Over the years, the adoption of cloud computing in healthcare has increased owing to the rising need to curtail healthcare costs and improve the quality of healthcare and convenience for the patients. The healthcare industry often utilizes software as a service (SaaS) to increase software versatility and accessibility without having to install and run applications on multiple computers and data systems. SaaS is currently dominating the cloud computing market, especially in the healthcare industry, and as time goes by, it will only become more prevalent, according to industry observers. A recent report from one such observer, MarketsAndMarkets said that the market for healthcare cloud computing is expected to grow from USD 28.1 billion in 2020 to USD 64.7 billion by 2025, at a CAGR of 18.1% during the forecast period. Growth in the healthcare cloud computing market can be attributed to factors such as technological upgradation in healthcare industry, increasing focus on healthcare digitization and increasing deployment of cloud-based HCIT solutions by healthcare providers to improve the care process. Active companies in the markets this week include: GeoVax Labs, Inc. (NASDAQ: GOVX), ITOCO INC. (OTCPK: ITMC), AstraZeneca PLC (NASDAQ: AZN), Vir Biotechnology, Inc. (NASDAQ: VIR), Moderna, Inc., (NASDAQ: MRNA).
The report added: “The COVID-19 outbreak, has upended many lives and businesses on an unprecedented scale. However, if there is one sector that has emerged stronger from this event, it would be the cloud computing industry. While many organizations are finding it difficult to run smoothly, the companies that opted for cloud computing infrastructure are functioning well. Cloud computing assists in hassle-free data storage and backup because of its scalability, and also enables one to scale back during hectic days. Moreover, the social distancing measures have mandated patients with mild symptoms to opt for remote consultation. With many healthcare providers giving consultation over video conferencing and phone calls, in place of this pandemic, the growth of healthcare cloud computing market is likely to augment considerably over the forecast period.”
ITOCO INC. (OTCPK: ITMC) BREAKING NEWS: ITOCO completes Immutable Virus Test Result secure web application – ITOCO has successfully developed and deployed a secure software-as-a-service (SaaS) web-based application for administering the Immutable Virus Test Result Verification System and has made it available at ImmutableTest.com. This new development, combined with the previously announced deployment of the blockchain smart contract, demonstrates the rapid progress the company is making at commercializing this important patent-pending technology.
Key features of the web-based application include that it:
>> Enables System Administrators to add anonymized Users to the blockchain to be updated by Virus Testing Systems that are whitelisted
>> Enables System Administrators to whitelist Virus Testing Systems to enable them to update virus test result data for users on the blockchain
>> Provides a user interface for customers for displaying user and test result data from the blockchain as easy-to-read tables
“The ImmutableTest.com application represents an accelerated step forward in bringing this patent-pending technology to market quickly,” said Greg Marlin, CEO/CTO of DATANet Corp and developer of the application. “The next step in commercializing this technology is the development of the user-facing mobile application, which combines both blockchain and biometric technologies. Development has already started on this for both Android and iOS and we expect to be able to make an announcement on that shortly.”
“This latest technology release demonstrates our continued commitment to commercializing our technology portfolio. This web-based application technology will form an important foundation for future releases to come.” said Michael Paul, CEO of ITOCO. Read more about ITMC at: https://www.itoco.net/
Other recent developments in the markets include:
GeoVax Labs, Inc. (NASDAQ: GOVX) recently announced the signing of a Patent and Biological Materials License Agreement (the “License Agreement”) with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), in support of GeoVax’s development of a vaccine against SARS-CoV-2, the virus that causes COVID-19. The Patent License Agreement to GeoVax includes access to NIAID’s patent rights in the stabilized SPIKE protein, which is the protein that SARS-CoV-2 uses to gain entry into human tissue.
The License Agreement allows GeoVax to use these materials and patent rights owned by agencies of the United States Department of Health and Human Services (HHS) in combination with the Company’s proprietary technology for the creation of a preventive Modified Vaccinia Ankara Virus-Virus Like Particle (MVA-VLP) vaccine that primes and/or boosts the immune system against COVID-19. The agreement provides GeoVax with nonexclusive rights to develop, manufacture and commercialize its COVID-19 vaccine. Financial terms of the License Agreement were not disclosed.
AstraZeneca PLC (NASDAQ: AZN) recently announced AstraZeneca’s TAGRISSO® (osimertinib) has received acceptance for its supplemental New Drug Application (sNDA) and has also been granted Priority Review in the US for the adjuvant treatment of patients with early-stage (IB, II and IIIA) epidermal growth factor receptor-mutated (EGFRm) non-small cell lung cancer (NSCLC) after complete tumor resection with curative intent.
While up to 30% of all patients with NSCLC may be diagnosed early enough to have potentially curative surgery, disease recurrence is still common in early-stage disease and nearly half of patients diagnosed in Stage IB, and over three quarters of patients diagnosed in Stage IIIA, experience recurrence within five years.
Vir Biotechnology, Inc. (NASDAQ: VIR) recently announced the presentation of preclinical and Phase 1 data demonstrating the broad neutralizing ability, high-level effector function, extended half-life and tolerability of VIR-2482 in the prevention of influenza A. The Company also released new health economics outcomes research, which shows that elderly adults with comorbidities suffer more severe consequences of influenza. The data will be presented at IDWeek 2020, which takes place virtually Oct. 21-25.
“Despite widespread influenza vaccination, the elderly in the U.S. have a high risk of hospitalization and incur significantly higher healthcare costs,” said Phil Pang, M.D., Ph.D., chief medical officer of Vir Biotechnology. “The data presented at IDWeek quantify the magnitude of the urgent need for a universal influenza A-neutralizing monoclonal antibody with high efficacy. The data also suggest that VIR-2482, because of its broad influenza A strain coverage, potency and prolonged half-life, has the potential to be the first neutralizing monoclonal antibody to address this large unmet need.”
Moderna, Inc., (Nasdaq: MRNA) a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines to create a new generation of transformative medicines for patients, recently announced a supply agreement with the Ministry of Public Health of Qatar for mRNA-1273, Moderna’s vaccine candidate against COVID-19, to support the Ministry’s ongoing efforts to secure early access to a safe and effective COVID-19 vaccine for the people of Qatar.
“We appreciate the confidence of the Ministry of Health of Qatar in our mRNA vaccine platform and the collaboration we have had to date,” said Stéphane Bancel, Moderna’s Chief Executive Officer. “We are advancing the clinical development of mRNA-1273 with our Phase 3 COVE study, which is now fully enrolled with a representative demography of participants across ages, ethnicities and high-risk populations. In parallel we are scaling up our manufacturing capability with our strategic partners, Lonza and Rovi, to address this global health emergency by delivering a safe and effective vaccine to the people of Qatar and around the world.”