Nov 30, 2017

Semma raises $114 million for Type 1 diabetes treatment

Bob Herman

Semma Therapeutics is looking to cure Type 1 diabetes. Photo: Nam Y. Huh

Semma Therapeutics has raised $114 million in a new funding round that will help the biotech startup test its novel treatment for Type 1 diabetes in humans. Cowen, which just financed $108 million for its health care venture capital fund, co-led the round with Eight Roads Ventures.

Why it matters: If Semma succeeds with its research and technology — which uses stem cells to generate insulin-producing cells — it would create a breakthrough medicine for people who have Type 1 diabetes, which is rarer than Type 2 and cannot be prevented.

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 5 p.m. ET: 657,691 — Total deaths: 30,438 — Total recoveries: 139,263.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 5 p.m. ET: 119,748 — Total deaths: 1,991 — Total recoveries: 921.
  3. Federal government latest: President Trump is considering a quarantine on New York, parts of New Jersey and Connecticut. He signed a $2 trillion stimulus bill to give businesses and U.S. workers financial relief.
  4. State updates: Alaska is latest state to issue a stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month and has moved its presidential primary to June 23. Some Midwestern swing voters that supported Trump's handling of the virus less than two weeks ago are now balking at his call for the U.S. to be "opened up" by Easter.
  5. World updates: In Spain, over 1,400 people were confirmed dead between Thursday to Saturday.
  6. 🚀 Space updates: OneWeb filed for bankruptcy amid the novel coronavirus pandemic.
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Infant dies after testing positive for coronavirus in Chicago

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An infant less than one year old died in Chicago, Illinois after testing positive for the novel coronavirus, the state health department said on Saturday.

Why it matters: The death would mark the first reported infant mortality from COVID-19 in the U.S. The fatality rate for the novel coronavirus in the U.S. is highest among those over 85 years old, per the CDC.

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Trump weighs quarantine of New York, New Jersey, Connecticut

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

President Trump said on Saturday he is considering a "short term" quarantine of New York, New Jersey and parts of Connecticut — states that have already taken steps to quarantine residents and promote social distancing.

The big picture: With 112,000 people infected, the U.S. has the most COVID-19 cases in the world, exceeding China and Italy, per data from Johns Hopkins. A second wave of American cities, including Boston, Detroit, New Orleans and Philadelphia, are reporting influxes of cases.

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