PALM BEACH, Fla., Nov. 4, 2020 /PRNewswire/ -- Globally, there has been an ever expanding rise in concerns regarding environment and health impacts of disinfection, chemical, and biological contaminants as by-products in wastewater and supply water which has begot new products, procedures and technologies to confront air and water pollution and especially disinfection matters, in the present pandemic. A recent report from Allied Market Research said that the global UV disinfection equipment market was valued at $1.3 billion in 2019 and is projected to reach $5.7 billion by 2027, growing at a CAGR of 17.1% from 2020 to 2027. It said: "UV disinfection equipment uses short-wavelength ultraviolet C (UV-C) light to kill or inactivate microorganisms by destroying nucleic acids and disrupting their DNA, leaving them unable to perform vital cellular functions. It is used in a variety of applications, such as food, air, and water purification ongoing COVID-19 pandemic across the globe has led to increase in demand for automated UV-C light-based surface disinfection systems. The demand has been raised especially from healthcare industry and commercial institutions to stop the transmission of corona virus by avoiding the manual cleaning practices. This factor is expected to drive the growth of the UV disinfection equipment market during the forecast period." Active Companies from around the market include: Applied UV, Inc. (NASDAQ: AUVI), Moderna, Inc., (NASDAQ: MRNA), INOVIO (NASDAQ: INO), Pfizer Inc. (NYSE: PFE), Novavax, Inc. (NASDAQ: NVAX).
The report also spoke to the application of UV disinfection equipment in the drinking water, wastewater, and process water treatments. It said: "High R&D investments by the manufacturers to enhance the performance of UV disinfection equipment for large volume applications such as municipal drinking water and industrial process water treatment is expected to drive the market growth. Supporting government policies for water and wastewater treatment has accelerated the technology growth in developing countries such as India and China. Surge in demand for clean and safe drinking water, owing to rise in population and scarcity for freshwater resources is expected to have a positive impact on the UV disinfection equipment market."
Applied UV, Inc. (NASDAQ: AUVI) BREAKING NEWS: Applied UV, Inc. Announces Non-Binding Letter of Intent to Acquire the Airocide™ System for Airborne Pathogen Reduction - Applied UV, Inc. ("Applied UV" or the "Company"), an infection prevention technology company that applies the power of ultra violet C ("UV-C") light utilizing its patented devices to destroy pathogens, including bacteria and viruses, safely, thoroughly, and automatically, today announced that in addition to its exclusive Joint Distribution and Licensing Agreement with Akida Holdings LLC, a privately-held corporation in Jacksonville, Florida ("Akida") that was announced in a press release on September 8, 2020, it has signed a non-binding letter of intent (the "LOI") to explore the possibility of acquiring certain key assets of Akida, including Akida's rights to the manufacture and sale of the Airocide™ System of patented, air purification technologies, which may aid in the reopening of the global economy with applications in the hospitality, hotel, healthcare, nursing homes, grocer, wine, commercial buildings and retail sectors, for up to an estimated $12,000,000 of Applied UV stock which will likely include agreements to lock up such stock for a yet to be determined period of time.
Akida has agreed to cooperate with Applied UV's due diligence process and not actively pursue parallel alternative sale or financing alternatives for the earlier of the executive of a definitive agreement and March 2, 2021.
The Airocide™ system, originally developed for NASA by the University of Wisconsin, is an airborne pathogen killing technology that uses a patented combination of UVC and a proprietary, titanium dioxide based photocatalyst. The Airocide™ technology is clinically proven and field tested to kill/remove/eliminate airborne pathogenic and non-pathogenic microorganisms, allergens, odors and harmful VOC's in a variety of applications and industries including healthcare, hospitality, grocery chains, wineries, commercial real estate, schools, dental offices, cannabis, and homes. Airocide™ has been featured on "CNN", "Fox News Networks", "Maxim" and "The Ellen Show". The Airocide™ technology is widely accepted and is currently used by nationally recognized brands such as "Whole Foods", "Delmonte", "Dole", "Chiquita", "Opus One" "Sub-Zero Refrigerators" and "Robert Mondavi Wines" to name a few.
The potential acquisition is exploratory and is subject to, among other things, the completion of due diligence, approval of the two companies' boards, the negotiation and execution of a definitive agreement providing for the transaction, and satisfaction of any conditions negotiated therein. Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated. For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/ https://sterilumen.com/ https://munnworks.com/
Other biotech news of note in the markets include:
INOVIO (NASDAQ: INO) recently announced that the U.S. Food and Drug Administration (FDA) has notified the company it has additional questions about the company's planned Phase 2/3 trial of its COVID-19 vaccine candidate INO-4800, including its CELLECTRA® 2000 delivery device to be used in the trial. Until the FDA's questions have been satisfactorily addressed, INOVIO's Investigational New Drug Application (IND) for the Phase 2/3 trial is on partial clinical hold. The company is actively working to address the FDA's questions and plans to respond in October, after which the FDA will have up to 30 days to notify INOVIO of its decision as to whether the trial may proceed.
Moderna, Inc. (NASDAQ: MRNA) recently confirmed that the Ministry of Health, Labour and Welfare of Japan (MHLW) and Takeda Pharmaceutical Co., Ltd (NYSE: TAK) have agreed to purchase and distribute 50 million doses of mRNA-1273, Moderna's vaccine candidate against COVID-19, to support Japan's aim of providing vaccines to the Japanese public as soon as possible, subject to necessary regulatory approvals. Moderna is responsible for the manufacture and supply of Moderna's vaccine candidate, and Takeda, with the support of the MHLW, the Japan Agency for Medical Research and Development (AMED) and Moderna, is responsible for all import, local regulatory, development and distribution activities in Japan to ensure timely access starting during the first half of 2021.
"We thank the MHLW and Takeda for their support and for partnering with us to bring mRNA-1273, our vaccine candidate against COVID-19, to Japan. We appreciate the confidence of the MHLW in Moderna and mRNA-1273, which we hope will help address the pandemic, especially given the encouraging data we have recently published together with the NIH related to the clinical trial in the elderly and older adult population," said Stéphane Bancel, Moderna's Chief Executive Officer. "We look forward to our expected first review of our interim efficacy data, which is expected in November."
Pfizer Inc. (NYSE: PFE) and Ionis Pharmaceuticals, Inc. and its wholly owned subsidiary Akcea Therapeutics, Inc., this week announced that Pfizer has initiated a Phase 2b study of vupanorsen (AKCEA-ANGPTL3-LRx) in statin-treated patients with elevated non-high-density lipoprotein cholesterol (non-HDL-C) and triglycerides (TGs). The study, Targeting ANGPTL3 with an antisense oligonucleotide in adults with dyslipidemia (TRANSLATE-TIMI 70), will evaluate various doses of vupanorsen to inform potential future development.
In the Phase 2a study, vupanorsen met the primary endpoint of significant reductions in TG levels and multiple secondary endpoints compared to placebo, with a favorable safety and tolerability profile.
Novavax, Inc. (NASDAQ: NVAX) recently announced the expansion of its Maryland campus to accommodate the company's rapid growth as it works to develop its candidate vaccine against COVID-19 and advance its influenza vaccine for global markets. Novavax has secured two additional properties in Gaithersburg, Maryland to support the Company's immediate need for additional laboratory and office space for manufacturing, R&D and business operations.
The Company currently has a large pivotal Phase 3 trial underway in the UK with another slated to begin in the United States and Mexico in November, as well as several Phase 2 trials ongoing and in the planning phases around the globe. Novavax has also created a global production network to enable manufacturing and rapid distribution across the U.S., Asia and Europe if and when its COVID-19 vaccine is approved for use. The Company also reported positive Phase 3 data for its influenza vaccine candidate, NanoFlu, earlier this year. Novavax has received $2 billion in funding for its COVID-19 vaccine efforts, including up to $1.6 billion from the U.S. government to help address the global pandemic and up to $388 million from the Coalition for Epidemic Preparedness Innovations (CEPI).
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty six hundred dollars for news coverage of the current press release issued by Applied UV, Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: firstname.lastname@example.org