain.

Hemophilia B, which accounts for about one-fifth of hemophilia cases.

Clinical trialThe study of etranacogene dezaparvovec recruited adult male patients with severe or moderate-severe hemophilia B.

The results of the study demonstrated that a single administration of the gene therapy etranacogene dezaparvovec led to sustained increases of Factor IX to functionally curative levels capable of eliminating the need for regular infusions to control and prevent bleeding episodes. As a result, most patients were able to stop intensive intravenous regimens. The studys authors believe that the results may open doors for patients previously not included in gene therapy trials.

Blood clotting proteinIn the trial included 52 patients and is the largest and most inclusive hemophilia B gene therapy trial to date. The trial is also the first to include patients with certain immune system markers and found that they did not appear to confer any increased risks, a finding that could significantly broaden the number of patients who may be eligible for gene therapy.

A majority of trial participants (96%) successfully discontinued factor IX replacement therapy after receiving the gene therapy and have been producing their own factor IX for six months. The findings suggest gene therapy could, with a single treatment, give patients the ability to maintain Factor IX levels and reduce or eliminate the need for additional factor IX replacement therapy, according to researchers.

Most patients with hemophilia B are bound to a prophylactic factor regimen of one to two intravenous infusions per week from birth through the rest of their life, said senior study author Steven W. Pipe, M.D., of the University of Michigan, Ann Arbor, Michigan, who presented the result of the study during the Late-Breaking Abstracts session on Tuesday, December 8 at 7:00 a.m. Pacific time.

Gene therapy offers the chance to liberate patients from the burden of their prior treatments, allowing for spontaneity and the freedom to do more in day-to-day life, Pipe added.

Replacement therapyFactor IX replacement therapy can reduce bleeding associated with hemophilia B, but it requires weekly or biweekly infusions to maintain factor IX levels, a burdensome regimen that costs several hundred thousand dollars per year.

In gene therapy, viral particles are used to shuttle engineered genes to cells in the liver. These genes replace the patients faulty factor IX gene, allowing the patients own body to produce factor IX on an ongoing basis. While several gene therapies for hemophilia have shown promise in early phase trials, the study is the first phase III trial to test the approach in a large and diverse array of patients, Pipe said.

Fifty-four patients enrolled in the study; all were dependent on factor IX replacement therapy, and 70% had bleeding episodes in the six months prior to the study despite this prophylactic treatment.

After receiving the etranacogene dezaparvovec gene therapy via a single infusion lasting roughly one hour, factor IX activity increased rapidly from a baseline of up to 2% (moderate to severe hemophilia) to a mean of 37% (very mild hemophilia) at 26 weeks, meeting the trials primary endpoint.

At that level, a patients bleeding risk is essentially the same as someone without hemophilia, Pipe noted.

Seventy-two percent of patients reported no bleeding events in the 26 weeks after receiving the gene therapy.

This tells us that the bleeding phenotype can be corrected through this treatment, which is a remarkable achievement, Pipe said.

Fifteen patients experienced some bleeding, which the researchers indicate is not unexpected given that many of the patients had severely affected joints entering the trial.

What weve seen from patients in the study is that they really dont have to think about their hemophilia anymore. The transformative nature that we hear from the patient stories is, to me, the most important outcome from this study, Pipe said.

Neutralizing antibodiesThe trial is also the first to attempt gene therapy in patients with neutralizing antibodies, a component of the immune system that helps the body fight pathogens. About 40% of trial participants had antibodies to adeno-associated virus serotype 5, or AAV5*, the viral vector used in etranacogene dezaparvovec.

In any other trial protocol, these patients would not have been eligible to participate, Pipe noted.

Previous trials have excluded such patients from gene therapies that use viral vectors under the assumption that antibodies could either block the uptake of the viral vectors in the liver or trigger a dangerous immune response to the therapy. The trial found no evidence of either problem, suggesting neutralizing antibodies do not preclude successful gene therapy.

Two patients did not respond to gene therapy. One did not receive a full dose because the infusion was stopped after the patient showed signs of a reaction to the infusion. The other had a level of neutralizing antibodies about five times higher than any other patient. Since other patients with neutralizing antibodies responded well to the therapy regardless of their level of antibodies, this finding suggests antibodies may pose a problem only at extremely high levels.

No treatment-related serious adverse events were reported. Adverse events were relatively common, occurring in 68% of patients, but most were mild and related to the infusion itself. Nine patients showed evidence of an immune response to the therapy, which was resolved in all cases with a course of corticosteroids.

The researchers will continue to follow patients for five years. Patients will be assessed for sustained factor IX production and effective bleed control over 52 weeks, as well as patient-reported outcome measures to assess the impact on health-related Quality of Life (hrQoL).

Note* Adeno-associated virus serotype 5- (AAV5-) based gene therapies have been demonstrated to be safe and well-tolerated in a multitude of clinical trials. Etranacogene dezaparvovec consists of an AAV5 viral vector carrying a gene cassette with the patent-protected Padua variant of Factor IX (FIX-Padua). The investigational agent has been granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration and access to the Priority Medicines (PRIME) regulatory initiative by the European Medicines Agency.

Clinical trialsHOPE-B: Trial of AMT-061 in Severe or Moderately Severe Hemophilia B Patients NCT03569891

Reference[1] Pipe SW, Recht M, Key NS, Leebeek FWG, Castaman G, Lattimore SU, Van der Valk P, Peerlinck K, et al. LBA-6 First Data from the Phase 3 HOPE-B Gene Therapy Trial: Efficacy and Safety of Etranacogene Dezaparvovec (AAV5-Padua hFIX variant; AMT-061) in Adults with Severe or Moderate-Severe Hemophilia B Treated Irrespective of Pre-Existing Anti-Capsid Neutralizing Antibodies [Abstract LBA-6]

Original post:
ASH 2020: Novel Gene Therapy Found to be Safe and Effective in Treatment of Hemophilia B - OncoZine

bluebird bio has presented long-term data from its Zynteglo one-time gene therapy for the blood disorder beta-thalassaemia, as the company continues talks with payers in Europe to bring the ultra-pricey treatment to market.

The European Medicines Agency (EMA) has granted a conditional marketing authorisation for the drug that will be marketed as Zynteglo (betibeglogene autotemcel), meaning its licence must be renewed each year until confirmatory data is available.

Results announced at the American Society of Hematology could help bluebird make the case for the long-term use of the therapy as the treatment approaches the market in Europe.

In the US, Zynteglo has hit a speed-bump with the FDA, which is asking for more information about production facilities before a review of clinical data can begin.

Of the 10 patients enrolled in the ongoing long-term study (LTF-303) from a phase 3 programme, 9/10 (90%) were transfusion independent (TI) and all these patients remain transfusion independent.

David Davidson, chief medical officer at bluebird, said: All of the patients in our phase 3 studies who achieved transfusion independence have maintained it, with the durability of the treatment effect underscored by patients from our earlier studies reaching their five-year anniversaries of freedom from transfusions.

In a group of patients aged under 18 from the Northstar-2 and Northstar-3 phase 3 studies, 87% (13 out of 15) achieved TI and remained so.

In a long-term follow-up 53% of patients who achieved TI and restarted iron chelation have since stopped and 30% who achieved TI now receive phlebotomy to reduce iron levels.

Davidson added: Transfusion independence has been observed in paediatric, adolescent and adult patients and across genotypes suggesting outcomes with this gene therapy may be consistent regardless of age or genotype.

In Europe bluebird has set a price of up to $1.58 million euros for a single shot.

This is paid in instalments, with 315,000 euros paid up front and four additional payments due only if the treatment continues to be effective.

Zynteglo is already launched in Germany and is nearing the end of its year of free pricing.

But its fair to say that the therapy wont come cheaply even though most member states will likely end up negotiating a lower price.

In England, cost-effectiveness body NICE is reviewing Zynteglo and is due to publish draft document early in the new year.

Although its too early to say how the review will go, NICE will be looking for more certainty on the long-term effects of the therapy.

The latest data wont be part of the submission to NICE, but the company hopes that an ongoing review of the cost-effectiveness bodys methodology will help novel gene therapies get to market.

Nicola Redfern, general manager of bluebird bio UK, is hopeful that NICE will refine its existing Quality Adjusted Life Year (QALY) and find better ways to deal with uncertainties in clinical data.

How we deal with uncertainties is going to be fundamentally important, she said.

Another issue to address is the discount rate NICE uses to calculate the value of medicines and their long-term impact on patients lives.

The 3.5% discount rate currently used means that these benefits reduce quickly over time in the view of NICE and Redfern agrees with NICEs own proposals to adopt the 1.5% discount rate used by the Treasury.

We agree with NICE that there is already evidence to bring it in line with the rate in the Treasury Green Book.

Read more:
Bluebird trumpets long-term data from beta-thalassaemia gene therapy - - pharmaphorum

This weekend brought some really significant news in the long-running effort to use gene editing to treat human disease. As most readers will have heard, Boston Childrens Hospital and a Vertex/CRISPR effort both published papers in the NEJM addressing sickle-cell anemia and beta-thalassemia. (Update: edit to fix attribution).

These diseases have long been linked when it comes to gene therapy ideas, because both of them have defects in the hemoglobin protein as their cause. And its long been thought that both could be treated by getting adults to re-express the fetal hemoglobin protein its on a different gene entirely, and thus does not have any of the genetic problems that affect the adult hemoglobin gene. The normal course of events is for babies to stop expressing the fetal form and switch over to regular hemoglobin, and its been worked out that a particular transcription factor called BCL11a is a key player in that transcriptional repression of the fetal hemoglobin gene. That plays right into the usual way that we tend to think about therapeutic possibilities: whether its enzymes, receptors, or expression of whole proteins, we have a lot more tools to mess things up and interrupt processes than we have to make them run faster or better. So the possibility of interrupting BCL11as function has been a tempting one for many years.

Its hard to do by traditional means, though. (Full disclosure: I have, at different times in my career, been involved with such efforts, but none have ever come near the clinic.) Transcription factors are notoriously hard to get a handle on with small molecule therapeutics, and many unsuccessful runs have been taken at BCL11a ligands to try to interrupt its functions in one way or another. My general impression is that the protein doesnt much care about recognizing small-molecule ligands (and its far from the only one in that category, for sure). Youd think that if you ran a few hundred thousand (or a few million) various molecules past any given protein that youd find a few of them that bind to it, but that assumption is too optimistic for most transcription factors. Youre also going to have a hard row to hoe (to use an old Arkansas expression) if you try to break up their interactions with their DNA binding sites: a significant amount of capital has gone down the chute trying to get that to work, with (as far as I can tell) not much to show for it.

Theres another complication: BCL11a has a lot of other functions. Every protein has a lot of other functions, but for transcription factors, the issue can be especially fraught. If you had a small molecule that really did interfere with its activity, what would happen if you just took a stiff dose of it? Probably a number of things, including some interesting (and not necessarily welcome) surprises. There have been a number of ideas about how to get around this problem, but a problem it is.

So its on to biological mechanisms. The BCH team reports on using RNA interference to do the job they get cells to express a short hairpin RNA that shuts down production of BCL11a protein, with some microRNA work to target this to the right cell lines. And the Vertex/CRISPR team, naturally, uses CRISPR itself to go in and inactivate the BCL11a gene directly. Both approaches take (and have to take) a similar pathway, which is difficult and expensive, but still the best shot at such therapies that we have. You want the fetal hemoglobin expressed in red blood cells, naturally, and red blood cells come from CD34+ stem cells in the bone marrow. Even if you havent thought about this, you might see where its going: you take a bone marrow sample, isolate these cells, and then do your genetic manipulation to them ex vivo. Once youve got a population of appropriately re-engineered cells ready to go, you go kill off the bone marrow in the patient and put the reworked cells back in, so theyre the only source there for red blood cells at all. A bone marrow transplant, in other words a pretty grueling process, but definitely not as much as having some sort of blood-cell-driven cancer (where the therapy uses compatible donor cells from someone else without such a problem), or as much as having full-on sickle cell disease or tranfusion-dependent thalassemia.

You can also see how this is a perfect setup for gene therapy: theres a defined population of cells that you need to treat, which are available in a specific tissue via a well-worked-out procedure. The problem youre trying to correct is extremely well understood in fact, it was the first disease ever characterized (by Linus Pauling in 1949) as purely due to a genetic defect . And the patients own tissue is vulnerable to chemotherapy agents that will wipe out the existing cell population, in another well-worked-out protocol, giving the newly reworked cells an open landscape to expand in. You have the chance for a clean swap on a defined target, which is quite rare. In too many other cases the problem turns out to involve a fuzzy mass of genetic factors and environmental ones, none of which by themselves account for the disease symptoms, or the tissue doesnt allow you to isolate the defective cells easily or doesnt allow you to clear them out for any new ones you might generate, and so on.

Both the Vertex/CRISPR and BCH techniques seem to work and in fact, to work very well. There are now people walking around, many months after these treatments, who were severely ill but now appear to be cured. Thats not a word we get to use very often. They are producing enough fetal hemoglobin, more than enough to make their symptoms completely disappear no attacks, no transfusions, just normal life. And so far there have been no side effects due to the altered stem cells. An earlier strategy from Bluebird (involving addition of a gene for a modified adult hemoglobin) also seems to be holding up.

These are revolutionary proofs of concept, but at the same time, they are not going to change the course of these diseases in the world not right now, anyway. Bone marrow transfusion is of course a complex process that costs a great deal and can only be done in places with advanced medical facilities. But what weve established is that anything that can cause fetal hemoglobin to be expressed should indeed cure these diseases that idea has been de-risked. As has the general idea of doing such genetic alteration in defined adult tissues (either RNA interference or CRISPR). From here, we try to make these things easier, cheaper and more general, to come up with new ways of realizing these same goals now that we know that they do what we hoped that they would. This work is already underway new ways to target the affected cell populations rather than flat-out chemotherapy assault, new ways to deliver the genetically altered cells (or to produce them on site in the patients), ways to make the switchover between the two more gradual, and so on. There are lot of possible ways, and we now know where were going.

See the article here:
Gene Therapy, Absolutely and For Real | In the Pipeline - Science Magazine

CAMBRIDGE, Mass.--(BUSINESS WIRE)--bluebird bio, Inc. (Nasdaq: BLUE) announced that new data from Group C of its ongoing Phase 1/2 HGB-206 study of investigational LentiGlobin gene therapy (bb1111) for adult and adolescent patients with sickle cell disease (SCD) show a complete elimination of severe VOEs and VOEs between six and 24 months of follow-up. These data are being presented at the 62nd American Society of Hematology (ASH) Annual Meeting and Exposition, taking place virtually from December 5-8, 2020.

Now with more than two years of data, we continue to observe promising results in our studies of LentiGlobin for SCD that further illustrate its potential to eliminate the symptoms and devastating complications of sickle cell disease. Consistently achieving the complete resolution of severe vaso-occlusive events (VOEs) and VOEs between Month 6 and Month 24 follow-up is unprecedented other than with allogeneic stem cell transplantation. Importantly, our data show the potential for LentiGlobin for SCD to produce fundamentally disease-modifying effects with sustained pancellular distribution of gene therapy-derived anti-sickling HbAT87Q and improvement of key markers of hemolysis that approach normal levels, said David Davidson, M.D., chief medical officer, bluebird bio. In addition to these clinical outcomes, for the first time with a gene therapy we now have patient-reported outcomes through the validated PROMIS-57 tool, showing reduction in pain intensity at 12 months after treatment with LentiGlobin for SCD. These results provide insight into the potential real-life impact LentiGlobin for SCD may offer patients.

SCD is a serious, progressive and debilitating genetic disease. In the U.S., the median age of death for someone with sickle cell disease is 43 46 years. SCD is caused by a mutation in the -globin gene that leads to the production of abnormal sickle hemoglobin (HbS). HbS causes red blood cells to become sickled and fragile, resulting in chronic hemolytic anemia, vasculopathy and unpredictable, painful VOEs.

In the HGB-206 study of LentiGlobin for SCD, VOEs are defined as episodes of acute pain with no medically determined cause other than a vaso-occlusion, lasting more than two hours and severe enough to require care at a medical facility. This includes acute episodes of pain, acute chest syndrome (ACS), acute hepatic sequestration and acute splenic sequestration. A severe VOE requires a 24-hour hospital stay or emergency room visit or at least two visits to a hospital or emergency room over a 72-hour period, with both visits requiring intravenous treatment.

LentiGlobin for SCD was designed to add functional copies of a modified form of the -globin gene (A-T87Q-globin gene) into a patients own hematopoietic (blood) stem cells (HSCs). Once patients have the A-T87Q-globin gene, their red blood cells can produce anti-sickling hemoglobin (HbAT87Q) that decreases the proportion of HbS, with the goal of reducing sickled red blood cells, hemolysis and other complications.

As a hematologist, I regularly see the debilitating effects of pain events caused by sickle cell disease. Pain has an overwhelmingly negative impact on many facets of my patients lives and can lead to prolonged hospitalizations, said presenting study author Alexis A. Thompson, M.D., professor of pediatrics at Northwestern University Feinberg School of Medicine and head of hematology at Ann and Robert H. Lurie Childrens Hospital of Chicago. The results observed with LentiGlobin gene therapy for SCD include the complete elimination of severe vaso-occlusive pain episodes, which is certainly clinically meaningful, but also for the first time, we have documented patients reporting that they are experiencing improved quality of life. This degree of early clinical benefit is extraordinarily rewarding to observe as a provider."

As of the data cut-off date of August 20, 2020, a total of 44 patients have been treated with LentiGlobin for SCD in the HGB-205 (n=3) and HGB-206 (n=41) clinical studies. The HGB-206 total includes: Groups A (n=7), B (n=2) and C (n=32).

HGB-206: Group C Updated Efficacy Results

The 32 patients treated with LentiGlobin for SCD gene therapy in Group C of HGB-206 had up to 30.9 months of follow-up (median of 13.0; min-max: 1.1 30.9 months).

In patients with six or more months of follow-up whose hemoglobin fractions were available (n=22), median levels of gene therapy-derived anti-sickling hemoglobin, HbAT87Q, were maintained with HbAT87Q contributing at least 40% of total hemoglobin at Month 6. At last visit reported, total hemoglobin ranged from 9.6 15.1 g/dL and HbAT87Q levels ranged from 2.7 8.9 g/dL. At Month 6, the production of HbAT87Q was associated with a reduction in the proportion of HbS in total hemoglobin; median HbS was 50% and remained less than 60% at all follow-up timepoints. All patients in Group C were able to stop regular blood transfusions by three months post-treatment and remain off transfusions as of the data cut-off.

Nineteen patients treated in Group C had a history of severe VOEs, defined as at least four severe VOEs in the 24 months prior to informed consent (annualized rate of severe VOE min-max: 2.0 10.5 events) and at least six months follow-up after treatment with LentiGlobin for SCD. There have been no reports of severe VOEs in these Group C patients following treatment with LentiGlobin for SCD. In addition, all 19 patients had a complete resolution of VOEs after Month 6.

Hemolysis Markers

In SCD, red blood cells become sickled and fragile, rupturing more easily than healthy red blood cells. The breakdown of red blood cells, called hemolysis, occurs normally in the body. However, in sickle cell disease, hemolysis happens too quickly due to the fragility of the red blood cells, which results in hemolytic anemia.

Patients treated with LentiGlobin for SCD in Group C demonstrated near-normal levels in key markers of hemolysis, which are indicators of the health of red blood cells. Lab results assessing these indicators were available for the majority of the 25 patients with 6 months of follow-up.

The medians for reticulocyte counts (n=23), lactate dehydrogenase (LDH) levels (n=21) and total bilirubin (n=24) continued to improve compared to screening values and stabilized by Month 6. In patients with Month 24 data (n=7), these values approached the upper limit of normal by Month 24. These results continue to suggest that treatment with LentiGlobin for SCD may improve biological markers to near-normal levels for SCD.

Pancellularity

As previously reported, assays were developed by bluebird bio to enable the detection of HbAT87Q and HbS protein in individual red blood cells, as well as to assess if HbAT87Q was pancellular, or present throughout all of a patients red blood cells. In 25 patients with at least six months of follow-up, on average, more than 80% of red blood cells contained HbAT87Q, suggesting near-complete pancellularity of HbAT87Q distribution and with pancellularity further increasing over time.

HGB-206: Improvements in Health-Related Quality of Life

Health-related quality of life (HRQoL) findings in Group C patients treated with LentiGlobin for SCD in the HGB-206 study were generated using the Patient Reported Outcomes Measurement Information System 57 (PROMIS-57), a validated instrument in SCD.

Data assessing pain intensity experienced by nine Group C patients were analyzed according to baseline pain intensity scores relative to the general population normative value: 2.6 on a scale of 0-10, where 10 equals the most intense pain. Data were assessed at baseline, Month 6 and Month 12.

Of the five patients with baseline scores worse than the population normative value average, four demonstrated clinically meaningful reductions in pain intensity at Month 12; the group had a mean score of 6.0 at baseline and a mean score of 2.4 at Month 12. Of the four patients with better than or near population normative values at baseline, two reported improvement and two remained stable with a mean score of 2.3 at baseline and 0.8 at Month 12.

HGB-206: Group C Safety Results

As of August 20, 2020, the safety data from Group C patients in HGB-206 remain generally consistent with the known side effects of hematopoietic stem cell collection and myeloablative single-agent busulfan conditioning, as well as underlying SCD. One non-serious, Grade 2 adverse event (AE) of febrile neutropenia was considered related to LentiGlobin for SCD. There were no serious AEs related to LentiGlobin for SCD.

One patient with significant baseline SCD-related and cardiopulmonary disease died 20 months post-treatment; the treating physician and an independent monitoring committee agreed his death was unlikely related to LentiGlobin for SCD and that SCD-related cardiac and pulmonary disease contributed.

LentiGlobin for SCD Data at ASH

The presentation of HGB-206 Group C results and patient reported outcomes research are now available on demand on the ASH conference website:

About HGB-206

HGB-206 is an ongoing, Phase 1/2 open-label study designed to evaluate the efficacy and safety of LentiGlobin gene therapy for sickle cell disease (SCD) that includes three treatment cohorts: Groups A (n=7), B (n=2) and C (n=32). A refined manufacturing process designed to increase vector copy number (VCN) and further protocol refinements made to improve engraftment potential of gene-modified stem cells were used for Group C. Group C patients also received LentiGlobin for SCD made from HSCs collected from peripheral blood after mobilization with plerixafor, rather than via bone marrow harvest, which was used in Groups A and B of HGB-206.

About LentiGlobin for SCD (bb1111)

LentiGlobin gene therapy for sickle cell disease (bb1111) is an investigational treatment being studied as a potential treatment for SCD. bluebird bios clinical development program for LentiGlobin for SCD includes the completed Phase 1/2 HGB-205 study, the ongoing Phase 1/2 HGB-206 study, and the ongoing Phase 3 HGB-210 study.

The U.S. Food and Drug Administration granted orphan drug designation, fast track designation, regenerative medicine advanced therapy (RMAT) designation and rare pediatric disease designation for LentiGlobin for SCD.

LentiGlobin for SCD received orphan medicinal product designation from the European Commission for the treatment of SCD, and Priority Medicines (PRIME) eligibility by the European Medicines Agency (EMA) in September 2020.

bluebird bio is conducting a long-term safety and efficacy follow-up study (LTF-307) for people who have participated in bluebird bio-sponsored clinical studies of LentiGlobin for SCD. For more information visit: https://www.bluebirdbio.com/our-science/clinical-trials or clinicaltrials.gov and use identifier NCT04628585 for LTF-307.

LentiGlobin for SCD is investigational and has not been approved in any geography.

About bluebird bio, Inc.

bluebird bio is pioneering gene therapy with purpose. From our Cambridge, Mass., headquarters, were developing gene and cell therapies for severe genetic diseases and cancer, with the goal that people facing potentially fatal conditions with limited treatment options can live their lives fully. Beyond our labs, were working to positively disrupt the healthcare system to create access, transparency and education so that gene therapy can become available to all those who can benefit.

bluebird bio is a human company powered by human stories. Were putting our care and expertise to work across a spectrum of disorders: cerebral adrenoleukodystrophy, sickle cell disease, -thalassemia and multiple myeloma, using gene and cell therapy technologies including gene addition, and (megaTAL-enabled) gene editing.

bluebird bio has additional nests in Seattle, Wash.; Durham, N.C.; and Zug, Switzerland. For more information, visit bluebirdbio.com.

Follow bluebird bio on social media: @bluebirdbio, LinkedIn, Instagram and YouTube.

LentiGlobin and bluebird bio are trademarks of bluebird bio, Inc.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements are based on managements current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: regarding the potential for LentiGlobin for Sickle Cell Disease to treat SCD; the risk that the efficacy and safety results from our prior and ongoing clinical trials will not continue or be repeated in our ongoing or planned clinical trials; the risk that the current or planned clinical trials of our product candidates will be insufficient to support regulatory submissions or marketing approval in the United States and European Union; the risk that regulatory authorities will require additional information regarding our product candidates, resulting in delay to our anticipated timelines for regulatory submissions, including our applications for marketing approval; and the risk that any one or more of our product candidates, will not be successfully developed, approved or commercialized. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled Risk Factors in our most recent Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and bluebird bio undertakes no duty to update this information unless required by law.

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Treatment with Investigational LentiGlobin Gene Therapy for Sickle Cell Disease (bb1111) Results in Complete Elimination of SCD-Related Severe...

DUBLIN--(BUSINESS WIRE)--The "Gene Therapy Global Market Insights 2020, Analysis and Forecast to 2025, by Manufacturers, Regions, Technology, Product Type" report has been added to ResearchAndMarkets.com's offering.

This report describes the global market size of Gene Therapy from 2015 to 2019 and its CAGR from 2015 to 2019, and also forecasts its market size to the end of 2025 and its CAGR from 2020 to 2025. For the geography segment, regional supply, demand, major players, price is presented from 2015 to 2025.

The key countries for each region are also included such as the United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.

For the competitor segment, the report includes global key players of Gene Therapy as well as some small players.

The information for each competitor includes:

Types Segment:

Companies Covered:

Key Topics Covered:

Chapter 1 Executive Summary

Chapter 2 Abbreviation and Acronyms

Chapter 3 Preface

3.1 Research Scope

3.2 Research Sources

3.2.1 Data Sources

3.2.2 Assumptions

3.3 Research Method

Chapter 4 Market Landscape

4.1 Market Overview

4.2 Classification/Types

4.3 Application/End-users

Chapter 5 Market Trend Analysis

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Threats

Chapter 6 Industry Chain Analysis

6.1 Upstream/Suppliers Analysis

6.2 Gene Therapy Analysis

6.2.1 Technology Analysis

6.2.2 Cost Analysis

6.2.3 Market Channel Analysis

6.3 Downstream Buyers/End-users

Chapter 7 Latest Market Dynamics

7.1 Latest News

7.2 Merger and Acquisition

7.3 Planned/Future Project

7.4 Policy Dynamics

Chapter 8 Trading Analysis

8.1 Export of Gene Therapy by Region

8.2 Import of Gene Therapy by Region

8.3 Balance of Trade

Chapter 9 Historical and Forecast Gene Therapy Market in North America (2015-2025)

9.1 Gene Therapy Market Size

9.2 Gene Therapy Demand by End Use

9.3 Competition by Players/Suppliers

9.4 Type Segmentation and Price

9.5 Key Countries Analysis

9.5.1 US

9.5.2 Canada

9.5.3 Mexico

Chapter 10 Historical and Forecast Gene Therapy Market in South America (2015-2025)

10.1 Gene Therapy Market Size

10.2 Gene Therapy Demand by End Use

10.3 Competition by Players/Suppliers

10.4 Type Segmentation and Price

10.5 Key Countries Analysis

10.5.1 Brazil

10.5.2 Argentina

10.5.3 Chile

10.5.4 Peru

Chapter 11 Historical and Forecast Gene Therapy Market in Asia & Pacific (2015-2025)

11.1 Gene Therapy Market Size

11.2 Gene Therapy Demand by End Use

11.3 Competition by Players/Suppliers

11.4 Type Segmentation and Price

11.5 Key Countries Analysis

11.5.1 China

11.5.2 India

11.5.3 Japan

11.5.4 South Korea

11.5.5 Asean

11.5.6 Australia

Chapter 12 Historical and Forecast Gene Therapy Market in Europe (2015-2025)

12.1 Gene Therapy Market Size

12.2 Gene Therapy Demand by End Use

12.3 Competition by Players/Suppliers

12.4 Type Segmentation and Price

12.5 Key Countries Analysis

12.5.1 Germany

12.5.2 France

12.5.3 UK

12.5.4 Italy

12.5.5 Spain

12.5.6 Belgium

12.5.7 Netherlands

12.5.8 Austria

12.5.9 Poland

12.5.10 Russia

Chapter 13 Historical and Forecast Gene Therapy Market in MEA (2015-2025)

13.1 Gene Therapy Market Size

13.2 Gene Therapy Demand by End Use

13.3 Competition by Players/Suppliers

13.4 Type Segmentation and Price

13.5 Key Countries Analysis

13.5.1 Egypt

13.5.2 Israel

13.5.3 South Africa

13.5.4 Gcc

13.5.5 Turkey

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Gene Therapy Global Market Insights, Analysis and Forecasts, 2015-2019 & 2020-2025 - Lentivirus, Non-viral Plasmid Vector, AAV, Retrovirus &...

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The global viral vectors and plasmid DNA manufacturing market was valued at $319.01 million in 2019 and is expected to reach over $1.3 billion by 2027, according to a report from Precedence Research, which points out that viral vectors have become ideal for gene transfer due to their efficient gene delivery, high transfection efficiency, and stable gene expression. Further, an upsurge in the registration of clinical trials on viral vectormediated gene therapy is stimulating demand for viral vectors in gene transfer.

The growing pervasiveness of target disorders and diseases, the accessibility of funding for gene therapy development, current research into viral vectorbased cell and gene therapies, and efficacy of viral vectors in gene therapy delivery are together supporting the marketgrowth, notes the Precedence Research study.

The adeno associated virus (AAV) vector is the platform of choice for delivering gene therapeutics. But, as Nice Insight reports, the biggest challenges facing gene therapy lie in the areas of process development, manufacturing, and analytical technologies.

To address these issues we put together this special supplement entitled Navigating the Complexities of AAV Scale-Up and Manufacturing. Inside you will find ideas and advice on choosing the right starting material, ensuring the right scalable platform technology for maximizing titer, optimizing the AAV downstream purification process, and carrying out approved product process, characterization and QC testing for lot release. Leading gene therapy scientists in academia and experts in industry have been interviewed for critical insights on these topics. They will also give their thoughts on the future of the gene therapy industry, its trajectory over the next 5 to 10 years and the technologies that will accelerate further development of this field.

Sponsored by:

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Navigating the Complexities of AAV Scale-Up and Manufacturing - Genetic Engineering & Biotechnology News

Dublin, Dec. 08, 2020 (GLOBE NEWSWIRE) -- The "Gene Therapy Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.

Gene Therapy Global Market Report 2020-30: COVID-19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global gene therapy market market.

Major players in the gene therapy market are Novartis AG, Bluebird Bio, Inc., Spark Therapeutics, Inc., Audentes Therapeutics, Voyager Therapeutics, Applied Genetic Technologies Corporation, UniQure N.V., Celgene Corporation, Cellectis S.A. and Sangamo Therapeutics.

The global gene therapy market is expected to decline from $3.22 billion in 2019 to $3.18 billion in 2020 at a compound annual growth rate (CAGR) of -1.30%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The market is then expected to recover and reach $6.84 billion in 2023 at a CAGR of 29.09%.

The gene therapy market consists of sales of gene therapy related services by entities (organizations, sole traders and partnerships) that manufacture gene therapy drugs. Gene therapy is used to replace faulty genes or add new genes to cure disease or improve the body's ability to fight disease. Only goods and services traded between entities or sold to end consumers are included.

North America was the largest region in the gene therapy market in 2019.

The gene therapy market covered in this report is segmented by gene type into antigen; cytokine; suicide gene; others. It is also segmented by vector into viral vector; non-viral vector; others, by application into oncological disorders; rare diseases; cardiovascular diseases; neurological disorders; infectious diseases; others, and by end users into hospitals; homecare; specialty clinics; others.

In December 2019, Roche, a Switzerland-based company, completed its acquisition of Spark Therapeutics for $4.3 billion. With this deal, Roche is expected to strengthen its presence in the gene therapy segment, support transformational therapies and increase its product portfolio. Spark Therapeutics is a US-based company involved in gene therapy.

The high prices of gene therapy medicines are expected to limit the growth of the gene therapy market. The pressure to contain costs and demonstrate value is widespread. Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding. In less wealthy countries, the lack of cost-effective therapies for cancer and other diseases has influenced the health conditions of the population and has led to a low average life expectancy.

Luxturna, a one-time treatment for acquired retinal eye disease, costs $850,000 in the US and 613,410 in the UK, despite a markdown that is applied through Britain's National Health Service. Zolgensma, for spinal muscular atrophy, is valued at $2.1 million in the US and Zynteglo, which focuses on a rare genetic blood disorder, costs $1.78 million, thus restraining the growth of the market.

The use of machine learning and artificial intelligence is gradually gaining popularity in the gene therapy market. Artificial intelligence (AI) is the simulation of human intelligence in machines, which are programmed to display their natural intelligence. Machine learning is a part of AI.

Machine learning and AI help companies in the gene therapy market to conduct a detailed analysis of all relevant data, provide insights between tumor and immune cell interactions, and offer a more accurate evaluation of tissue samples often conflicted between different evaluators. For instance, since January 2020, GlaxoSmithKline, a pharmaceutical company, has been investing in AI to optimize gene therapy and develop off-the-shelf solutions for patients. It is also expected to reduce turnaround time and also the cost of gene therapies.

Key Topics Covered:

1. Executive Summary

2. Gene Therapy Market Characteristics

3. Gene Therapy Market Size And Growth 3.1. Global Gene Therapy Historic Market, 2015 - 2019, $ Billion 3.1.1. Drivers Of The Market 3.1.2. Restraints On The Market 3.2. Global Gene Therapy Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion 3.2.1. Drivers Of The Market 3.2.2. Restraints On the Market

4. Gene Therapy Market Segmentation 4.1. Global Gene Therapy Market, Segmentation By Gene Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

4.2. Global Gene Therapy Market, Segmentation By Vector, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

4.3. Global Gene Therapy Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

4.4. Global Gene Therapy Market, Segmentation By End Users, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

5. Gene Therapy Market Regional And Country Analysis 5.1. Global Gene Therapy Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion 5.2. Global Gene Therapy Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/y5rj2q

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Global Gene Therapy Market Report 2020: Market is Expected to Recover and Reach $6.84 Billion in 2023 - Forecast to 2030 - GlobeNewswire

Older, male patients with more severe underlying conditions and a greater risk of death tended to be more accepting of new approaches such as stem cell research

A new review of research bringing together patient, carer and public views of cell and gene therapies has highlighted a need for appropriate education to better inform people including how clinical trials work and the risks and benefits of various treatments.

Over the last decade, new cell, gene and tissue-engineered therapies have been developed to treat various cancers, inherited diseases and some chronic conditions. They offer opportunities for the treatment of disease and injury, to restore function, and in some cases offer cures. In response the NHS Advanced Therapies Treatment Centres (ATTCs) were set up to bring together the health service, academia and industry to address the unique and complex challenges of bringing these therapies to patients.

Led by experts from the Centre for Patient Reported Outcome Research (CPROR) at the University of Birmingham and the Midlands and Wales ATTC (MW-ATTC), the review, funded by a MW-ATTC grant from UK Research and Innovation is the first of its kind and the first to consider both patient and public opinions of cell and gene therapies. Examining 35 studies, the majority of which were published between 2015 and 2020, analysis showed that a lack of understanding of the aims of clinical trials and overestimation of the potential benefits of cell and gene therapy were common among both patients and the general public. Patients were generally of the opinion that more information about participating in clinical trials is vital to enable them to make informed assessment of potential risks and benefits.

Older, male patients with more severe underlying conditions and a greater risk of death tended to be more accepting of new approaches such as stem cell research and generally, while views of therapies varied among patients, the provision of adequate information increased acceptance.

Interestingly the review also found that patients considered their clinicians to be the most trustworthy source of information which would suggest that patients would approach and discuss these treatments with their physicians. However, researchers found that this might not always be the case due to a number of reasons including the perception that clinicians do not always approve of cell and gene therapies and may try to discourage them from pursuing treatment and may not have enough knowledge of the field to provide adequate advice.

Lead author Dr Olalekan Lee Aiyegbusi, Co-Deputy Director of the Centre for Patient Reported Outcomes Research (CPROR) said: The findings from this research are intended to inform the patient engagement work of the ATTCs. We hope that by highlighting various issues, efforts will be made to correct misconceptions, and improve the awareness of patients and the public about the potential benefits and risks associated with cell and gene therapies.

It is important that the public and patients are aware of these therapies, understand the issues involved, and can contribute to the ongoing debates. A high level of awareness will also enhance patients ability to make informed decisions about participating in clinical trials and routine administration of cell and gene therapies.

The full paper Patient and public perspectives on cell and gene therapies: a systematic review was published today (Tuesday 8 December 2020) in Nature Communications.

ENDS

For more information please contact Sophie Belcher, Communications Manager, University of Birmingham, on +44 7815607157. Alternatively, contact the Press Office out of hours on +44 (0)7789 921165.

DOI: 10.1038/s41467-020-20096-1.Full paper: http://www.nature.com/ncomms

The University of Birmingham is ranked amongst the worlds top 100 institutions, and its work brings people from across the world to Birmingham, including researchers and teachers and more than 6,500 international students from nearly 150 countries.

About the Midlands and Wales ATTC (MW-ATTC)

The 9M Midlands and Wales Advanced Therapy Treatment Centre (MW-ATTC) is one of three national Innovate UK funded centres whose goal is to accelerate the delivery of advanced therapies.

It is a regional network spanning the Midlands & Wales comprising a large consortium of industry, healthcare and university partners with expertise in advanced therapy manufacturing including academic and commercial partners, logistics companies, specialists in clinical trial delivery and teams focussed on IT logistics solutions and health economics.

The aim of the MW-ATTC is to enable UK advanced therapy companies to reach the clinical market, whilst simultaneously building clinical capacity regionally to deliver these breakthrough therapies to patients.

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Better education needed to give patients improved understanding of gene therapies, new review highlights - University of Birmingham

RESEARCH TRIANGLE PARK, N.C., Dec. 11, 2020 (GLOBE NEWSWIRE) -- Asklepios BioPharmaceutical, Inc. (AskBio), a leading, clinical-stage adeno-associated virus (AAV) gene therapy company, today announced that its President and Chief Scientific Officer, Jude Samulski, PhD, has been honored as Triangle Business Journals (TBJ) 2020 Business Person of the Year.

My passion to help people is reflected in the work we do every day to bring much-needed treatments to patients and their families who are affected by genetic disorders, and I am grateful to my co-founder, Sheila Mikhail, and the AskBio and Viralgen employees who work alongside me, said Samulski. Im humbled by this recognition and hope that, in this particularly challenging time, my work inspires others in the healthcare space to expand their efforts to improve the lives of patients.

TBJs Business Person of the Year award recognizes executives working in the Triangle area who have consistently driven business success while also demonstrating the power of corporate citizenry. The winner is selected based on their accomplishments over the past year and how this has translated into a broader good for the community, as well as charitable and nonprofit work. Samulski played a key role in Bayers 2020 acquisition of AskBio for up to $4 billion, a deal that includes the companys AAV-based technology and gene therapy pipeline aimed at accelerating the development of treatments for patients in areas of medical need. He is also the Chairman and Chief Science Officer at Columbus Childrens Foundation, a nonprofit he co-founded to ensure equitable and affordable access to gene therapy solutions for children with ultra-rare genetic diseases.

This was a particularly tough year for the Triangle Business Journal editorial team because there were so many deserving candidates, said Sougata Mukherjee, Editor-in-Chief of the Triangle Business Journal. We are thrilled to have selected Jude Samulski as our 2020 TBJ Business Person of the Year after an arduous selection process that lasted almost two months.

This is the third accolade in 2020 for Samulski, who was honored as one of TBJs 2020 Life Sciences Award winners and was named one of PharmaVOICE Magazines Most Inspiring Leaders in Life Sciences. Nearly four decades ago, he was the first to successfully clone AAV for use as a vector to deliver therapeutic payloads as potentially curative treatments for genetic disorders. Since co-founding AskBio in 2001, Samulski has maintained an unwavering commitment to patients by creating and leading teams dedicated to challenging the status quo by pursuing new solutions.

TBJ is the leading provider of local business news for the Raleigh-Durham-Chapel Hill area of North Carolina. The Triangle is the fifth fastest-growing life sciences market in the nation. There are currently nearly 600 life science companies in the area, with a collective local workforce of about 60,000, according to data from the North Carolina Biotechnology Center.

About AskBioFounded in 2001, Asklepios BioPharmaceutical, Inc. (AskBio), a wholly owned and independently operated subsidiary of Bayer AG,is a fully integrated AAV gene therapy company dedicated to developing life-saving medicines that cure genetic diseases. The company maintains a portfolio of clinical programs across a range of neuromuscular, central nervous system, cardiovascular and metabolic disease indications with a clinical-stage pipeline that includes therapeutics for Pompe disease, Parkinsons disease and congestive heart failure, as well as out-licensed clinical indications for hemophilia and Duchenne muscular dystrophy. AskBios gene therapy platform includes Pro10, an industry-leading proprietary cell line manufacturing process, and an extensive AAV capsid and promoter library. With global headquarters in Research Triangle Park, North Carolina, and European headquarters in Edinburgh, UK, the company has generated hundreds of proprietary third-generation AAV capsids and promoters, several of which have entered clinical testing. An early innovator in the space, the company holds more than 500 patents in areas such as AAV production and chimeric and self-complementary capsids. Learn more atwww.askbio.comor follow us onLinkedIn.

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AskBio CSO Jude Samulski Named 2020 Business Person of the Year by Triangle Business Journal - GlobeNewswire

NEW YORK, Dec. 11, 2020 (GLOBE NEWSWIRE) -- Prevail Therapeutics Inc. (Nasdaq: PRVL), a biotechnology company developing potentially disease-modifying AAV-based gene therapies for patients with neurodegenerative diseases, today announced that the first patient has been dosed in the Phase 1/2 PROCLAIM clinical trial evaluating PR006, an investigational AAV9 gene therapy delivering the GRN gene, for the treatment of frontotemporal dementia patients with GRN mutations (FTD-GRN).

Dosing the first patient in our PROCLAIM clinical trial marks an important milestone in our efforts to advance a potentially disease-modifying treatment for patients with frontotemporal dementia with GRN mutations, said Asa Abeliovich, M.D., Ph.D., Founder and Chief Executive Officer of Prevail. We are excited to progress clinical development of PR006 and to bring forward a much-needed therapy for this rapidly progressing neurodegenerative disease.

The PROCLAIM trial is a Phase 1/2 open-label trial investigating the safety and tolerability of PR006 as well as key biomarkers and exploratory efficacy endpoints. The Company expects to enroll up to 15 patients, and it currently anticipates it will provide a biomarker and safety analysis on a subset of patients enrolled in the PROCLAIM trial in 2021.

Frontotemporal dementia is a devastating condition, with no disease-modifying therapeutic options available, said Dr. JonathanRohrer, principal research fellow at theUniversity College London Queen Square Institute of Neurology.PROCLAIM is an important clinical study which could further increase our understanding of frontotemporal dementia due tomutations in the progranulin gene, and help demonstrate the potential of gene therapy to correct the underlying genetic cause of this condition, potentially slowing or stopping disease progression.

PR006 has been granted Orphan Drug designation for the treatment of FTD and Fast Track designation for the treatment of FTD-GRN by the U.S. Food and Drug Administration, as well as orphan designation for the treatment of FTD by the European Commission.

About Frontotemporal Dementia withGRNMutationsFrontotemporal dementia (FTD) is the second most common cause of dementia in people under the age of 65, after Alzheimers disease. FTD affects 50,000 to 60,000 people in the U.S. and 80,000 to 110,000 individuals in the European Union. FTD-GRN represents 5-10% of all patients with FTD. FTD results from the progressive degeneration of the frontal and temporal lobes of the brain, which control decision-making, behavior, emotion and language. In FTD-GRN patients, reduced levels of progranulin lead to age-dependent lysosomal dysfunction, neuroinflammation and neurodegeneration. There are no approved treatments for FTD or FTD-GRN.

About Prevail TherapeuticsPrevail is a gene therapy company leveraging breakthroughs in human genetics with the goal of developing and commercializing disease-modifying AAV-based gene therapies for patients with neurodegenerative diseases. The Company is developing PR001 for patients with Parkinsons disease with GBA1mutations (PD-GBA) and neuronopathic Gaucher disease (nGD); PR006 for patients with frontotemporal dementia withGRNmutations (FTD-GRN); and PR004 for patients with certain synucleinopathies.

Prevail was founded by Dr.Asa Abeliovichin 2017, through a collaborative effort withThe Silverstein Foundationfor Parkinsons with GBA and OrbiMed, and is headquartered inNewYork, NY.

Forward-Looking Statements Related to PrevailStatements contained in this press release regarding matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Examples of these forward-looking statements include statements concerning the potential for PR006 to be a disease-modifying gene therapy to patients with FTD-GRN; the potential benefits of Fast Track and Orphan Drug designation by the FDA and orphan designation by theFDA and the European Commission; the anticipated timing of enrollment and of reporting of interim data on a subset of patients from the PROCLAIM trial; and the potential for the PROCLAIM trial to increase understanding of frontotemporal dementia and help demonstrate the potential of gene therapy to correct the underlying genetic cause of this condition, potentially slowing or stopping disease progression. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: Prevails novel approach to gene therapy makes it difficult to predict the time, cost and potential success of product candidate development or regulatory approval; Prevails gene therapy programs may not meet safety and efficacy levels needed to support ongoing clinical development or regulatory approval; the regulatory landscape for gene therapy is rigorous, complex, uncertain and subject to change; the fact that gene therapies are novel, complex and difficult to manufacture; and risks relating to the impact on our business of the COVID-19 pandemic or similar public health crises. These and other risks are described more fully in Prevails filings with theSecurities and Exchange Commission(SEC), including the Risk Factors sections of the Companys most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with theSEC, and its other documents subsequently filed with or furnished to theSEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, Prevail undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Media Contact:Lisa QuTen Bridge Communications LQu@tenbridgecommunications.com678-662-9166

Investor Contact:investors@prevailtherapeutics.com

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Prevail Therapeutics Announces First Patient Dosed in Phase 1/2 PROCLAIM Clinical Trial Evaluating PR006 for the Treatment of Frontotemporal Dementia...

Global biotech company Orgenesis, Inc has signed a joint venture agreement with Cure Therapeutics, Inc to advance the development, regulatory and governmental approval, and commercialization of point of care production for both organisations cell and gene therapies and immunotherapies.

Orgenesis Inc currently works to unlock the full potential of celland gene therapies (CGTs), and Cure Therapeutics, Inc develop immuno-oncology and cell and gene therapies to target cancer and infectious diseases.

Under the Agreement, the parties will collaborate in developing and commercialising Cure Therapeutics pipeline on a global basis, as well as developing, commercializing and supplying Orgenesis therapeutic pipeline in South Korea and Japan. In connection with the Agreement, each of Cure Therapeutics and Orgenesis will contribute at least USD 10 million to the joint venture to cover operating costs, USD 5 million of which may be provided in the form of in-kind contribution.

The first focus of the partnership will be aligning the efforts of both companies to advanceproprietaryOrgenesis CAR-T, TILS and DUVAC therapiesinto clinical trials in South Korea and Japan. Process development and validation will be completed by leveraging the POCare Technologies from the Orgenesis platform to achieve automated manufacturing at the point of care.

Vered Caplan, CEO of Orgenesis said: This collaboration between Orgenesis and Cure Therapeutics further expands our cell and gene therapy pipeline and provides a clear illustration of the international scope of ourPOCare Platform. We selected Cure Therapeutics as our partner in South Korea and Japan given their expertise in the region, and robust immunotherapy pipeline. Additionally, this Agreement supports Orgenesis continued efforts to complement the Orgenesis pipeline and distribution efforts in the United States, Europe and globally.

David Kim, CEO of Cure Therapeutics said: The joint venture and partnership with Orgenesis will provide a significant international route to market for our immunotherapies targeting cancers and infectious diseases. Cure Therapeutics will leverage the Orgenesis POCare Network of leading international healthcare institutions to accelerate the international development and market approvals for our portfolio. In parallel, we will leverage our established network to help develop and rapidly advance the Orgenesis cell and gene therapy portfolio in South Korea and Japan.

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Joint venture agreement to unlock potential of cell and gene therapies and immunotherapies - Pharmafield

Using an experimental gene therapy, Harvard scientists have successfully restored vision to mice suffering glaucoma by effectively rewinding the aging process in their cells. While still in the early stages, the team says the research is a proof of concept for slowing the symptoms of aging with epigenetics.

To turn back the clock, the researchers delivered three key genes into the retinas of several groups of mice with different eye problems. In mice with optic nerve injuries, the treatment helped the nerves regenerate. The therapy also helped reverse vision loss in mice with a condition similar to glaucoma, as well as those with more general age-related impairment.

Our study demonstrates that its possible to safely reverse the age of complex tissues such as the retina and restore its youthful biological function, says David Sinclair, senior author of the study. If affirmed through further studies, these findings could be transformative for the care of age-related vision diseases like glaucoma and to the fields of biology and medical therapeutics for disease at large.

The team's research involves targeting the epigenome. The contents of our DNA isnt the only way information is passed down through generations the field of epigenetics explores how the expression of genes is turned on and off. One of the main epigenetic changes is DNA methylation, where patterns of molecules tag genes to control how theyre expressed without changing the underlying DNA sequence.

Yuancheng Lu

These methylation patterns are laid down during embryonic development, essentially helping different cell types only read the DNA sequences that are relevant to them. DNA methylation patterns are thought to become somewhat scrambled as we age, which changes gene expression and, in turn, impairs the function of cells. Ultimately, that results in the symptoms of aging that we all know too well.

So, the researchers on the new study set out to investigate whether restoring these patterns to a more youthful state could reverse damage to cells. They loaded three specific genes into a viral vehicle and introduced the package to the retinas of mice.

The genes in question Oct4, Sox2 and Klf4 are three of the four Yamanaka factors, a group of genes that are used to turn cells into induced pluriopotent stem cells, ready to become whatever cells are needed.

By only using three of the factors, the team didnt rewind the clock right back to the stem cell stage just far enough to return the cells to a healthier, more youthful state. Plus, it prevents the method from inducing tumor growth, which is a known pitfall.

And the treatment had promising results in the animal tests. In the mice with optic nerve damage, the treatment doubled the number of surviving retinal ganglion cells, and regrew the nerves five times better than the control.

Yuancheng Lu

In those with glaucoma or age-related vision loss, gene expression patterns and electrical signals in optic nerve cells increased to levels normally seen in young, healthy mice. The animals also performed better in visual acuity tests.

Regaining visual function after the injury occurred has rarely been demonstrated by scientists, says Meredith Gregory-Ksander, an author of the study. This new approach, which successfully reverses multiple causes of vision loss in mice without the need for a retinal transplant, represents a new treatment modality in regenerative medicine.

The team says that if the findings can be validated in further animal studies, human clinical trials could begin in glaucoma patients within two years.

The research was published in the journal Nature.

Source: Harvard Medical School

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Anti-aging gene therapy restores vision to mice with glaucoma - New Atlas

In dogs, unlike humans, osteoarthritis actually tends to start at a young age. In cats, osteoarthritis is exceedingly common. Yet, the disease often goes undiagnosed and untreated in pets.

A diagnosis of osteoarthritis in a pet can be unwelcome to the veterinarian as well as the pet owner because the disease is painful and progressive, but experts say earlier diagnosis and treatment are pivotal to managing both the pain and the progression of the disease.

At the AVMA Virtual Convention 2020 in August, professors from two veterinary colleges gave talks about treating canine osteoarthritis effectivelyincluding by using a new staging tooland integrating new types of treatments for pets with osteoarthritis. At the American Association of Feline Practitioners virtual conference in October 2020, the owner of a feline-only practice discussed how to manage feline osteoarthritis cases.

Dr. B. Duncan X. Lascelles, professor of surgery and pain management at North Carolina State University College of Veterinary Medicine, spoke at the AVMA Virtual Convention 2020 on When and How, Treating Canine OA Effectively.

In humans, Dr. Lascelles said, osteoarthritis is an older persons disease. People erroneously superimpose that fact on dogs, but osteoarthritis in dogs mostly results from developmental problems. He said, Osteoarthritis is a young dogs disease.

Then, when does osteoarthritis pain actually start in dogs? Dr. Lascelles said pain starts in younger dogs, but they adapt their posture to continue daily living activities. The pain has deleterious effects such as musculoskeletal deterioration, central sensitization, and cognitive and affective decline. All of these result in increased resistance to treatment.

We dont want to make a diagnosis of OA in young dogs. We see OA as an incurable lifelong disease, and we dont want to have what we think is a depressing conversation about this with owners of younger dogs, Dr. Lascelles said. Actually, I think that we should have that conversation with owners but turn it around and make it more optimistic. Im glad we made this diagnosis because now we have the opportunity to improve your dogs future.

Dr. Lascelles was part of the group that developed the new Canine OsteoArthritis Staging Tool. COAST is available from Elanco at jav.ma/coast or by calling 888-545-5973.

The first step of COAST is to grade the dog through owner assessments, via a clinical metrology instrument and owner observation of the dogs discomfort, and through a veterinarians evaluation of the dogs static posture and motion. The second step of COAST is for the veterinarian to grade the problematic joint on the basis of severity of signs of pain during manipulation, passive range of movement, and radiographic appearance.

The last step of COAST is to assign a numerical stage ranging from 0-4. Stage 0 is clinically normal with no risk factors for osteoarthritis, stage 1 is clinically normal with risk factors for osteoarthritis, stage 2 is mild osteoarthritis, stage 3 is moderate osteoarthritis, and stage 4 is severe osteoarthritis.

Dr. Lascelles said the four pillars of treatment for osteoarthritis in dogs are an effective analgesic such as a nonsteroidal anti-inflammatory drug, weight optimization, diet optimization, and exercise. The treatments are interdependent. An effective analgesic decreases pain, which allows for an increase in exercise. Exercise contributes to weight management, and exercise and weight management together decrease pain. Finally, a decrease in pain allows for a decrease in the analgesic requirement.

Dr. Lascelles shared his basic six-month approach to all patients with osteoarthritis pain. For three months, he prescribes an analgesic, a gradual increase in exercise, omega-3 fatty acids in a supplement or special diet, and reduction of food by a third with the addition of green beans, broccoli, or carrots. For the next three months, he reduces the dose or frequency of the analgesic, maintains exercise and diet, and further optimizes or maintains weight.

Dr. Bryan T. Torres, an assistant professor of small animal orthopedic surgery at the University of Missouri College of Veterinary Medicine, spoke at the AVMA Virtual Convention 2020 on Osteoarthritis Management: Integrating New & Emerging Therapies Into Your Current Treatment Plans, during the New Therapeutic Approaches to Chronic Care Symposium.

Dr. Torres considers the fundamentals of osteoarthritis management to be weight management, exercise modification, dietary management, drugs, and surgery. He said surgical options are always available but should be most strongly considered when medical management alone has reached its limits.

One of the emerging areas of osteoarthritis management is monoclonal antibodybased agents that are being developedbut that are not yet commercially availableto target cellular components that affect osteoarthritis pain and inflammation, such as cytokines, chemokines, and neurotrophins. Studies have found that monoclonal antibodies targeting nerve growth factor, a neurotrophic factor, reduce pain in humans, dogs, and cats with osteoarthritis.

Intra-articular treatments historically have included corticosteroids and hyaluronic acid, but other intra-articular treatments currently available include platelet-rich plasma and stem cells. There is some evidence that the latter two can be effective in animals with osteoarthritis, but most studies are of small populations with variability in treatments, joints affected, and disease severity.

Another currently available intra-articular treatment is radiosynovectomy, or the use of radioactive agents to reduce inflammation and chondromalacia in patients with osteoarthritis. Unfortunately, Dr. Torres said, there are no peer-reviewed studies available yet.

Cannabinoids also have potential for treating osteoarthritis in animals. Receptors for cannabinoids are present throughout joints, and the human literature has data supporting use of cannabinoids for pain. The evidence to support the efficacy of cannibidiol is currently limited but growing in veterinary medicine.

Integrating new therapies can be challenging, Dr. Torres said. Just dealing with patients with this common condition can seem challenging. It can seem overwhelming because we have so many options out there, but thats good, as long as we have a grasp of what to do and how to do it.

And I think the keys to remember are that in most cases, were going to start with these foundational therapies, right? Weight management, exercise modification, dietary management, drug therapy, surgical therapy. These are going to work in most of the animals, and this is the way to start.

Dr. Elizabeth Colleran, owner of Chico Hospital for Cats in Chico, California, spoke at the 2020 AAFP virtual conference about Pouncing on Pain: Managing Feline Osteoarthritis Cases.

Dr. Colleran described cats as solitary hunters that have limited social communication and are deliberately inscrutable. They manifest pain through reductions in play, grooming, socializing, and appetite and increases in hiding and sleeping. Dr. Colleran cited a study led by Dr. Lascelles that found 91% of cats between 6 months old and 20 years old have radiographic evidence of osteoarthritis in at least one joint.

To evaluate pain in cats with osteoarthritis, Dr. Colleran uses the Feline Musculoskeletal Pain Index out of North Carolina State University. She said the FMPI is an evaluation of common behaviors and activities that take place in the household and that dont really take place in the examination room. Cat owners also can use a smartphone to record cats at home in slow motion to allow a veterinarian to evaluate gait, play, and jumping.

When cat owners are resistant to the idea of osteoarthritis pain in their cat, Dr. Colleran often will put the cat on an anti-inflammatory medication such as robenacoxib or meloxicam or an analgesic such as buprenorphine and ask the owners to report back in a few days.

Recently, Dr. Colleran could tell that a cat had osteoarthritis just by touching his back, but she couldnt convince the owner. So she put the cat on robenacoxib for three days, and the owner called back to say he hadnt seen what was happening. She said, He was so aghast at the fact that he had missed really significant osteoarthritis pain and was convinced not by my explanation in the exam room but by the experience he had of the change in behavior at home.

Dr. Colleran said the components of a treatment plan for osteoarthritis in cats can include weight loss, pharmaceuticals, environmental enrichment or modification, and a special diet or omega-3 supplements.

Usually, when we have some acute pain, well start with opioids, add in some NSAIDs, and then start thinking about ways in which we can change the experience that the cat is having and improve quality of life, Dr. Colleran said. But in all of these, you need to prioritize the ones that are working for this cat and this client at this time.

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Getting ahead of osteoarthritis in pets - American Veterinary Medical Association

Event

Virtual meeting, Oct. 15, 2020

AAFSPHV Veterinarian of the YearThis award, given each year in recognition of a veterinarians outstanding accomplishments in the fields of veterinary food safety and public health, was dedicated to veterinarians across the globe in recognition of their extraordinary work to protect and preserve public health before, during, and after the COVID-19 pandemic. During the pandemic, veterinarians are playing a vital role in numerous ways, such as conducting collaborative research to better understand SARS-CoV-2 and developing potential mitigation tools; supporting the diagnostic capacity of human health services by performing high-throughput testing of human COVID-19 samples; donating personal protective equipment and ventilators; developing effective public health interventions and assisting with the tracking and surveillance of human and animal disease; continuing to ensure the safety of our food supply while working to identify solutions and respond to the impacts the pandemic has had on our food production systems; and offering essential care to both companion and food animals while implementing appropriate precautions to protect the health of patients, clients, and veterinary staff members.

The AAFSPHV provided members with an update on the organizations history, membership, continuing education plans, student outreach program, strategic planning, and a new collaborative partnership with the National Association of Federal Veterinarians, United States Animal Health Association, and American College of Veterinary Preventive Medicine.

Drs. Donna DeBonis, Oak Harbor, Washington, president; Angela Demaree, Indianapolis, president-elect; Catherine Alexander, Fort Collins, Colorado, recording secretary; Kelly Vest, Blackwell, Oklahoma, treasurer; Jennifer Koeman, Seattle, immediate past president; Katherine Waters, Denver, executive vice president and AVMA alternate delegate; Kristen Obbink, Ames, Iowa, AVMA delegate; and directorsDrs. Roger Murphy, Raleigh, North Carolina; Van H. Brass II, Phoenix; Renee Funk, Atlanta; Mike Gilsdorf, Sykesville, Maryland; Kristen Obbink, Ames, Iowa; and Pamela Abney, Millsboro, Delaware

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American Association of Food Safety and Public Health Veterinarians - American Veterinary Medical Association

Friday, December 11, 2020

A new approach to cancer immunotherapy has the potential to be a universal treatment for solid tumors, according to researchers at Purdue University, including a Distinguished Professor in Purdue Veterinary Medicines Department of Comparative Pathobiology. The research was led by Dr. Philip Low, Purdues Presidential Scholar for Drug Discovery and Ralph C. Corley Distinguished Professor of Chemistry, and Dr. Timothy Ratliff, Distinguished Professor of Comparative Pathobiology and the Robert Wallace Miller Director of the Purdue University Center for Cancer Research.

The two scientists collaborated to develop and test the new treatment that works not by attacking the cancer cells themselves, but by focusing on immune system cells that, ironically, feed the tumor and block other immune system cells from destroying it. The first details of the approach were published recently in the journal Cancer Research.

Dr. Low said the treatment is totally unique and has been shown to work in six different tumor types. So far, the treatment has been tested in human tumor cells in the laboratory and in human tumors in animal models. The approach targets immune cells that, in cancerous tumors, stop the bodys own defenses from killing the tumor.We can reprogram the immune cells within the tumor to help kill the tumor instead of allowing these cells to help the tumor grow, Dr. Low said.

In this technique, an anti-cancer drug that would normally be too toxic for human use is linked to folate, which is a type of vitamin B. Almost no normal cells have a receptor for the folate, so it passes on through the body, but certain cancer-associated immune cells do.

We use the vitamin folate to target attached drugs specifically to these nonmalignant cells within a tumor mass that, unfortunately, promote tumor growth. These tumor-associated macrophages love folate, Dr. Low said. They have an enormous appetite for it. They take it up right away, and if they dont, the compound passes in the urine within about 30 minutes. So, we re using folate as a kind of Trojan horse to trick the tumor-promoting immune cells into eating a drug that will reprogram them into tumor-fighting immune cells.

Dr. Ratliff explained that this treatment may prove to be more universally effective than current cancer immunotherapies. There are therapeutic antibodies that are used on some types of cancer. And many people have heard of checkpoint immunotherapies, which block certain parts of the immune response, Dr. Ratliff said. When I talk to groups, I always point out that former President Jimmy Carter had metastatic brain cancer, and he went through immunotherapy, and it eliminated the cancer for him.

But the problem is, Dr. Ratliff continued, that only about 20 percent of the patients actually respond. So, we need to take a different approach to modulating the immune response. Dr. Ratliff said the folate-targeted approach is exciting because it is the first research project that has found a way to target the cells that boost tumor growth in the tumor environment.

These are cells that are important to the tumors, but they arent the tumor cells themselves, Dr. Ratliff said. By targeting these myeloid cells within the tumor, we have a universal process because these cells are present in all of the solid tumors.

Dr. Low said the new immunotherapy treatment could be available to patients within a decade.On average, this usually takes ten years, but we have a small team and were aggressive. So, I think theres a reasonable chance this could make it to the public within seven years or something like that, he said. It would probably cost a couple hundred million dollars, at the very least, to develop and test this drug.

So its not going to be cheap, and its not going to be easy. But this drug has enormous potential to save many lives. So, we will do our best.

Click here to view a complete news release about the research.

Writer(s): Steve Tally, Purdue News Service | pvmnews@purdue.edu

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New Cancer Immunotherapy Shows Promise in Early Research Co-led by CPB Distinguished Professor - Purdue Veterinary News

Databridgemarketresearch.com added a new study on Veterinary Medicine Market Research Review 2020 that has been just made available providing an extensive knowledge and perceptions of the industry. A credible Veterinary Medicine Market report has been prepared with the detailed market analysis that is performed by a team of industry experts, skilful analysts, dynamic forecasters and knowledgeable researchers. This report is the best source to accomplish unparalleled insights and acquaintance of the best market opportunities into the relevant markets. The market study of the large scale Veterinary Medicine Market report evaluates the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. Additionally, businesses can achieve great benefits with this information to come to a decision on their production and marketing strategies.

Veterinary Medicine Market research report enlists the chief competitors and presents the strategic insights and analysis of the key factors influencing the industry. This market report guesstimates the growth rate and the market value based on market dynamics and growth inducing factors. The major areas of this report comprises of market definition, market segmentation, competitive analysis and research methodology. Moreover, as it is important for the businesses to acquire knowhow of consumers demands, preferences, attitudes and their changing tastes about the specific product, this market report bestows with all of this. Veterinary Medicine Market report best suits the requirements of the client.

Veterinary medicine marketis expected to reach a market value of USD 45.6 billion by 2027 whilegrowat a potential rate of 7.15% in the forecast period of 2020 to 2027. Growing number of pet adoption will help in the growth of theveterinarymedicine market.

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Major players

The major players covered in the veterinary medicine market report are Merck & Co., Inc., Ceva, Vetoquinol S.A., Zoetis, BoehringerIngelheim International GmbH, Bayer AG, Elanco.,Nutreco N.V.,Virbac., Kindred Biosciences, Inc., BiogenesisBago, infocusrx., NEOGEN CORPORATION, Hester Biosciences Limited., Cargill, Incorporated., ADM Animal Nutrition,among other domestic and global players. Bone anchored hearing systems market share data is available for global, North America, South America, Europe, Asia-Pacific (APAC) and Middle East and Africa (MEA)separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Patient Epidemiology Analysis

Veterinary medicine market also provides you with detailed Customization Available: Global Veterinary Medicine Market

market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analysis of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.

Increasing prevalence of veterinary professionals, growing demand of pet insurance, increasing initiatives by the government as well as private regarding animal health, rising consumption of meat and mandatory vaccinations, growinglivestockpopulation as well as pet ownership rates will likely to enhance the growth of the veterinary medicine market in the forecast period of 2020-2027. On the other hand, increasing research and development for procedural advancement will further boost various opportunities that will lead to the growth of the veterinary medicine market in the above mentioned forecast period.

Rising number of counterfeit drugs, rising occurrences of various infections will likely to hinder the growth of the veterinary medicine market in the mentioned forecast period.

This veterinary medicine market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the veterinary medicine market scenario contactData Bridge Market Researchfor anAnalyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

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Global Veterinary Medicine Market Scope and Market Size

Veterinary medicine market is segmented on the basis ofproduct, animal type, mode of delivery and end-use. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Veterinary Medicine Market Country Level Analysis

Veterinary medicine market is analysed and market size information is provided by country by product, animal type, mode of delivery and end use as referenced above.

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North America dominates the veterinary medicine market due to prevalence of favourable government policies along with rising initiatives to improve animal health while the Asia-Pacific region is expected to grow at the highest growth rate in the forecast period of 2020 to 2027 because of expansion of manufacturing facilities and vaccination for livestock animals.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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Veterinary Medicine Market Analysis 2020 With COVID 19 Impact Analysis| Leading Players In-depth Analysis Research Report Foresight to 2027 -...

It is career number 130 and will last eight semesters, in which 449 credits are covered, divided into 58 subjects - 53 compulsory and 5 electives - plus one year of social service.

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December9, 20203 min read

The University Council of UNAM approved the creation of a degree in Human Nutrition Science, which will be offered at the Faculty of Medicine in Ciudad Universitaria. The faculties of Veterinary Medicine and Zootechnics, Psychology and Chemistry are participants. Among the advisory entities we can find the Obesity and Eating Disorders Clinic of the National Institute of Medical Sciences and Nutrition "Salvador Zubirn" and the Child Obesity Clinic of the General Hospital of Mexico "Dr. Eduardo Liceaga .

With this career offered in the highest house of studies, 130 in total would be added. The purpose of the Bachelor of Science in Human Nutrition is to train competent professionals, capable of integrating and applying scientific, clinical and social knowledge, based on clinical - nutritional - community diagnoses through the assessment of nutritional status, surveillance food - food guidance and education that helps solve problems facing the country in health matters.

The initial quota will be 30 students and admission is indirect, so applicants must be accepted in any of the careers in the area of Biological, Chemical and Health Sciences taught by the National Autonomous University of Mexico, then they will participate in an internal selection process.

According to the creation project, the new degree covers the strategic programs of the Institutional Development Plan 2015 - 2019, linked to the study plans, comprehensive research and development and participation of university students and the highest house of studies. All of the above for national progress and with the commitment that the Faculty of Medicine has with the country in health.

The document states, The Science of Human Nutrition must be the basis of food and nutrition policies. These must be designed to identify, create, conserve and protect community, national and global, rational, sustainable and equitable food systems, in order to sustain the health, well-being and integrity of humanity .

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The Faculty of Medicine of the UNAM will teach the Bachelor's Degree in Human Nutrition Science - Entrepreneur

The new research report titles Global Veterinary Medicine market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 that studies all the vital factors related to the Global Veterinary Medicine market that are crucial for the growth and development of businesses in the given market parameters. The report highlights the important elements related to the market such as the market size, share, company profiles, profitability, opportunities and threats, technological advancements, key market players, regional segmentation, and many more important elements related to the Global Veterinary Medicine market.

The recent Veterinary Medicine market report contains a detailed analysis of this business domain in accordance to the primary growth catalysts, opportunities, and limitations shaping the industry dynamics. An economy-wide database of the regional markets along with the leading organizations that occupy them is outlined in the document. Furthermore, it studies the impact of COVID-19 pandemic on the growth matrix of this vertical and draws attention to the popular tactics adopted by major players to adapt to the uncertainties in the industry.

Major highlights from COVID-19 impact analysis:

Request Sample Copy of this Report @ https://www.aeresearch.net/request-sample/385583

An overview of the regional analysis:

Additional highlights from the Veterinary Medicine market report:

Some of the key questions answered in this report:

What will the Veterinary Medicine market growth rate, growth momentum or acceleration market carries during the forecast period?

What was the size of the emerging Veterinary Medicine market by value in 2020?

What will be the size of the emerging Veterinary Medicine market in 2026?

Which are the key factors driving the Veterinary Medicine market?

Which region is expected to hold the highest market share in the Veterinary Medicine market?

What trends, challenges and barriers will impact the development and sizing of the Global Veterinary Medicine market?

What are the Veterinary Medicine market opportunities and threats faced by the vendors in the global Veterinary Medicine Industry?

What are sales volume, revenue, and price analysis of top manufacturers of Veterinary Medicine market?

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Excerpt from:
Veterinary Medicine Industry Growth Forecast Analysis Manufacturers, Regions, T - News by aeresearch

The eye ailment is especially frequent in certain breeds like the cocker spaniel and Pekinese.

Spotting a red bump in the corner of a pets eye is a concerning but not uncommon experience for many dog owners. Colloquially called cherry eye, this bump may be a prolapsed gland of the nictitans, also known as the third eyelid.

Dr. Sean Collins, a clinical assistant professor at the Texas A&M University College of Veterinary Medicine & Biomedical Sciences, says that ophthalmologists dont entirely understand why the gland of the nictating membrane sometimes protrudes from its original position, but it is believed to be a result of a weakness in the connective tissue responsible for holding the gland in the correct position.

This condition can happen to any breed of dog but is seen most commonly in certain breeds, including the American cocker spaniel, English bulldog, Lhasa apso, and the Pekinese, Collins said.

Pet owners who spot a red swollen mass in the inner corner of their pets eye, large or small, should bring it to their veterinarians attention promptly. In addition to causing irritation to the dog, this condition can have lasting consequences when left untreated.

Without correction, chronic prolapse can lead to conjunctivitis (pink eye) and ocular discharge (liquid coming from the eye), Collins said. It has also been shown that with correction, dogs are less likely to develop low tear production later in life.

Low tear production can result in multiple problems if left untreated. In addition to pain and decreased vision, corneal ulceration may also develop, which can become infected and result in a ruptured eye. This condition responds well to tear stimulant therapy in most cases, but lifelong medication is usually required.

Your veterinarian will be able to confirm whether your pet has cherry eye and can develop a treatment plan that works best to resolve the issue and reduce the potential for ocular issues as your dog ages.

Initial therapy may consist of topical anti-inflammatory therapy if local inflammation may be contributing to prolapse of the gland, he said.If a short course of medical therapy does not work or re-prolapse develops, surgical repositioning is indicated. There are numerous surgical techniques to reposition the gland with overall high success rates.

If surgical treatment is required, Collins stresses that this treatment will benefit your pet in both the short- and long-term.

Surgical repositioning is very important if initial medical therapy fails, as the gland is responsible for about 30-50% of the aqueous tear production in the dog, he said. We commonly see low tear production in the same breeds that develop a prolapsed gland of the nictitans. It has been shown that dogs with surgical repositioning of the gland have a lower chance of developing low tear production later on in life compared to those where the gland has been excised or remains chronically prolapsed.

Unfortunately, there are no known preventative measures to protect against cherry eye, Collins said. This condition can develop in both eyes, usually before the age of two. The best way owners can protect their furry friend is to remain vigilant in monitoring their pets health and to bring concerns to their veterinarian promptly in case an issue does arise.

Pet Talk is a service of the College of Veterinary Medicine & Biomedical Sciences, Texas A&M University. Stories can be found on thePet Talk website. Suggestions for future topics may be directed toeditor@cvm.tamu.edu.

By Texas A&M University College of Veterinary Medicine & Biomedical Sciences Staff

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Pet Talk: What To Know About Cherry Eye In Dogs | FCT News - Freestonecountytimesonline

Zoetis Inc. (NYSE: ZTS) is a leader in the animal health space, providing medicines, vaccines, and diagnostic products to livestock and companion animals. After following ZTS for just over a year now, the company continues to impress me with strong earnings (even during the COVID pandemic), a strong management team, and continually innovating. With all of this in mind, I am increasing my previous price target from $175 to $200 by year-end 2021. As ZTS continues to prove they are the clear leader in this space, I think the stock price will continue to react positively. With this increased price target, I am also pricing in a potential drawdown of only about 6%, where shares could trade to roughly $150.

According to the companys annual 10-K:

Zoetis Inc. is a global leader in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products with a focus on both livestock and companion animals. We have a diversified business, commercializing products across eight core species: cattle, swine, poultry, fish and sheep (collectively, livestock) and dogs, cats and horses (collectively, companion animals); and within seven major product categories: vaccines, anti-infectives, parasiticides, other pharmaceutical products, dermatology, medicated feed additives, and animal health diagnostics. For more than 65 years, we have been committed to enhancing the health of animals and bringing solutions to our customers who raise and care for them.

ZTS is a global leader in the animal healthcare space and has a proven track record when it comes to getting products to the market. With the companys extensive history, spanning roughly 65 years, the company has been able to develop market-leading products, build lasting relationships with customers, and improve the lives of animals. The company develops products for companion animals (dogs, cats, and horses) as well as livestock animals (cattle, swine, poultry, fish, and sheep). The company offers a diverse portfolio of products to each of the aforementioned groups of animals. Below is a basic breakdown of the companys offerings:

*Chart obtained from the companys most recent 10-K Statement.

The company operates in two distinct business segments, broken down by geographic region, including the United States and International. Both segments contribute almost equally to total revenue the company earns, but the US segment has a slight edge with 51% of overall revenue compared to 49% for the International segment. With over 300 different products and product lines that sell in over 100 countries, the company has an incredible presence in the global animal health market. This also ensures the company will remain relatively stable in times of economic uncertainty across various economies. To show this, the company states in their 10-K, in livestock, impacts on our revenue that may result from disease outbreaks or weather conditions in a particular market or region are often offset by increased sales in other regions from exports and other species as consumers shift to other proteins. Below is a breakdown of the companys revenue by geographic segment, species, and product category:

*All three of the above charts were obtained from the companys most recent 10-K Statement.

The various charts above show some very positive trends for the company. First, total revenue has increased an average of roughly 8% on an annual basis. With this, it is also important to note that there has not been a major increase/decrease in any of their reported segments leading to this extraordinary annual revenue growth. Also, the cattle industry has accounted for roughly 55% of total livestock revenue on an annual basis. In the companion animal industry, dogs and cats revenue has accounted for approximately 94% on an annualized basis, but the horse industry has been steadily increasing over the years as well.

In terms of revenue by product category, vaccines, and anti-infectives make up the majority of the total revenue. These two categories have accounted for 50% of total revenue in 2017, 48% in 2018, and 44% in 2019. Although decreasing, I attribute this to increased growth in categories such as parasiticides, dermatology, and animal health diagnostics. Each of these categories has seen incredible double-digit growth over the past few years. Zoetis has made a conscious effort to grow and expand their business and it is showing in this great growth on an annual basis.

Zoetis directly markets their products to veterinarians and livestock producers in roughly 45 countries across North America, Europe, Africa, Asia, Australia, and South America. The company also seeks out opportunities in emerging markets to establish a market-leading position. This is evident in markets including Brazil, China, and Mexico.

Continuing to expand and show that they are the leader in the animal healthcare space, ZTS acquired Platinum Performance in 2019, entering into the animal nutritional space. According to Inkwood Research, the global animal nutrition market was valued at $10888.81 billion in 2018 & is estimated to generate net revenue of approximately $18270.47 billion by 2027, growing at a CAGR of 5.94%. This acquisition has allowed ZTS to have access to premium nutritional product formulas and a unique approach to the field of scientific wellness for horses, dogs, and cats (10-K).

In the animal health industry, there are various potential impacts that have an effect on the livestock and companion animal medicine/vaccine segment of Zoetis business. For the livestock segment, these factors include human population growth and increasing standards of living (especially in emerging markets), demand for improved protein nutrition, increasing urbanization, and increased focus on food safety. For the companion animal market, some factors influencing growth include economic development, increasing pet ownership, improved life expectancy of companion animals, and improved technological advances in medical needs of these animals.

The overall animal healthcare market is expected to grow at a strong 5.7% CAGR [and] was valued at $38.5 billion in 2017 according to Market Research Future (MRFR). According to the APPA National Pet Owners Survey4, nearly 67% of US households (84.9 million homes) have pets. The survey also estimates the average annual cost for owners of a dog and/or cat. Below are the results:

*Numbers obtained from the APPA National Pet Owners Survey.

On average, as can be seen above, having a dog and/or cat annually can become very costly. To get an even better idea of the total cost of having a dog and/or cat, I calculated the estimated lifetime expense using a 12-year life expectancy for dogs and a 14-year life expectancy for cats. I have estimated the lifetime expense for having a dog to be between $14,000-$18,000, while the lifetime expense for having a cat to be $10,000-$14,000. Even with this statistic, people are typically always willing to spend any money necessary for their pets. Many people consider pets to be a part of the family and thus, will spend money on them just as if they were a child.

With the animal health market expected to grow to $99 billion in 2020 the growth in pet adoptions and rescues because of COVID will have a positive effect on this number. I would estimate that the number could top $100 billion easily. In a recent interview with CNBC, Kristin Peck, Zoetis CEO, was asked about the trends in the companion animal market during the COVID pandemic. She stated, we saw 20% growth in our pet care business globally and I think, like everyone else in America, there are certainly three new dogs on my block, it is driving our growth somewhat. With this trend occurring, it is important to note that it will not be a one-off thing because having a pet is a long financial commitment. Another noteworthy statement Ms. Kristin Peck made during the interview was, we think there is sustainability in the pet care numbers because as more [pets] become part of families, they will get an integral role in that family...going home to the comfort of a pet who is always happy to see you is something I dont think people will easily give up.

Since the company is very exposed to international markets, it is important to understand where the company is getting their revenues. Below is a chart depicting where the company has their revenue by country:

*Chart obtained from the companys most recent 10-K Statement.

Breaking down the above chart, it is important to note a few things. First, the U.S. is the only market to contribute more than 10% of total revenue in each of the listed years. Also, there has been a consistent increase in countries outside the U.S. contributing more than $100 million in revenue over the previous three years. In 2017, there were eight countries, 10 countries in 2018, and 11 countries in 2019. This shows that by Zoetis getting into the emerging markets early, it is greatly impacting their financial results on a YoY basis.

With products sold in more than 100 countries and direct operations in 45 countries, Zoetis is very exposed to international markets. Emerging markets accounted for roughly 22% of total revenue for the company in 2019. Because the company is able to get into these markets early, it will continue to pay off in the long term. So, although it may take a while for profits to be seen, these markets will continue to be vital to the overall success of Zoetis.

The animal healthcare industry is extremely competitive; however, Zoetis is the largest company in this space in terms of revenue. But they still face intense competition both domestically and internationally. According to the companys 10-K, principal drivers of competition vary depending on the particular region, species, product category and individual product, and include new product development, quality, price, service, and promotion to veterinary professionals, pet owners, and livestock producers. I believe Zoetis is still positioned well to maintain their position as the global leader in the space.

Given the aforementioned drivers of competition, I think the three most important drivers for Zoetis will be market region, product quality, and promotion/marketing to veterinary professionals/pet owners. With the company already being a leader in emerging markets, it will be key for them to continue to monitor international opportunities in underdeveloped countries. As countries begin to see economic growth, there will be an increase in demand for pets, due to potentially more disposable income. With this demand will come the need for animal health products, such as medicine, vaccines, medicated feeds, etc. By having a proven track record in emerging markets already, it could potentially be easier for Zoetis to break into even more countries with their products.

Product quality will remain a key driver of success in this industry and will be a major determinant of revenue for the company. If product quality lags, in terms of how successful the product is, consumers could go to competing companies that offer similar products. But, if Zoetis can continue to maintain their current quality of products, which I believe is extremely likely, they are still positioned very well to remain the main leader in this space.

Being able to maintain impressive promotion/marketing tactics will drive revenue both internationally and domestically. Being able to reach pet owners specifically, there is an emotional angle the company can take. People want the best for their pets and want them to live a long, healthy life. If Zoetis can create tasteful marking materials to promote this life for pets, it will be crucial to the continued success of their products. When marketing to veterinary professionals, it will be key to be as open and honest as possible about the products. These professionals will be willing to do business with Zoetis as long as there is honest communication about products, and they continue to be of high quality.

Some main competitors of Zoetis include Elanco Animal Health (ELAN) and IDEXX Laboratories (IDXX). Both of these companies offer similar products and, in my opinion, are the two most relatable companies to Zoetis. Zoetis is the largest of these three companies with a roughly $77 billion market cap, while IDXX follows with about $40 billion in market cap. ELAN is much smaller than both of these companies but is also the newest in terms of time in the market and IPO date of September 2018.

There is minimal competition from generic products, but it can vary from market to market. Globally, there is no generic company that competes for market share, but there are a few smaller companies that compete against Zoetis for market share in certain countries. Most of these companies specialize in a few products and do not try to break into different markets. Veterinarians are typically at the forefront of prescribing and dispensing medicine, so having a positive relationship with these professionals could be beneficial in terms of generating revenue.

The company sells its livestock products directly to livestock producers, including beef and dairy farms. They also sell directly to veterinarians, third-party distributors, and various retail outlets that offer livestock products to their customers. For their companion animal products, Zoetis sells these products to veterinarians or third- party veterinary distributors that will sell the products to consumers. In 2019, the companys two largest customers accounted for 15% and 6% respectively, while no other major customer accounted for more than 6%.

The company has sales representatives that go out to different markets to meet with customers to provide in-depth information on the products and sell them. These specialists have advanced degrees in the medical field, so they are extremely trusted globally. They are also able to provide consulting focused on disease management and training/education on diverse medical topics. By having these direct relationships with customers, Zoetis is able to have a better understanding of global wants/needs. This allows the company to be better positioned moving forward because they are able to anticipate changing market conditions.

Strengths:

Zoetis is the largest animal health company in terms of revenue, as previously stated. This can be attributed to the companys diversified portfolio of products and trusted relationships with customers. The company has an immense portfolio of roughly 300 products and sells them in over 100 countries. This allows the company to be better protected in times of poor economic conditions in various countries. If there is an economic downturn in a market, the poor performance can be offset by an increase in export/imports of other countries, as previously stated.

Having trusted customers and lasting relationships with customers is extremely important in the animal health space. The company has positive relationships with suppliers and that is able to mitigate the risk of products not getting out to market quickly. The company also has positive relationships with customers, such as veterinarians and third-party distributors, which allows their products to be well-known. Something that doesnt go noticed is how they send sales representatives and medical specialists to prospective markets to help educate people on their products and the medical industry overall. By doing this, they are breaking into international markets very well and it is showing in their revenue generated by emerging markets. This is a key strength for the company because they are actively engaging with clients and/or potential clients to help get products/knowledge to underdeveloped countries.

The final important strength the company has is that they are able to quickly identify and break into emerging markets effectively. As the global leader in the animal health space, it is vital for Zoetis to be able to consistently be able to get into new and emerging markets. By being able to get into these markets early, such as Brazil, China, and Mexico, they have been able to see a strong increase in revenue for these markets. When emerging markets do well, citizens of those countries can see an increase in disposable income, increasing standards of living, and increased demand for improved nutrition (animal protein).

The company also has impressive growth strategies in place to continue growing their business. First, Zoetis seeks to enhance [the] customer experience (10-K) by providing a personalized experience to customers so they have the best opportunities and knowledge to care for animals. This is specifically seen in the companys commitment to sending employees out into the field for consulting and education purposes. The company has also acknowledged the importance of digital and data analytics as a growing part of the healthcare industry. Zoetis has been actively investing in digital technology to complement their portfolio of products to help better care for animals.

Weaknesses:

One weakness I noticed when evaluating the company was that they have lost a small amount of market share due to an increase in smaller, more niche companies. To counter this, Zoetis will need to develop stronger communication between the executive team, employees on the ground, and market participants to better anticipate the demands of the overall market. By already having their employees on the ground and actively speaking with customers, it is vital for them to understand the smaller, more niche market, as well as the broad industry overall. As they remain the overall leader in the animal health space, it would be nice to see them take back some market share from some of the smaller, more niche companies. Since they havent it tells me that they have either gotten too comfortable with their position in the market, or they do not see the need to develop niche products. Either way, they are losing out on an important market that could add immense value to their business.

Opportunities:

A big opportunity for Zoetis will be further enhancing and developing their online platform. Companion animal customers are having the ability to bypass veterinarians and seek medication for their pets by themselves in certain markets, the U.S. included. Zoetis has an online platform for this, but growing this business will be important, especially during a time when people are increasingly less likely to leave their homes. For their current platform, third parties host and support the platform, so they are essentially paying a company to have their online platform. Given the size of Zoetis, I think it is definitely reasonable for them to find the talent and skillset of people to keep this an in-house job. This will save them money and will allow them to have full access/control over their platform.

Once the COVID pandemic begins to slow, it will be important to see how Zoetis is able to respond. With people being able to get back to work and economies globally recovering, more people will be in the market for animal health products. Again, this will be seen increasingly across their investments in emerging markets, but also as well as well-established economies. As people begin looking for animal health products, it will be important for Zoetis to be able to reach this market.

Threats:

With an increase in overall competition, it puts downward pressure on revenue and overall sales for Zoetis. If there are similar products on the market which cost less, consumers may be more willing now, more than ever, to take that product, regardless of brand name. The COVID pandemic has had this effect on various industries, but specifically in the healthcare industry because of the potential costly expenditures people face. Another threat is that generic companies are able to imitate products and sell them for less, again, putting downward pressure on Zoetis. This has the greatest potential to have a negative effect on the company in lower-income and emerging markets.

Zoetis reports FY2020 Q3 results on November 5, 2020. The company had a very impressive quarter, with companion animal product sales up 20% and livestock animal products up 9%. This also led to an impressive 20% growth in net income. This can be attributed to the impressive results seen by parasiticides such as Simparica Trio, Revolution Plus, and ProHeart 12, as well as a growth in sales for the U.S. cattle market and Chinese Swine market. The Swine market had been hit hard due to an outbreak of African Swine Fever, which had consistent negative impacts on the companys results. As this outbreak is beginning to slow, it will become a key driver of the companys results moving forward. It will be important to recognize how the company responds in the next quarter or two to get a better idea of how well the company will be able to do in this market. The companys new products, including Simparica Trio, Revolution Plus, and ProHeart 12, saw 4% growth for Q3. This is a positive trend I believe the company will be able to maintain moving forward due to an increased need for products with more people having pets.

During the companys Q3 earnings call, Kristin Peck, CEO, stated, this year has shown once again that animal health is a steady and reliable sector, even in times of economic hardship. Around the world, there will be a consistent need for nutrition (animal protein) and companionship from animals. Especially moving out of a COVID world, more people than ever before have companion animals. These animals will need medicine, food, vaccines, etc. and people will be purchasing these products for them.

Ms. Kristin Peck later stated:

in the third quarter, we achieved an important milestone for our pipeline for pain management in pets... there's been limited innovation in this area over the last 20 years, and we're excited by the potential of monoclonal antibodies, or mAbs, to be the next breakthrough in long-term pain management.

In September, the company received positive opinions on their latest mAb, Librela, from the Committee for Veterinary Medical Products in Europe. The company is looking to have Librela on the market in the first half of 2021, which could be a major catalyst for the stock.

Preliminary FY 2021 Estimates Look Strong:

The company typically puts out in-depth fiscal year results in February annually, but there were some mentions of fundamental trends/projections on the latest Q3 earnings call. Mr. Glenn David, CFO, stated:

the long-term fundamentals of the industry remain very strong with increasing pet ownership and also animal protein consumption continuing to grow... COVID has proven that this industry remains extremely resilient and were still able to grow very rapidly and operate very profitably even during these times.

Seeing how the industry has continued to outperform during this difficult economic time has been extremely promising. This trend shows that no matter what, the animal health industry will always have some kind of demand for medicines, vaccines, food, etc. Mr. Glenn David later continued to say, there are some things were very excited about including continued growth in Trio, continued growth in our [dermatology] portfolio, and the approval of our mAb portfolio". Because of the positive outlook for 2021, although very early, I believe the company will be able to continue to have very good long-term value and outperform the overall market.

Growing Companion Animal Healthcare Market:

While the overall animal healthcare market is expected to grow at a 5.7% CAGR, as previously stated, the companion animal healthcare market is expected to grow at a 7.2% CAGR. The main reasons this industry is projected to have great growth is because there are increasing pet adoptions globally, there are more government initiatives focusing on animal health, and there is growing technological advances in the space. As more people have pets, the more likely they are to be willing to spend more money on them. Pets can be considered part of the family, such as an additional child, or the only child in many households across the world. This territory comes with accepting any responsibility to provide a quality life for that animal, just like you would a child.

The vaccine industry is a major contributor to this overall projected CAGR in the companion animal industry. According to Mordor Intelligence, diseases related to companion animals are more probable to get transmitted to the human population. The bite caused by dogs and cats develops many infections in humans... so the majority of the pet owners get the animals vaccinated regularly. Being this as it is, humans will continue to vaccinate their pets, not only to keep them safe/healthy, but to keep their family, friends, and others safe as well. Given an increase in pet adoptions, this segment of the industry will continue to be a key driver as well.

The companion animal healthcare market in the Asia-Pacific region is the fastest-growing region in the world. Zoetis is positioned nicely to be a key player in this market because they are already well-established in the region. The company obtained approval in various Asia-Pacific markets for Simparica Trio. This will be another key driver of success moving forward for the company.

Strong Management Team:

Zoetis management team has been one of the top teams, with multiple positive reviews, for years now. Ms. Kristin Peck, CEO since January 2020, has been with the company in various leadership roles since their IPO in 2013. According to Glassdoor reviews, Ms. Peck has an 81% approval rating as the companys top executive. Only roughly three months into her tenure as CEO, her 100-day plan got upended by the COVID pandemic and she, along with other members of the management team, had to quickly adjust their plans for the future. In an interview with McKinsey and Company, when discussing the COVID pandemic, she stated, the executive leadership team had to pivot... 80-90% of my time was centered on protecting our colleagues and customers. This pandemic was detrimental to various companies, and CEOs/executive teams had to find a way to manage. This is no light task, especially for a CEO who has only been in their role for roughly three months.

In the midst of the pandemic, Zoetis was in the middle of their largest product launch to date with Simparica Trio. Ms. Peck stated, All of our R&D programs remained on track through this. It took a lot of creativity to keep testing sites and laboratories open, to find virtual ways of launching a new product to customers across the U.S. through webinars, and to engage with customers and pet owners. It definitely required some reallocation of resources. Ms. Peck didnt allow the COVID pandemic to impact the business too much and it shows in her commitment to customer safety and having a massive new product rollout during this time. This is exactly the kind of leadership that will continue to drive the company in the right direction and will allow the company to remain a leader in the space.

As the pandemic was beginning to slow and people were able to return to work, it was another challenge in itself to make sure customers and colleagues were still going to be able to remain safe. I believe a lot of our success was from empowering local leaders to make the decisions they needed to, stated Ms. Peck. The executive team realized that every environment was different and that they would need various plans in place to ensure the safety of everyone. In manufacturing sites, they had access to full PPE, so it was more of how to keep the people in the sites in smaller groups and deciding how to stagger shifts efficiently and effectively. On the companion animal side, it was much harder because there is much more human interaction, and they are typically in smaller environments. Instead of making the decisions for a companywide policy, the executive team determined it was best to give the local leaders the ability to make the decisions they thought was best for their area.

Finally, during this time, Ms. Peck has begun having more of an open dialogue with colleagues, wanting them to feel heard and supported during this time. The executive team sent out various surveys trying to determine what colleagues thought they were doing well and not-so-well during the pandemic. The executive team then tried to implement as much of what they could into becoming better. Building on this, Ms. Peck has begun weekly communication with colleagues even saying she has felt the need to overcommunicate and find channels to talk to people on or do virtual market visits. I think this will be key even moving out of the pandemic. Having an open dialogue with various colleagues across various markets will allow the executive team to remain on top of everything going on with their team.

To correctly value ZTS, I have built and developed various financial models. First, I wanted to build a basic comps analysis model to get an idea of how ZTS was trading relative to their biggest competitors. I chose to use ELAN and IDXX as comparisons to ZTS. Next, I analyze various trading/pricing metrics, such as EPS, ROE, ROA, P/E, Payout Ratio, and Dividend Yield. I analyze these metrics over a 3-year period to get an idea of relative trends in their financials. After determining how the company is priced relative to competitors, I build a full-projection model. For this model, I project out each line item the company lists on their financial statements over the next 5-years. This allows me to have a better idea of the companys financials moving forward. By doing this, I am able to build my Basic Assumptions model and full-DCF model. Both of these models lead to an estimated share price and a bull/bear case. Below is a breakdown of my various models.

As previously stated, for my comps analysis, I wanted to compare ZTS to ELAN and IDXX because each of these companies offer a similar animal health portfolio. Below is my model:

*Created by the author using data gathered from the companys respective 10-Qs.

Based on the above data, I determined ZTS is trading at a relative discount to these competitors. ZTS has the lowest EV/EBITDA of the three companies and has the lowest EV/EBIT and P/E ratio compared only to IDXX. I could only compare them to IDXX for these metrics because ELAN has negative metrics for both. I do not think the premium currently being paid for IDXX is warranted, and that a greater premium for ZTS, given their large market cap and market-leading position, is warranted. To see where ZTS could be trading, I chose to average the metrics to determine where the companies could be trading. Below are the results of that process:

*Created by the author using average data obtained from the Comps Analysis model.

The above data shows all three companies' averages in the far-left box and the metrics I chose to use to value ZTS in green. I decreased the metrics because IDXX really skewed the data to the upside and I did not that the averages were always representative of how the company should be valued. I also did not include ELAN in the averages for EV/EBIT and P/E since they were negative. Taking the implied prices with the respective metrics, I came to an intrinsic value of roughly $123, signifying about 35% upside potential from current trading levels.

When building out my ratio analysis, I am looking for trends over a three-year period. Specifically, I am analyzing EPS, ROS, ROE, ROA, P/E, Payout Ratio, and Dividend Yield. In addition, I also build a very basic credit analysis model to better understand the companys overall financial stability and estimate their overall credit rating. Below are the results of the two models:

*Created by the author using data gathered from the companys 10-K Statements.

Each of the indicators above represents a big part of the overall credit rating a company receives from S&P or Moodys. Based on the companys values I have calculated, I think the best credit rating for ZTS would be BBB, indicating the company is in a strong financial position. However, I dont like that the company is becoming very highly levered. This is seen in the Debt/Asset ratio specifically and how it is incredibly high around 73%. Some of the best ratios above, however, include ROE, ROA, and EBITDA Margin. A high ROE indicates that the company is deploying shareholder capital extremely well, while a high ROA indicates the company is very efficient at using their assets to generate profits. I think if ZTS can decrease their leverage, as they have slowly been doing throughout the past few years, they will continue to prove their stock deserves a premium.

Below is my overall Ratio Analysis model:

*Created by the author using data obtained from the companys 10-K Statement.

The company hasnt been extremely consistent over the past three years. ROE has fluctuated partly due to drastic increases in Net Income. The change in Net Income from 2017-2018 was due to 3% price growth of products, increased demand for products, the acquisition of Abaxis, and new product volume growth, as per the 2018 10-K. Although not a very strong dividend yield, I think the company can benefit from keeping it consistent right around .50%. This will allow investors to project out their dividend payments and feel comfortable about consistently receiving them. This will contribute to about a 21% payout ratio, which I think is very reasonable for the company.

For my Basic Assumptions model, I start by calculating the companys Weighted Average Cost of Capital (WACC) and determine appropriate growth trends on a per-sales basis. Next, I project out the important income statement/balance sheet items to get a better view of the company moving into the next 5-year period. After having these line items completed for a 5-year projection, I am able to build out a basic DCF and APV model to calculate an intrinsic value for the company.

Below are my models of a projected income statement/balance sheet and results of the basic DCF/APV models:

*All of the above charts were created by the author using data gathered from the companys annual 10-K Statements and calculated projections.

Based on the above information, I determined ZTS has a fair value of around $188, which signifies roughly 19% upside potential from current trading levels. However, to get an even better idea of the potential price levels of the stock, I created a sensitivity analysis to determine a true bull case and bear case estimate. Below are the results of that model:

*Created by the author using data gathered from the Basic Assumptions model.

As a bull case, meaning, if the company is able to hit all of the above metrics I have predicted, the stock could be trading at roughly $213. On the other hand, if the company falls short on a number of key metrics, the bear case estimated stock price is calculated as roughly $154. In the near term, this is a key pull-back level to watch for. Trading right around $159 now, the bear case calculation signifies only 4% downside potential as opposed to 34% upside potential with a price target of $213. I decided to use a +/- 10% forecast error in determining the bull/bear case estimates. I chose this percentage because I wanted to make sure I got enough downside risk, especially continuing in a COVID environment.

My full-projection model is very in-depth as I project out each line item for the income statement, cash flow statement, and balance sheet on a 5-year basis. By building this model, I am able to get an in-depth look at how I think the companys financials will look into the foreseeable future. As opposed to showing each statement, I will include just my projected income statement here. Below are my projections:

*Created by the author using data obtained from the companys 10-K Statement.

After building out this model, I use this data to build my full-DCF model. This is a more in-depth DCF than in my Basic Assumptions model and it is a 10-year model, rather than a 5-year model. Below are the results:

*Created by the author using data obtained from the full-projection model.

Based on the results of this model, the intrinsic value for ZTS is $227, signifying a 43% upside potential from current trading levels. Using a terminal growth rate of 2%, a decrease from my estimated 4.75% in my full-projection model, allows me to have a better margin of safety in building the model. Decreasing the terminal growth rate also allows the price to be respective of medium-term potential and doesnt let the price get too inflated. I pulled in the WACC of 6.16% from my calculations in my Basic Assumptions model.

Further emphasizing this idea, I created a sensitivity analysis based on the results of these results, determining how the price would change given an increase/decrease in terminal growth rate and WACC. Below are the results:

*Created by the author analyzing different terminal growth rates and WACCs.

More:
Strong Fundamentals In The Animal Health Industry Will Drive Zoetis Shares To $200 And Beyond - Seeking Alpha