Andrew Gillan of Janus Henderson Investors says he likes markets in the Philippines and Indonesia, and explains why it's difficult to invest in Vietnam despite its...Investingread more
China has other "weapons" in its trade battle with the United States — and selling off its U.S. Treasury holdings will not be one of them, said Richard McGregor, senior fellow...China Economyread more
Deutsche Bank Wealth Management's global chief investment officer predicted the Federal Reserve will cut interest rates twice in the next 12 months, but chances of a four-time...US Economyread more
Google's services have been blocked in China for several years, but the company still has businesses there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt.Technologyread more
Germany online bank N26 said it raised a huge $170 million in additional funding, valuing the six-year-old fintech start-up at $3.5 billion.Technologyread more
Stocks in Japan were the biggest losers among major markets in the region on Thursday, with the other Asian bourses following suit, amid a renewed threat to trade.Asia Marketsread more
The House voted to table a resolution to start impeachment proceedings against President Donald Trump introduced by Rep. Al Green.Politicsread more
A photo editing app has introduced a few new wrinkles to the faces of celebrities — and to the ongoing discussion around personal digital security, NBC reports.Technologyread more
Property price gains across the wider U.K. have been slowing since 2016, according to the U.K.'s Office for National Statistics.Real Estateread more
The International Monetary Fund on Wednesday said that the U.S. dollar was overvalued by 6% to 12%, based on near-term economic fundamentals, while the euro, Japan's yen and...World Economyread more
The announcement that pharma giant GlaxoSmithKline (GSK) is planning to spend $350 million plus to get a slice of a U.K. biotech's promising cancer drugs, on Monday, raised eyebrows for a couple of reasons.
GSK's deal with Adaptimmune, based in Oxford, involves a more collaborative approach than the tradition checkbook approach taken by big pharma to smaller biotechs, which is a growing trend as pharmaceutical companies try to spend less on risky early stage research and development.
"We are delighted to collaborate with GSK…Its substantial development and manufacturing expertise in key areas will be invaluable as we work together to accelerate the development of our programs and bring potentially breakthrough cancer therapies to patients," James Noble, chief executive officer of Adaptimmune, said in a statement.
The area of immuno-therapy in which Adaptimmune operates increasingly looks like the next frontier for medical research. If the medicines being developed fulfil their promise to help train the body to fight cancer (and many may not) they could effectively make many forms of cancer chronic or liveable-with, much like HIV has become in the West, rather than quick killers. They currently only make up around 3 percent of the treatments for cancer around the world, but this could reach 60 percent by 2023, according to Citi calculations.
It is an increasingly crowded marketplace, with Roche,dubbed the "immunotherapy ninja" by Citi analyst Andrew Baum, and AstraZeneca, which was recently targeted by Pfizer partly because of its immuno-oncology platform, currently leaders of the pack. Adaptimmune, which had several suitors for the treatments acquired by GSK, specializes in treatments which bolster the body's own T-cell defenses to fight cancers like multiple myeloma, melanoma,sarcoma and ovarian cancer.
This deal is also interesting because, less than two months ago, GSK made a high-profile and lucrative exit from most of its cancer business by selling it off toNovartis. This boosting of its own immuno-therapy business shows how eager the company is to get in at the cutting edge of research.
And at a time when there is a renewed focus on UK science after it came under the microscope during Pfizer's failed attempt to woo AstraZeneca, this is also a vote of confidence in the research being done in U.K.'s "golden triangle" of Oxford, Cambridge and London.