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USA Today
3 days ago
- Health
- USA Today
Jerome Adams, ex-Trump surgeon general, says mRNA vaccine cuts are 'going to cost lives'
Jerome Adams, the U.S. Surgeon General under President Trump 's first term, criticized the Department of Health and Human Services ' move this week to cut funding for mRNA vaccine development. "I've tried to be objective & non-alarmist in response to current HHS actions – but quite frankly this move is going to cost lives," Adams said in a post on X on Aug. 5. He added, "mRNA technology has uses that go far beyond vaccines… and the vaccine they helped develop in record time is credited with saving millions." The HHS, now being led by Secretary Robert F. Kennedy Jr., said in a release on Aug. 5 it is cutting nearly $500 million at the Biomedical Advanced Research and Development Authority, which helps develop mRNA vaccine technology. Kennedy called the vaccine technology "ineffective" in a video posted on X Aug. 5. Messenger RNA, or mRNA, is used in the two most common COVID-19 vaccines licensed in the United States, which were developed by Pfizer-BioNTech and Moderna during Trump's first administration and Adams' tenure as surgeon general. How do mRNA vaccines work? The COVID-19 vaccine works by instructing the body's immune system to recognize the virus and creating fighting antibodies to attack it. Messenger RNA, or mRNA, is a code that tells the body's cells to produce just a piece of the virus, the protein on the surface. The code is protected by a lipid coating, like a fat bubble. Once injected into the body, the vaccine releases the mRNA to program the cell to produce the spike proteins like those on the surface of SARS-CoV-2, the COVID-19 virus. Our immune system recognizes those vaccine-created spike proteins as invaders and creates antibodies to block future attacks from the virus. Messenger RNA vaccines contain only a fraction of the virus, so unlike some vaccines, they can't give people the disease they're trying to prevent or trigger allergies to eggs or other traditional vaccine ingredients. What does defunding mRNA technology mean? The most obvious consequence of defunding mRNA vaccine development is losing resources to continue improving the technology for vaccines that target infectious diseases, such as COVID-19 and the bird flu, and cancers, said Jeff Coller, Bloomberg Distinguished Professor of RNA biology and therapeutics at Johns Hopkins University. However, he also said it sends a 'chilling' message to vaccine companies about continuing this type of research in the United States. While they may be able to afford research without federal help, companies could be hesitant to pursue mRNA technology if there's a chance the Food and Drug Administration may not approve their vaccines. This could lead companies to move operations and marketing to other countries, which would not only make these therapies more expensive in the United States, but also displace it as 'the world leader in biotechnology,' Coller said. 'The rest of the world is doubling down on mRNA medicines. It's a fact, and the U.S. is going to lose the race,' Coller told USA TODAY on August 6. 'The decision coming from Kennedy is essentially destroying our dominance in the biotech space.'
Axios
17-06-2025
- Business
- Axios
It's a bad time to launch first-time funds, but that isn't stopping investors
Conventional wisdom is that now is a terrible time for private market investors to launch first-time funds. But that isn't stopping a slew of folks from trying. The big picture: Limited partners are seeing a wave of general partners spinouts, and many expect that the trend will outpace industry consolidation, according to a recent Coller Capital survey. One major reason, they say, is that firms have done a lousy job nurturing homegrown talent. Coller's questionnaire didn't go a level deeper, but it's not too hard to read "tilted fund economics" in that response. Everyone inside a firm knows who brings in the home run deals, and if that rainmaker doesn't get compensated like one. By the numbers: 38% of LP respondents said they expect the number of new managers to increase over the next three to five years, compared to just 33% who say they expect it to decrease. The "increase" cohort was particularly strong among Asia-Pacific respondents (64%). Coller also found that 36% of LPs report the number of spinout funds within their portfolio has increased within the past few years, while only 3% said it's decreased. The majority said it's remained flat. Zoom out: Raising a first-time fund is never easy, and many believe the process has become even more challenging as LPs have sought to shrink their manager rosters — preferring to plug larger amounts into multi-strategy firms. Plus the VC/PE distribution drought that's reduced the amount of available LP capital. On the other hand, LPs also worry that too much mega-fund exposure won't allow them to beat industry benchmarks — which means many are willing to bet on a few emerging managers to provide alpha. What they're saying: "It's like the old phrase: people hate Congress but love their congressperson," a veteran LP tells me. "A lot of people are super risk averse (and liquidity crunched) right now, making emerging funds a challenge to raise, but known quantities de-risk the decision for those who are able to put out capital."
Yahoo
29-03-2025
- Business
- Yahoo
Australia's $1 Trillion Market Draws Coller Capital
(Bloomberg) -- Coller Capital Ltd., a UK fund manager specializing in private market secondaries, is expanding in Australia with the launch of several funds targeting wealthy locals. Why Did the Government Declare War on My Adorable Tiny Truck? Gold-Rush Fever Returns to Historic New Zealand Mining Town How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes The firm, which manages $38 billion, has launched two secondary feeder funds — Coller Private Capital Secondaries Fund and Coller Private Equity Secondaries Fund, said David Hallifax, head of Australia and New Zealand private wealth distribution in an interview. Both products target Australian investors keen to diversify investment portfolios away from the public space, Hallifax added. Coller joins a growing list of asset managers promoting private investment vehicles to wealthy individuals in Australia, a market that's worth over $1 trillion, according to one estimate. Firms including Ares Management Corp., Brookfield Oaktree Wealth Solutions and Nuveen LLC have launched similar products as a hedge against a possible stock market slump. Such loans are able to offer high returns in a period of elevated interest rates. Coller's private credit funds have around 3,500 loans, said Hallifax. 'So if one of the loans was to be distressed, it's not going to have really any bearing on the end investor's return profile,' he said. The Coller Private Credit Secondaries Fund is targeting net returns of between 11% to 13%, while the Coller Private Equity Secondaries Fund is offering 13% to 15% after fees, said Hallifax. The minimum investment amount for each fund is A$25,000 ($15,718) and they are distributed through Australian financial advisers, private banks and wealth managers, he said. Coller is also growing in Asia, particularly in private wealth. The firm recently hired Pak-Seng Lai from Blue Owl Capital to head up its Asia Pacific wealth team in Hong Kong and established a Singapore office. (Corrects name of Coller Private Credit Secondaries Fund and targeted net return in fifth paragraph of story published on March 27.) Business Schools Are Back Google Is Searching for an Answer to ChatGPT Israel Aims to Be the World's Arms Dealer A New 'China Shock' Is Destroying Jobs Around the World The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? ©2025 Bloomberg L.P. Sign in to access your portfolio
