Bugworks Research Inc, a biopharma start-up that designs novel broad-spectrum antibiotics, has raised $7.5 million from a global investment syndicate to combat the challenge posed by deadly bacterial superbugs.
The funding was led by University of Tokyo Edge Capital (UTEC) Japan and Global Brain Corporation (Global Brain) Japan, along with Acquipharma Holdings, South Africa. After this round, the start-up has raised $19 million till date with 3one4 Capital as an existing investor.
This investment enables Bugworks to complete Phase-I studies for its GYROX series intravenous drug candidate and advance an oral lead towards clinical development. Bugworks’ drug candidate, a dual-target gyrase-topoisomerase inhibitor supported by CARB-X since 2017, is a novel broad-spectrum agent targeting critical bacterial infections implicated in serious hospital, community and bio-threat indications.
“This new financing is an endorsement of our team and differentiated AMR (antimicrobial resistance) assets, as we bring reputed global investors to aid our mission of pandemic preparedness by defeating superbug infections,” said Anand Anandkumar, CEO of Bugworks.
Tackling viral infections
Elaborating further, he said: “Pandemics that caused millions of deaths on a global scale in the past 500 years have been either bacterial, like the black plague of the middle ages, or viral, like the Spanish flu during the first World War. Both these pandemics caused over 50 million deaths. The current Covid-19 pandemic is of viral origin, however since its primary site of infection is in the lungs, many deaths occur due to secondary bacterial infection, which are often drug-resistant.”
“A preferred response to such a viral infection would be a cocktail of potent antiviral, antibacterial and immune balancing agent. Unfortunately, we are somewhat handicapped in this treatment, which is the main reason for a large number deaths even in this age of modern medicine. We hope that with the current funding and global initiatives around Covid-19, we will get a potent antiviral in the coming years,” he added.
UTEC led the Bugworks Series A in 2018 and facilitated Bugworks’ collaboration with the Japanese ecosystem. “Bugworks has thoroughly impressed us with their scientific rigour, pre-clinical data, business development progress and commitment to saving lives. We are now proud to double-down our investment in Bugworks,” said Tomotaka Goji, Managing Partner & President, UTEC, in a statement.
“As witnessed with Covid-19, infectious diseases are threatening human existence. AMR is a serious issue and Global Brain regards this as a big unmet medical need. We are proud to partner with Bugworks to bring highly differentiated solutions in AMR to the market. We consider India to be an important region, both from innovation and market perspective and are hence accelerating our investment activity in India,” said Yasuhiko Yurimoto, founder, CEO and general partner, Global Brain.
COVID-19's Impact on Telecoms Worldwide, 2020 – Macro Level Impact, CapEx Investment, Supply Chain, Enterprise Demand, Green Shoots – GlobeNewswire
Dublin, May 29, 2020 (GLOBE NEWSWIRE) — The “Impact of COVID-19 on Telecoms” report has been added to ResearchAndMarkets.com’s offering.
COVID-19 has massively disrupted businesses in a short period of time. The lost economic output measured in GDP worldwide could be as high as USD 12 Trillion
China was the first country affected and industrial production fell 13.5% in the first two months of the year according to China National Bureau of Statistics. The United States just passed a $2.2 Trillion relief bill. Unemployment claims filed in the U.S. for the week ending March 20, 2019 were 3.3 Million, four times the worst weekly data reported in the 2009 financial collapse.
The world’s economy could grow at its slowest rate since 2009 this year due to the coronavirus outbreak, according to the Organization for Economic Cooperation and Development (OECD). However, we should recognize that the events that led to this differ dramatically from 2009. COVID-19 is akin to the Spanish Flu but the economy today is more globally connected unlike 1917.
Current OECD estimates for global growth are 1.5%. The speed of COVID-19 has created an urgency for policy makers to act quickly to protect the public and avoid overwhelming hospitals. Business leaders will be equally challenged to quickly prepare for business interruption. This includes rapid changes in workforce logistics to encourage physical distancing, consumer demand shock, and supply chain disruptions.
Expect both forecasted GDP and CAPEX models to be frequently revised downward based on:
- The infection rates of COVID-19 and ability of governments to bend the curve
- Extent and duration of governments to lift lockdowns around the world
- The effectiveness of governments in financially backing the key segments of the economy most impacted by extreme falloff in demand imposed by government shut down orders
The publisher believes that there will be changes to the communications industry, as a result of COVID-19.
Face to face meetings, conferences and office workspaces will not disappear. However, COVID-19 will accelerate trends in remote/distributed work, virtual meetings and electronic collaboration. In essence, electronic collaboration will substitute for some of the spending historically in travel and hospitality. As a result, the shift toward widely available broadband, the shift of enterprise workloads to cloud and SaaS and the importance of broadband wireless (5G) will gain extra importance. The publisher thinks we will see a shift of 5-10% of people will change their behaviour to primarily work remotely. Predominantly this will be about a change in management behaviour and the development of trust of in distributed working.
The telecommunication sector will be moderately impacted by COVID-19.
Some CSPs will increase capital spending to support increases in broadband access driven by consumer demand. Data collected by Nokia Deepfield demonstrates that the network has held up far better under this enormous shift in traffic origination than might have been expected. However, this explosion in bandwidth demand has exhausted the overhead built into the network to guarantee reliability.
The post COVID-19 era will fundamentally change work force behavior.
More employers will enact policies to encourage remote work practices in the future. Some suppliers will experience supply chain disruptions, but we think for the most part this will not be serious. Most suppliers implemented risk mitigation strategies ahead of COVID-19 to gain more control of key components related to infrastructure equipment.
In this short primer, the publisher attempts to set the scene for how the disruption from COVID-19 will impact telecoms. We recognize that at this time everybody’s focus should be on keeping healthy, acting on clear factual information and ensuring that we have the basics of life. Telecoms will, for now, be a key enabler/foundation for all three of these. However, in the long term the current emergency is both a challenge and an opportunity to our industry. Our intent in producing this paper is to allow us to rise to the challenges and to maximize the opportunities.
Key Topics Covered
1. EXECUTIVE SUMMARY
2. MACRO LEVEL IMPACT
3. CAPEX INVESTMENT
- Policy and QoS in the Access Network
- Last Mile Investment
4. SUPPLY CHAIN
5. ENTERPRISE DEMAND
6. GREEN SHOOTS
- Working from Home (WFH)
- Health Monitoring
For more information about this report visit https://www.researchandmarkets.com/r/k6y9tf
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
RioCan Real Estate Investment Trust Schedules Date of Second Quarter 2020 Earnings Release, Conference Call and Webcast – GlobeNewswire
TORONTO, May 29, 2020 (GLOBE NEWSWIRE) — RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced that it is scheduled to release its financial results for the three and six months ended June 30, 2020 before the market opens on Wednesday, July 29, 2020.
Interested parties are invited to participate in a conference call with management on Wednesday, July 29, 2020 at 10:00 a.m. Eastern time. You will be required to identify yourself and the organization on whose behalf you are participating.
In order to participate, please dial 647-427-3230 or 1-877-486-4304. If you cannot participate in the live mode, a replay will be available for a month following the date of the live conference call. To access the replay, please dial 1-855-859-2056 and enter the passcode 5081147#.
Alternatively, to access the simultaneous webcast, go to the following link on RioCan’s website http://investor.riocan.com/investor-relations/events-and-presentations/ and click on the link for the webcast.
RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at March 31, 2020, our portfolio is comprised of 222 properties with an aggregate net leasable area of approximately 38.6 million square feet (at RioCan’s interest) including office, residential rental and 16 development properties. To learn more about us, please visit www.riocan.com.
For further information contact: RioCan Real Estate Investment Trust Kim Lee Vice President, Investor Relations 416-646-8326
Why housing is still the best investment for most Canadians – BNNBloomberg.ca
Owning a home remains the largest single investment for most Canadians. So it’s not surprising that fear over an economy turned upside down literally hits home for so many.
The Canada Mortgage and Housing Corporation (CMHC) recently warned the pandemic and resulting lockdown of the economy could drive the country’s average home prices down by between nine per cent and 18 per cent, as job loss and uncertainty force many Canadians to the sidelines. The federal housing agency expects the housing sector will not return to pre-pandemic levels until the end of 2022.
Most of the concern centres on oil-producing regions hit hard by the crash in crude prices. Housing analysts also point out vulnerability in big cities; especially the booming Vancouver and Toronto condo markets.
That’s potential bad news for speculators or those who just bought a home in a vulnerable region and want to sell in the next three years. For most long-term homeowners who can maintain a sufficient source of income, the best and safest investment remains the roof over their head.
According to the CMHC, average Canadian house values have increased by over five per cent annually over 25-year periods going back to the Second World War. That includes the 2008 global financial meltdown when predictions for a housing market collapse never materialized.
Many homeowners have already benefited from the pre-pandemic housing boom, and for new homeowners, any decline over the next three years can easily be absorbed once the market gets back on track.
For potential homeowners, the next three years could finally open an affordable window to the residential real estate market. One of the biggest pre-pandemic risks in the housing market was the threat of higher mortgage rates, but massive government spending and the resulting drag on economic growth mean that borrowing rates will likely remain low for a long time.
While a home should never be the only investment in a retirement portfolio, it’s unique from other investments in terms of risk. A short-term theoretical drop in the value of a home is not the same as a drop in the value of a stock or something like bitcoin. In most cases, homes are bought and sold far less frequently, which decreases the risk of making a price decline a real loss and allows time for it to recover.
What really sets a home apart from any other investment is its intrinsic value. A home is considered real estate. That means it is a real, tangible, asset and will always have a significant basic value. Other equity investments have intrinsic values, but they can be difficult to measure consistently in relation to their price. Bitcoin, for example, has no intrinsic value because it is backed by nothing. The only value in bitcoin, and many other equities that trade on public exchanges, is a belief by investors that it has the intrinsic value reflected in its trading price.
- Subscribe to BNN Bloomberg’s new weekly personal finance newsletter, Home Economics, here: bnnbloomberg.ca/subscribe
The intrinsic value of a home comes in part from the fact that it is the only investment you can actually live in. It’s an asset you can rest your head in it at the end of the day no matter what value the market places on it. In addition to the potential for it to go up in value over time, a home pays a sort of dividend equal to the cost of rent if you didn’t own a home. A home can also generate income by renting out all or part of it.
Home ownership also allows average investors to build equity by borrowing at a low interest rate in the form of a mortgage by using the property as collateral. Over time, that equity can be used to borrow at a low interest rate through a home equity line of credit (HELOC).
Perhaps the biggest and hardest measure of the intrinsic value of a home to quantify comes from its newfound role as sanctuary during a global pandemic. The value of a home in a time when social distancing could become the norm for years to come is immeasurable. Being cooped up with the people closest to your heart can be frustrating at times but can offer rewards well beyond its market value.
Although the economy has been turned upside down there will always be an economy as long as there is demand for something. Investment trends may come and go but the desire to own a home will always drive demand.
Payback Time is a weekly column by personal finance columnist Dale Jackson about how to prepare your finances for retirement. Have a question you want answered? Email email@example.com.
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