MAY , 2023 | THE HEALTH

The California-based biotechnology company , which specialises in autoimmune disease treatments , will be acquired by Merck for US $ 200 per share . Before the announcement , shares of Prometheus were trading for US $ 194.49 each .

“ This is allowing us to move into immunology in a strong way and will allow us sustainable growth , we think , well into the 2030s given the long patent life ,” Merck Chief Executive Robert Davis said .

Davis said the Prometheus drug , PRA023 , being developed to treat two inflammatory bowel diseases ( IBD ), ulcerative colitis and Crohn ’ s disease , and other autoimmune conditions , could be a multibillion-dollar seller for Merck . He said the recent release of encouraging mid-stage trial results drove Merck to pounce .

“ We ’ ve been watching their

HATTEN Land Limited and Quantum Healthcare Limited signed a strategic partnership agreement , where Quantum Healthcare will establish a specialist outpatient care centre , Quantum Specialist Centre , at Hatten Land ’ s Imperio Mall in Melaka .

As anchor tenant of the eightstorey mall , Quantum Healthcare will take up at least 180,000 square feet of space on three floors for medical specialists , aesthetic doctors , and F & B brands . It will retain some of the space for its own office use .

Quantum Specialist Centre is expected to open in phases from the second half of 2023 and it marks Quantum Healthcare ’ s maiden foray into medical and wellness business and its first overseas expansion . Quantum Healthcare ’ s dentistry

A LEADING US-based Applied Behavior Analysis ( ABA ) therapy provider , Verbal Beginnings , has partnered with The Clinician , a global healthcare company , to pilot a patient reported outcome measures ( PROMs ) programme for children with autism spectrum disorder ( ASD ).

The program aims to support Verbal Beginnings in the delivery of person-centered care , leveraging The Clinician ’ s health platform to digitally collect and analyse health clinical development program for a while ,” Davis said .

Merck represents the cleanest acquirer from an antitrust perspective , and the likelihood of a counter-bid is low because other significant pharmaceutical companies already have a significant exposure to IBD or immunology , according to Stifel analyst Annabel Samimy . “ Merck has acquired a game-changing asset in PRA023 ,” said Samimy .

According to Davis , Merck could begin a late-stage ulcerative colitis study of the drug in the fourth or first quarter of 2024 if the deal closes as anticipated in the third quarter of this year .

As the patents on its popular cancer immunotherapy Keytruda start to expire towards the end of the decade , Merck has been looking for deals to protect itself from potential revenue loss . The business reported

business activities in Singapore account for all of its revenue .

Quantum Healthcare aims to earn recurring income from managing Quantum Specialist Centre , which will be the newest healthcare facility in Melaka once it opens . Melaka , a UNESCO world heritage site , is also home to several established healthcare groups such as Mahkota Medical Centre , Pantai Hospital Ayer Keroh , Putra Specialist Hospital and Oriental Melaka Straits Medical Centre .

Having made a name for itself as a healthcare hub , Melaka is well-suited to be a regional specialist outpatient care centre , especially now that interstate and cross-border travel has resumed with Covid-19 restrictions out of the way , according to Quantum

outcomes of children with ASD from the perspective of families and caregivers .

The program will enable Verbal Beginnings ’ clients , families , and caregivers to remotely report on the health outcomes that matter most to them , including social communication , behavioral functioning , and quality of life . The outcomes collected follow standards set out by the International Consortium of Health Outcomes

Keytruda sales of almost US $ 21 billion in the previous year .

According to Davis , Prometheus acquisition revenue could begin to flow around the time that Keytruda patents might potentially expire .

Davis compared the arrangement to the one he made with Acceleron in 2021 , which permitted Merck to quickly expand its pipeline of cardiovascular drugs .

“ I believe now we have a very strong portfolio in the cardiometabolic space . We see this acquisition of Prometheus building out a similar portfolio in the immunology space ,” Davis said , adding that Merck brings scale , global reach and significant capital to deploy .

Merck reportedly discussed purchasing cancer-focused biotech Seagen last summer , but rival Pfizer ultimately agreed to buy Seagen recently for US $ 43 billion .

Healthcare ’ s CEO , Thomas Tan . “ Melaka is one of several healthcare hubs in Malaysia and the federal government is stepping up efforts to further promote the country as one of the leading medical tourism markets in Asia . Besides Malaysians , we want Quantum Specialist Centre to also target Singaporeans and Indonesians ,” said Tan .

While Melaka is one of the top tourism sites in Malaysia that is renowned for its UNESCO World Heritage sites , this multi-cultural city is also a popular medical tourism destination in Malaysia .

Measurement ( ICHOM ), a global leader in value-based healthcare and patient-centered outcomes measurement .

Diana Wolf , co-Chief Executive Officer , and co-Founder at Verbal Beginnings , as well as a trained BCBA , commented on the program : “ We are so excited to partner with The Clinician , to execute our value proposition of providing effective treatment through compassionate care .”

THOUGHTFULL , Asia ’ s first digital mental health company that provides seamless end-to-end mental healthcare for all , announced on March 23 , that it has raised US $ 4 million in an oversubscribed pre-series A funding round , led by Sheares Healthcare Group , a wholly-owned healthcare entity of global investment firm , Temasek .

Joining Sheares Healthcare in this round are returning investors , Vulpes Investment Management , The Hive Southeast Asia , as well as founding members of technology giants such as Grab , Zalora , and global private family offices .

Awareness around mental health and mental wellness solutions has increased . Employers are now prioritising mental and physical health and work-life balance initiatives as integral components of their return-to-worksite strategy following the pandemic . However , systemic barriers such as disjointed mental health resources and a lack of mental health coverage in insurance policies across Asia inhibit employers ’ ability to evolve their well-being programs to meet employee needs .

ThoughtFull ’ s digital platform , ThoughtFullChat , was developed in collaboration with leading global industry experts and local mental health professionals to address the challenges faced by traditional mental health systems struggling to meet the rise in demand across Asia . It is designed to meet the user ’ s needs regardless of where they are in their mental wellbeing journey , offering self-care resources such as personalised content and progress tracking tools to professional support provided through video calls and textbased mental health coaching , which ThoughtFullChat pioneered in Asia . ThoughtFull has seen 30 times revenue growth since its launch . The platform ’ s mental health professional network has grown to 57 locations across Asia , and its user base now covers 95 locations worldwide .

“ ThoughtFull ’ s approach to scaling seamless , end-to-end mental healthcare aligns with Sheares ’ mission to invest in companies that are shaping the future of healthcare through innovative and patientfocused care ,” said Khoo Ee Ping , Chief Corporate Development Officer of Sheares Healthcare .

Joan Low , Founder and CEO of ThoughtFull said : “ Sheares Healthcare is one of the leading healthcare investors globally and we are excited to be partnering with them to advance Asia ’ s mental health ecosystem to the next level .” – The Health