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Coronavirus therapeutic breakthrough: FDA approves emergency use of convalescent plasma treatment for COVID-19 patients

The deadly coronavirus, that started in Wuhan, China in December 2019 has so far claimed over 800,000 lives worldwide with over 180,000 deaths in the US alone. As the race for the vaccines continues, today, the FDA announced the emergency […]

The post Coronavirus therapeutic breakthrough: FDA approves emergency use of convalescent plasma treatment for COVID-19 patients appeared first on Tech News | Startups News.

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The deadly coronavirus, that started in Wuhan, China in December 2019 has so far claimed over 800,000 lives worldwide with over 180,000 deaths in the US alone. As the race for the vaccines continues, today, the FDA announced the emergency use authorization (EUA) of convalescent plasma treatment for Covid-19 patients. It comes with 35 percent reduction of Covid-19.

The EUA allows the expand the use of convalescent plasma for Covid-19 patients. Over 100,000 Americans have already enrolled in the treatment. U.S. President Trump made the announcement during a news conference Sunday evening.

In another statement on its website, FDA said:

Today, the U.S. Food and Drug Administration issued an emergency use authorization (EUA) for investigational convalescent plasma for the treatment of COVID-19 in hospitalized patients as part of the agency’s ongoing efforts to fight COVID-19. Based on scientific evidence available, the FDA concluded, as outlined in its decision memorandum, this product may be effective in treating COVID-19 and that the known and potential benefits of the product outweigh the known and potential risks of the product.

The EUA authorizes the distribution of COVID-19 convalescent plasma in the U.S. and its administration by health care providers, as appropriate, to treat suspected or laboratory-confirmed COVID-19 in hospitalized patients with COVID-19.

Convalescent plasma has been used throughout history when confronting an infectious disease where you have people who recover and there’s no other therapy available. Convalescent plasma interacts differently with the immune system than a vaccine. When a person is treated with a vaccine, their immune system actively produces its own antibodies that will kill off any future encounters with the target pathogen. That’s called active immunity.

Unlike vaccines, convalescent plasma interacts differently with the immune system than a vaccine. Convalescent plasma offers what’s the medical experts called “passive immunity.” With convalescent plasma, the body doesn’t create its own antibodies, but instead “borrows” them from people who have recovered from the virus.

When a person is treated with a vaccine, for example, their immune system actively produces its own antibodies that will kill off any future encounters with the target pathogen. That’s called active immunity. Unlike a vaccine, the protection doesn’t last a lifetime, but the borrowed antibodies can greatly reduce recovery times and even be the difference-maker between life and death.

Commenting on the development, Health and Human Services Secretary Alex Azar, said:

“The FDA’s emergency authorization for convalescent plasma is a milestone achievement in President Trump’s efforts to save lives from COVID-19,” said Secretary Azar. “The Trump Administration recognized the potential of convalescent plasma early on. Months ago, the FDA, BARDA, and private partners began work on making this product available across the country while continuing to evaluate data through clinical trials. Our work on convalescent plasma has delivered broader access to the product than is available in any other country and reached more than 70,000 American patients so far. We are deeply grateful to Americans who have already donated and encourage individuals who have recovered from COVID-19 to consider donating convalescent plasma.”


Source: https://techstartups.com/2020/08/23/coronavirus-therapeutic-breakthrough-fda-approved-emergency-use-of-convalescent-plasma-treatment-for-covid-19-patients/

Startup

SK Hynix is buying Intel’s NAND business for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings

Semiconductor giant Intel Corp has agreed to sell its NAND memory chip business to South Korean chipmaker SK Hynix for $9 billion in an all-cash deal. It is the biggest acquisition to date for SK Hynix and follows its $3.7 […]

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Semiconductor giant Intel Corp has agreed to sell its NAND memory chip business to South Korean chipmaker SK Hynix for $9 billion in an all-cash deal. It is the biggest acquisition to date for SK Hynix and follows its $3.7 billion investment in Japanese rival Kioxia in 2017. When finalized, the deal would propel the South Korean chipmaker to second in the global rankings, according to a report from Reuters.

Founded in 1983 as Hyundai Electric Industry, SK Hynix is the world’s second-largest memory chipmaker (after Samsung Electronics) and the world’s 3rd-largest semiconductor company. SK Hynix is also a memory semiconductor supplier of dynamic random-access memory (DRAM) chips and flash memory chips.

The move marks the latest effort by the U.S. chip giant to divest its non-core businesses, move away from the volatile commodity NAND chip industry and focus on its remaining Optane memory business, which is smaller but more lucrative because it taps more advanced technology.

SK Hynix has tried to boost its capacity to build NAND chips – used to store data in smartphones and data center servers – and beef up its pricing power. The deal will help SK Hynix overtake Kioxia in the NAND memory market while narrowing the gap with market leader Samsung Electronics Co

Sk Hynix memory is used by Apple in some of their iMac, MacBook, and MacBook Pro computers. Apple’s A9 chipset is on board together with an SK Hynix RAM module believed to be “likely the same 2 GB LPDDR4 mobile DRAM found in the iPhone 6s.

Sk Hynix memory is also used by Asus in their Google-branded Nexus 7 tablets. Sk Hynix is also an OEM provider for IBM System x servers, and is used in desktop PCs and laptops as well as the Asus Eee PC, Dell, and HP. Sk Hynix’s memory chips are also used in DVD players, cellular phones, set-top boxes, personal digital assistants, networking equipment, and hard disk drives.


Source: https://techstartups.com/2020/10/20/sk-hynix-buying-intels-nand-business-9-billion-cash-deal-propel-south-korean-chipmaker-second-global-rankings/

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Junio, A Kids Fintech Startup by Former Paytm Executives

Junio is a smart card that allows digital and physical purchases to kids. As per the website, the credit card imparts financial discipline to children. It is similar to FamPay (1), backed by Y-Combinator.   Moreover, parents can control the smart card via an app to make in-app task lists and tie them with perks. It […]

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Junio is a smart card that allows digital and physical purchases to kids. As per the website, the credit card imparts financial discipline to children. It is similar to FamPay (1), backed by Y-Combinator.  

Moreover, parents can control the smart card via an app to make in-app task lists and tie them with perks. It also allows instant fund transfer, notifications, and flexibility to cancel the card at any time with the app. 

The app may go live in the upcoming weeks from now, according to the sources. 

With Junio, Nath and Gera have also joined the list of former Paytm executives who have embarked on an entrepreneurial path. It includes Amit Bagaria, Amit Lakhotia, Saurabh Vashishtha, Deepak Abbot, Amit Sinha, and Nitin Misra. 

Amit Bagaria and Vashishtha have launched a social, commercial platform SimSim, whereas Amit Lakhotia has launched a parking app called Park+. Nitin Mishra and Deepak Abbot have launched a fintech app called Indiagold. Notably, these executives have made a massive fortune via the Paytm ESOPs. 

Junio is Set to Compete with FamPay in India in the kids’ Fintech Sector.

According to the sources, Nath and Gera are not looking to secure funds anytime soon.

Nath served Paytm as a CMO or Chief Marketing officer from December 2013 to November 2018, about five years. After departing from Paytm, he took leave for two years. At the same time, Gera spent more than four and a half years at the firm. 

Even though the kids-focused fintech sector is still at a nascent stage in the country, Junio is set to compete with FamPay backed by Sequoia. FamPay was launched in early 2019 and had already raised 4.7 million USD in a seed funding round led by Y-Combinator, Global Founders Capital, and Sequoia India. 

Several startups from the US and other western countries have evangelized kids-focused fintech and neo-banks. However, it is still a new concept in India. Greenlight, a startup based in Atlanta, USA, is one of space’s early entrants. It started smart cards that focused on kids in 2017 and has recently turned into a unicorn with 250 million USD capital from TTV Capital, Canapi Ventures, DST, and others. 

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She’s currently working as a content writer and is always interested in a challenge.

Source: https://timesnext.com/junio-a-kids-fintech-startup-by-former-paytm-executives/

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SAIF Partners is Now Elevation Capital, Bags 400M USD

SAIF Partners has now rebranded itself as Elevation Capital (1) and raised 400 million USD in the new fund. Notably, it is the seventh funding for the firm for early-stage startups in India. Previously, it secured two funds, each worth of 350 million USD in size. Today, it is managing over 2 billion USD assets.  […]

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SAIF Partners has now rebranded itself as Elevation Capital (1) and raised 400 million USD in the new fund. Notably, it is the seventh funding for the firm for early-stage startups in India. Previously, it secured two funds, each worth of 350 million USD in size. Today, it is managing over 2 billion USD assets. 

The firm started investing in the startups of India 18 years ago after beginning its journey as a joint venture with Softbank. The first high-profile investment by the entity was Sify. 

While talking about the development, Ravi Adusumalli, the managing Partner of SAIF Partner, stated that the two firms’ joint venture ended decades ago. Hence, it is making a move to rebrand itself.

Notably, SAIF Partners has seven unicorns in its portfolio. It includes One97, the parent firm of Paytm, Communications, Swiggy, and Unacademy

SAIF Partners Continues to Make Commitments Amid Rebranding Itself

Adusumalli further added that the elevation indicates the investment ethos and re-emphasize the team’s commitment towards founders to redefine our future. Moreover, it is also a commitment to our partners for continued collaborations. With the rebranding, the group promises to do everything they can to achieve incredible lengths from day one. 

It is worth noting that SAIF Partners has backed over 100 startups since its inception. The firm makes long-term chances with founders and backs early-stage startups when securing their pre-seed, seed, pre-series A, and Series A fundraise. 

Moreover, the venture invests in a broad range of sectors and is looking to continue its strategy to add more interest areas, stated the Managing Director of Elevation Capital, Deepak Gaur. 

Deepak added that the firm is spending a lot of resources on SaaS enterprises. The team believes that many global companies would emerge from India in this sector. 

SAIF Partners has over 15 startups in its portfolio, estimated to become a unicorn in the upcoming years. It includes Urban Company, Acko, Capital Float, and NoBroker. Besides, several startups backed by SAIF Partners such as IndiaMART, JustDial, MakeMyTrip have already become publicly listed companies.   

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She’s currently working as a content writer and is always interested in a challenge.

Source: https://timesnext.com/saif-partners-is-now-elevation-capital-bags-400m-usd/

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