Meet the most prominent healthcare trends in 2024
S&P/ASX 200 Health Care [XHJ] index sheds -5% in October
But health stocks among ASX best during the month
Bernard Marr, a world-renowned thought leader in the fields of business and technology, has laid out the key societal drivers that he believes will impact the healthcare sector in 2024.
Marr believes the convergence of longer-living population, transformative technologies, and continued global economic uncertainties means we are heading into uncharted waters.
Here’s a shortened overview of Marr’s thoughts on the most prominent healthcare trends in 2024:
Generative AI In Healthcare
“AI will be instrumental in many of the trends here, but generative AI, in particular, will be particularly impactful over the next 12 months,” Marr said.
“It will democratise access to other transformative AI applications, making it easier to implement and interpret results and generate personalised recommendations.”
Marr added that the applications of generative AI in healthcare are practically limitless.
Personalised Medicine
“The most advanced applications here are in genomics, where AI is being used to analyse patients’ DNA to diagnose and treat diseases, and to create medicines that are personalised to specific people down to the molecular level,” Marr said.
Marr believes that a personalised approach to healthcare will lead to better patient outcomes and more efficient use of medical resources.
Virtual Healthcare Assistants
“Virtual assistants and chatbots can help clinicians by providing advice on treatments, diagnoses, and medications,” said Marr.
“They can also help patients by answering questions about their care, and connecting them with the information they need to make more informed decisions about their own care.”
Increasingly, they also interface with electronic health record systems, and are used to book and schedule appointments.
IoT-Powered Virtual Hospitals And Telemedicine 2.0
“This trend includes both telemedicine and wearable devices connected to the global network known as the Internet of Things (IoT),” Marr noted.
“By using connected devices to remotely monitor patients and provide communication channels for healthcare professionals, more elements of care can be delivered remotely.”
Preventative Healthcare
“This covers many topics, including exercise, wellness, and immunisations, but it all boils down to the old adage that prevention is better than cure,” he said.
“This shift from reactive to proactive approaches will be a strategic priority for healthcare providers in 2024.
“Research has shown that it can create long-term benefits for patients, as well as reduce the costs associated with treating preventable conditions.”
Elderly Care
“Many developed nations have aging populations, which will inevitably put increasing pressure on healthcare systems as people live longer and require more support in later life,” Marr said.
“There will also be an increased focus on developing new treatments for diseases that occur specifically in old age and put a strain on care systems such as Alzheimer’s and Parkinson’s.”
And now, closer to home…
ASX Biotech Winners in October
Dimerix rose after announcing an exclusive licence agreement with Advanz Pharma to sell Dimerix’ Phase 3 drug candidate DMX-200.
DMX-200 treats focal segmental glomerulosclerosis (FSGS) kidney disease, and the deal will provide Advanz rights to sell the products in the European Economic Area, the UK, Switzerland, Canada, Australia, and New Zealand.
Dimerix retains all rights to commercialise DMX-200 outside of these territories. DMX-200 is currently in global Phase 3 clinical development, in which the first analysis outcome is expected in March 2024
Noxopharm has been surging after announcing in early October that the US FDA has has granted Orphan Drug Designation (ODD) status to Noxopharm’s CRO-67 preclinical drug candidate, for the treatment of pancreatic cancer.
CRO-67’s designation as an orphan drug supports the company’s development plan for the asset, and its future commercial value, as Noxopharm continues to build the data package that will be required for regulatory progression.
So far this year only two other Australian companies have received an ODD from the FDA, from a total of 260 issued.
Noxopharm followed that piece of good news with another announcement where it said that new data shows that SOF-VAC, its proprietary asset, significantly reduces mRNA-driven inflammation in animal testing.
In the animal study, inflammation was reduced by around 50% when comparing the inflammation induced by mRNA alone, versus mRNA plus SOF-VAC.
Chimeric Therapeutics (ASX:CHM)
Chimeric skyrocketed by as high as 73% on Tuesday morning after a big announcement related to its lead asset CHM 2101, a novel 3rd generation CDH17 CAR T cell therapy for gastrointestinal cancers.
Chimeric says the US Food and Drug Administration (FDA) has given the all-clear for the Investigational New Drug (IND) application of CHM 2101.
The approval means that CHM 2101 is expected to be the first ever CDH17 CAR T cell therapy to enter the clinic.
With the FDA IND clearance, Chimeric will now begin the initiation of a Phase 1/2 multi-site clinical trial in patients with advanced colorectal cancer, gastric cancer and neuroendocrine tumours.
The study is planned to begin patient enrolment in 2024.
Althea announced that its THC20:CBD1 cannabis oil (50 ml) has been approved for reimbursement in Ireland.
Althea THC20:CBD1 will be reimbursed for intractable nausea and vomiting associated with chemotherapy.
Controlling chemotherapy-induced nausea and vomiting (CINV) is critical to ensure adherence with chemotherapy, and reduce morbidity and total healthcare costs.
The agreed reimbursement price for Althea THC20:CBD1 (50ml) is €330, or approximately $552.
Currently, Althea is the only supplier with multiple cannabis oils approved for reimbursement in Ireland – Althea THC20:CBD1, and previously Althea CBD12:THC10.
Arovella Therapeutics (ASX:ALA)
Arovella has also been rising after announcing that it has entered into a global, exclusive licence with Sparx Group to develop a world-first iNKT cell therapy targeting gastric cancers, gastroesophageal junction cancers, and pancreatic cancer.
Under the licensing deal, Sparx will have access to the use of a novel monoclonal antibody (mAb) sequence targeting CLDN18.2 in cell therapies.
The mAb, known as SPX-101, has completed all preclinical proof-of-concept, safety and toxicology studies required to commence a Phase 1 trial to treat gastric cancers.
Sparx will use the SPX-101 sequence to generate a chimeric antigen receptor (CAR) that will be incorporated into Arovella’s iNKT cell platform to target those cancers and other solid tumours.
ASX Biotech Losers in October
The post ASX Biotech October Winners: Dimerix, Noxopharm and Chimeric dominate as investors hunt next big thing in pharma appeared first on Stockhead.
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