Archive for September, 2016

Avelas Biosciences Completes $20 Million Series C Financing

Saturday, September 10th, 2016

SAN DIEGO, Aug. 18, 2016/ PRNewswire/– Avelas Biosciences, Inc., a clinical stage oncology-focused company dedicated to enhancing cancer patient care from diagnosis through treatment, today revealed it has actually finished a Series C financing which raised $20 million in new funds. The investment was led by Pharmstandard International, SA and includes brand-new financiers Ervington Investments Limited and Alexandria Venture Investments. Existing financiers Avalon Ventures, Bregua Corporation, and WuXi Health care Ventures took parttook part in the financing as well. Avelas Biosciences prepares to utilize the proceeds to advance AVB-620, a cancer illuminator, into late-stage medical trials, to establish new targeted therapies for cancer and for basic business functions.

The company also announced today that, in conjunction with the financing, Andrei Petrov, PhD has joined Avelas Biosciences board of directors. Dr. Petrov is the chief executive officer and handling partner at Inbio Ventures, a venture capital management company representing Pharmstandard International, SA At the same time, Kevin Kinsella and Nikolay Savchuk will be stepping down as directors of the company.

Now We KnowWe Understand The Real Factor Aetna Bailed On Obamacare

Friday, September 9th, 2016

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President Barack Obama and AttorneyAttorney general of the United States Loretta Lynch at the White House.
Kevin Lamarque/Reuters On Monday night, news broke that a person of the five biggest insurance providers in the US, Aetna, was leaving 70% of the counties where it offers insurance coverage through the Affordable Care Acts public health care exchanges.

The move was viewed as a huge blow to the future of the act, making Aetna the 3rd large insurance company, after United Health care and Humana, to significantly lower its Obamacare business.

Aetna pointed out the large losses that the company has incurred from the exchange company– $200 million in the 2nd quarter alone– when explaining its choice to roll back its company.

These statements, however, appeared to be a significant turnaround from the business first-quarter profits employ April, when CEO Mark Bertolini said the company planned to remainremain in the exchanges and that the company was in a really excellent place to make this a.
sustainable program.

Now, nevertheless, it appears a big reason for the shift in tone was.
Department of Justices claim to block Aetnas merger with.
competing Humana.