The Los Angeles Times this week reports on a new UnitedHealth Group study that "estimates spending on genetic tests at $5 billion in the US in 2010," adding that it "could reach $25 billion within a decade." The LA Times says that the increasing availability of genetic tests and molecular diagnostics "offers the promise of earlier detection of disease and more personalized treatments that could wring substantial savings from the nation's $2.6 trillion-a-year healthcare tab." However, the LA Times adds, some "worry that those benefits may be outweighed by indiscriminate use of genetic testing." The research arm of UnitedHealth surveyed physicians and patients on their attitudes toward genetic testing, and estimates that its members in private plans, Medicare, and Medicaid "spent $483 million on genetic tests in 2010, with 40 percent related to infectious diseases, 16 percent for cancer, and the rest for inherited disorders and other conditions." UnitedHealth also found that "more than half the 1,506 consumers surveyed were concerned about their physician's ability to know when a genetic test is needed and interpret it, the confidentiality of test results and about possible discrimination," the LA Times adds. Original post: Physicians, Patients Talk Genetic/MDx Tests … Continue reading →

By Alex Nussbaum - Mon Mar 12 04:00:00 GMT 2012 Genetic tests may become a $25 billion annual market in the U.S. within a decade, highlighting the need to identify which exams work the best, insurer UnitedHealth Group Inc. (UNH) said. A majority of the 1,800 DNA tests developed to identify or manage medical conditions still havent been studied enough to prove their effectiveness, UnitedHealth, the biggest U.S. insurer by sales, said in a report today. The technology generated $5 billion in 2010, the insurer said, and three to five new tests are being introduced each month. The projections bode well for diagnostics companies including Genomic Health Inc. (GHDX), Myriad Genetics Inc. (MYGN) and Life Technologies Corp. (LIFE), said Daniel Leonard, a Leerink Swann & Co. analyst in New York. They also raise questions about the effect on consumers, doctors and governments struggling with rising medical bills, UnitedHealth said. While genetic exams hold great promise for better health and medical care, the Minnetonka, Minnesota-based insurer said in the report. They also pose significant challenges to a system that is increasingly unaffordable. The paper, released to coincide with a Washington D.C. conference on gene testing, calls for cheaper, quicker methods to … Continue reading →

WASHINGTON--(BUSINESS WIRE)-- A new report by UnitedHealth Groups (NYSE: UNH - News) Center for Health Reform & Modernization finds that a majority of physicians are utilizing genetic testing. The report, titled Personalized Medicine: Trends and prospects for the new science of genetic testing and molecular diagnostics, presents new findings on how genetic tests can help diagnose disease, target prevention, and ensure that patients receive the medicines that will best treat their conditions. Genetic testing is currently available for about 2,500 conditions, including cancers and communicable diseases, and it is estimated to be growing by double digits annually. Full genome sequencing, which maps an individuals entire genetic code, is also expected to become widely available, possibly beginning as soon as later this year. Genetic science offers unprecedented potential to prevent disease and improve diagnosis and treatment, ushering in an era of truly personalized care, said Simon Stevens, executive vice president, UnitedHealth Group, and chairman of the UnitedHealth Center for Health Reform & Modernization. But for patients to realize these practical benefits, we will also need new models of research and care delivery combined with informed choice and appropriate consumer safeguards. The report sheds new light on three important questions: What do … Continue reading →

More Topics: Choose a Sector Accounting Firms Advertising/Media/Communications Capital CEO/Board General Business Health/Biotech Internet/Technology Investment Firms Law Firms Mergers & Acquisitions Money Managers People Private Companies Public Companies Venture Capital Posted March 12, 2012 Thomas W. Prendergast Cardiothoracic Surgeon Specializes in Heart Transplantation CLEARWATER, FL -- Biostem U.S., Corporation (OTCQB: BOSM) (PINKSHEETS: BOSM) (Biostem, the Company), a fully reporting public company in the stem cell regenerative medicine sciences sector, announced today the addition of cardiothoracic surgeon Thomas W. Prendergast, M.D. to its Scientific and Medical Board of Advisors (SAMBA). Biostem CEO, Dwight Brunoehler stated, "The Company is now positioned for growth and international expansion. Adding a world class team of clinical, laboratory, and regulatory experts for our Scientific and Medical Board of Advisors to guide our pursuits is essential. Dr. Prendergast brings a wealth of experience not only in the scientific aspects of stem cell use in regenerative medicine, but also in forging research and international economic development opportunities." Dr. Prendergast is a busy clinical cardiothoracic surgeon, who performs 200-250 open-heart operations and 5 to 15 heart transplants each year. He is deeply involved in numerous clinical and research activities associated with stem cells and heart repair. He is presently … Continue reading →

BILLERICA, MASSACHUSETTS and TORONTO, ONTARIO--(Marketwire -03/12/12)- Editors Note: There is a photo associated with this press release. EMD Millipore, the Life Science division of Merck KGaA, and the Centre for Commercialization of Regenerative Medicine (CCRM) today announced a collaboration to develop optimized conditions for bioreactor-based cultivation of stem cells. This joint project will focus on the development of a proprietary monitoring and control methodology, enabling robust growth of adherent human pluripotent stem cells in EMD Millipore's Mobius CellReady stirred tank bioreactor. Ultimately, the project will deliver a commercially available kit containing reagents and associated methodologies for bioreactor culture of stem cells on microcarriers. "As the demand for stem cells used in drug discovery and clinical applications grows, effectively translating the promise of stem cells into therapeutic reality will require large-scale, industrialized production under tightly controlled conditions," states Robert Shaw, Commercial Director of EMD Millipore's Stem Cell Initiative. "At this time, production is typically achieved using stacks of 2D tissue culture vessels, which is an expensive and labor intensive process. This joint project will address those challenges and facilitate optimized, large-scale cultivation of stem cells which can accelerate the progress of therapies into the clinic." "When CCRM was created, we had … Continue reading →

CARLSBAD, Calif.--(BUSINESS WIRE)-- International Stem Cell Corporation (OTCBB:ISCO.OB - News) http://www.internationalstemcell.com, a California-based biotechnology company focused on therapeutic, cosmetic and research products, announced today that it had obtained new capital financing and made important changes in the composition of its Board of Directors to ensure that Independent Directors hold the majority of Board seats. The financing consists of $5 million in newly issued Series G Convertible Preferred Stock (without warrants), convertible into Common Stock at a conversion price of $0.40/share, the market price of the Companys Common Stock on the date the offer to purchase was made. This financing was made by AR Partners LLC, a healthcare investment firm owned by Dr. Andrey Semechkin, ISCOs CEO and Co-Chairman of the Board of Directors. Concurrently with the closing of this financing, the Company elected to its Board of Directors Dr. James Berglund, co-founder of Enterprise Partners Venture Capital - one of the premier venture capital firms in the field of healthcare technology founded in 1985. Dr. Berglund, with his extensive professional experience, continues as an active participant in the biotech and healthcare industries. Dr. Berglund will replace Kenneth C. Aldrich, co-founder and former CEO of the Company during the period 2008-2009, … Continue reading →

CLEARWATER, FL--(Marketwire -03/12/12)- Biostem U.S., Corporation (OTCQB: BOSM.PK - News) (Pinksheets: BOSM.PK - News) (Biostem, the Company), a fully reporting public company in the stem cell regenerative medicine sciences sector, announced today the addition of cardiothoracic surgeon Thomas W. Prendergast, M.D. to its Scientific and Medical Board of Advisors (SAMBA). Biostem CEO, Dwight Brunoehler stated, "The Company is now positioned for growth and international expansion. Adding a world class team of clinical, laboratory, and regulatory experts for our Scientific and Medical Board of Advisors to guide our pursuits is essential. Dr. Prendergast brings a wealth of experience not only in the scientific aspects of stem cell use in regenerative medicine, but also in forging research and international economic development opportunities." Dr. Prendergast is a busy clinical cardiothoracic surgeon, who performs 200-250 open-heart operations and 5 to 15 heart transplants each year. He is deeply involved in numerous clinical and research activities associated with stem cells and heart repair. He is presently Director of Cardiac Transplantation at Robert Wood Johnson University Hospital in New Brunswick, New Jersey where he holds an Associate Professorship of Surgery at the University of Medicine and Dentistry of New Jersey. In addition to being an active … Continue reading →

MINNEAPOLIS & GENEVA--(BUSINESSWIRE)-- Milestone comes 25 years after the first DBS implant for Tremor carried out in Grenoble, France Medtronic, Inc. (NYSE: MDT) today announced that a patient from Kempenhaeghe-Heeze (The Netherlands) is the first patient to be enrolled into the MORE (MedtrOnic Registry for Epilepsy) Registry which is designed to look at the long-term efficacy, quality of life impact and safety of deep brain stimulation (DBS) in patients with refractory epilepsy. DBS for epilepsy received CE mark for use in Europe in August 2010. Medtronic DBS Therapy is not currently approved by the U.S. Food and Drug Administration for use in the United States for the treatment of refractory epilepsy. The MORE Registry will involve approximately 200 prospective patients over two years from more than 30 centres across Europe including the Tampere and Tubingen Hospitals which have the most experience to date with DBS of the Anterior Nucleus of the Thalamus. The primary objective of the registry is to examine the impact of DBS therapy on seizure frequency. The study will also look at seizure type and severity, safety and impact of the therapy on a patients quality of life. More than 30% of people with epilepsy fail to … Continue reading →

Tacoma, WA (PRWEB) March 12, 2012 KOMPAN Playgrounds and Generation Rescue have partnered to create and promote relevant play opportunities for children with autism. KOMPAN believes that every child has the right to play - in their own way. Therefore, KOMPAN is working to create play spaces that cater to the unique play habits and development processes of children with autism. KOMPAN will use Generation Rescues knowledge of autism-specific needs to best incorporate playground products such as their industry-leading spinners into autism-focused site designs to create spaces for children with and without autism to play in their own way. KOMPAN was first inspired to serve the autism community when parents started communicating the benefits to their sensory-seeking children of playing on KOMPANs Spinner Bowls, Spicas and other spinning products. The Kompan Play Equipment Series provides tremendous opportunities for both physical and mental growth in children who fall on the Autism Spectrum. Challenging but not intimidating, visually interesting play structures will entice children with special needs to try and eventually master play skills all the while providing a very safe and well thought out system. I can whole-heartedly endorse these fun filled play systems, states Jerry J Kartzinel MDFAAP, Fellow American … Continue reading →