Latest news with #Sirius
Yahoo
16 hours ago
- Business
- Yahoo
Oil and Gas Investment in Colombia Sees Uptick Despite Hurdles
In recent years, Colombia's oil production and reserves have been in decline and interest in investing in the country's crude seemed limited in the post-pandemic landscape. In addition, President Petro has been vocal about supporting a green transition and restricting investment in new fossil fuel projects. However, in recent months, there has been a renewed interest in developing exploration and production. Colombia has long relied on its fossil fuel revenues to support the national economy, with oil and gas contributing around 10 percent of the GDP and 20 percent of exports. State-owned Ecopetrol is responsible for around 64 percent of Colombia's oil and gas production and owns 100 percent of its refining capacity. In 2021, Colombia produced an average of 736,400 bpd of crude, a figure which grew to 753,750 bpd in 2022, with crude reserves of 1.8 billion barrels as of January 2022. In 2021, Colombia was South America's second-largest petroleum and other liquids producer after Brazil. In 2025, Colombia has plans to develop both its onshore and offshore oil and gas resources, as well as invest in green energy. Ecopetrol and Brazil's Petrobras are expected to continue exploration and appraisal drilling at the offshore Sirius prospect this year. The companies estimate that the area contains potential gas reserves of 6.1 trillion cubic feet (Tf3), with the first production expected by 2030. Investment in the area is expected to reach up to $5 billion. Ecopetrol is also developing the Papayuela area, which the company says could provide up to 80 percent of Colombia's gas needs. It is expected to take between five and seven years to develop and could produce up to 800 million f3/d. Onshore, Canada's NG Energy expects gas output to increase to 130 million f3/d by the end of 2025 in Colombia's Sinu-9 area in Cordoba. The company plans to construct two additional pipelines during the second phase of the project, as well as drill three exploration wells. It also hopes to increase output from its Maria Conchita block in the La Guajira region. Plans to improve Colombia's pipelines are also underway, with a two-way pipeline between Barranquilla and the Ballena gas field being developed. The developer, Promigas, is expected to invest around $75 million in the pipeline, which will transport up to 170 million f3/d from August 2027. The government's IPAT gas infrastructure expansion programme is also expected to support improvements to the Mariquita-Gualanday, Jamundí-Valle del Cauca and Barrancabermeja-Ballena pipelines. In late May, Colombia's leading industry group, the Colombian Oil and Gas Association (ACP), said that investment in fossil fuel exploration and production could increase by around 8 percent this year, to reach $4.68 billion, compared to $4.33 billion in 2024. This is expected to maintain Colombia's current crude output, although it is not expected to prevent a fall in gas production. The ACP expects around $740 million to be invested in exploration activities this year, and a further $3.94 billion to go towards production, to keep output at around 760,000 to 770,000 bpd. However, it expects gas output to fall to around 905 million f3/d, compared to 959 million f3/d in 2024. ACP President Frank Pearl stated, 'Today more investment is required to produce the same amount of oil, due to the natural depletion of the fields and the complexity of the operating environment.' Meanwhile, 'For gas, we are not managing to either increase production or replenish reserves, which is double the challenge when it comes to energy self-sufficiency.' While it strives to maintain a steady oil and gas output, Ecopetrol has faced widespread criticism for its failure to manage pollution levels effectively. In March, it was widely reported that Ecopetrol had polluted hundreds of sites with oil, including water sources and biodiverse wetlands. A former employee of the oil firm leaked data including over 800 records of polluted sites from 1989 to 2018, which suggested that the company failed to report around a fifth of the sites. The BBC also found that Ecopetrol has spilt oil hundreds of times since these instances. While Ecopetrol says it complies with national standards and follows sustainability practices, fishermen and rural communities have criticised the company for causing widespread pollution in fossil fuel production areas. Colombia is also investing heavily in a green transition, which could help it to leave its dirty fossil fuel record in the past. In October, the government launched a new $40-million investment plan for an energy transition, aimed at shifting away from a reliance on fossil fuels. The plan included funding for nature conservation, as well as clean energy projects and plans for the electrification of transport. Colombia continues to rely heavily on its oil and gas revenues. However, keeping production levels up has become more challenging in recent years, due to low levels of foreign investment and rapidly depleting oil fields. While Ecopetrol plans to invest heavily in exploration and production in 2025, oil production is expected to remain flat while gas production is likely to fall. Meanwhile, greater investment in green energy projects could help Colombia gradually shift away from a reliance on fossil fuels to shift to renewable alternatives. By Felicity Bradstock for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News24
2 days ago
- Business
- News24
JSE-listed Sirius gears up to tap into European defence boom
Sirius CEO Andrew Coombs Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your mind and heart with our FREE 14-day subscription trial. Dive into a world of inspiration, learning, and empowerment. You can only trial once. Start your FREE trial now
Yahoo
21-05-2025
- Business
- Yahoo
CRISPR Therapeutics AG (CRSP) Strikes $95M Deal with Sirius to Develop Blood Clot Drug
CRISPR Therapeutics AG (NASDAQ:CRSP) has entered a $95 million upfront partnership with China-based Sirius Therapeutics to co-develop an siRNA drug targeting blood clotting disorders. This marks a strategic shift for CRISPR, traditionally focused on gene editing, recognizing that siRNA's reversible gene silencing offers advantages for some conditions where permanent DNA edits are risky, such as inhibiting factor XI, a clotting protein, where gene editing could cause bleeding complications. A scientist in a laboratory working on a gene editing tool, to create treatments for rare genetic diseases. Under the deal, CRISPR Therapeutics AG (NASDAQ:CRSP) will pay $25 million upfront plus a $70 million equity investment in Sirius. Both companies will share development costs and profits equally, with CRSP handling U.S. commercialization and Sirius covering Greater China. The siRNA drug, SRSD107, showed promising Phase 1 results by reducing factor XI levels up to 95% and is advancing toward a Phase 3 trial by late 2026. CRISPR Therapeutics AG (NASDAQ:CRSP)'s CEO, Samarth Kulkarni, highlighted the complementary nature of siRNA and gene editing, stating siRNA's quicker regulatory path accelerates commercialization compared to gene editing's longer timeline. The company retains excitement about its CRISPR-based cardiovascular programs, including ANGPTL3 and lipoprotein(a) gene edits, but is open to licensing more siRNA assets from Sirius. This diversified approach aims to build a best-in-class cardiovascular franchise by applying the most appropriate technology for each target. Shortly after, Piper Sandler analyst Raghuram Selvaraju maintained an Overweight rating on CRISPR Therapeutics AG (NASDAQ:CRSP) with a $50 price target, citing the Sirius collaboration as a potential near-term revenue catalyst. While we acknowledge the potential of CRSP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRSP and that has 100x upside potential, check out our report about this READ NEXT: and Disclosure: None. Sign in to access your portfolio
New York Post
20-05-2025
- Health
- New York Post
Renowned oncologist questions Joe Biden's prostate cancer diagnosis timeline – and when treatments possibly started: ‘Doesn't make any sense'
A leading oncologist questioned the timeline of former President Biden's prostate cancer diagnosis, particularly the claim by his doctors that his form of the disease was 'hormone sensitive,' which they said allows for more effective treatment. Speaking on SiriusXM's 'The Megyn Kelly Show,' urology and prostate physician, Dr. David B. Samadi questioned how Biden's doctors could know this unless the 82-year-old was already undergoing cancer treatment. 'A week ago, they had the prostate nodule. Within a week they did the biopsy and got the disease, so very quickly – based on the story they're telling – they've been able to do the staging part to find out if the cancer has spread to the bone or not,' he said. Dr. David B. Samadi questioned how doctors could know that Biden's cancer was 'hormone sensitive' unless he was already undergoing cancer treatment. Sirius 'But you have to give the injections and see if the patient responds. We don't know what his PSA is,' he said, referring to the score for the Prostate-Specific Antigen test — a critical diagnostic for prostate cancer patients. Follow the latest on Joe Biden's prostate cancer diagnosis: 'If the PSA starts to go down, that's when you know he's hormone sensitive. I don't know how they'd be able to give all of this information from diagnosis to treatment to all of that within one week. The story doesn't make any sense.' Another urologic oncologist told The Post that '98-99% if not more' of prostate cancers are sensitive to hormone therapy, 'because testosterone is the fuel by which prostate cancer grows.' US President Joe Biden looks on after he delivered his farewell address to the nation from the Oval Office of the White House on January 15, 2025 in Washington, DC. Getty Images 'For a patient who's newly diagnosed with prostate cancer, if we put them on one of the hormone-suppressing medications, we expect their PSA to decline,' said Manish Vira, Chief of Urology at Northwell Health Cancer Institute. 'We expect the cancer to shrink, because virtually all prostate cancers are sensitive to testosterone.'
Business Upturn
19-05-2025
- Business
- Business Upturn
CRISPR Therapeutics and Sirius Therapeutics Announce Multi-Target Collaboration to Develop Novel siRNA Therapies
-Collaboration brings together complementary capabilities to co-develop and co-commercialize SRSD107, a next generation, long-acting Factor XI (FXI) small interfering RNA (siRNA) for the treatment of thromboembolic disorders- -SRSD107 demonstrated peak reductions in FXI activity >93% and increases in activated partial thromboplastin time (aPTT) >2x with maintained efficacy up to 6 months post-dosing in a Phase 1 clinical trial- -Under the agreement, CRISPR Therapeutics will make an upfront payment of $25 million in cash and $70 million in equity to Sirius Therapeutics; CRISPR Therapeutics also has rights to exclusively license up to two additional siRNA programs- -Expands CRISPR's therapeutic toolkit to develop a broader range of transformative gene-based medicines in addition to the gene-editing programs in the clinic- ZUG, Switzerland and BOSTON and SAN DIEGO and SHANGHAI, May 19, 2025 (GLOBE NEWSWIRE) — CRISPR Therapeutics (NASDAQ: CRSP), a biopharmaceutical company focused on creating transformative gene-based medicines for serious diseases, and Sirius Therapeutics, a clinical stage biotech company developing innovative small interfering RNA (siRNA) therapies for global markets, today announced a strategic partnership to develop and commercialize siRNA therapies. 'We are excited to partner with Sirius, and broaden our cardiovascular medicine portfolio, on the heels of promising top-line data that we recently shared for CTX310, which targets ANGPTL3,' said Samarth Kulkarni, Ph.D., Chairman and Chief Executive Officer of CRISPR Therapeutics. 'Coagulation Factor XI represents an innovative and highly compelling target for treating thrombotic diseases that affect millions worldwide. SRSD107, which targets Factor XI, has the potential to be a best-in-class therapy, offering infrequent dosing and improved patient outcomes. Sirius' siRNA platform complements our existing capabilities and expands our therapeutic toolkit, enabling us to develop a broader range of transformative gene-based medicines.' 'We are pleased to collaborate with CRISPR Therapeutics, a recognized leader in the development of gene-based medicines,' said Qunsheng Ji, MD, Ph.D. Chief Executive Officer of Sirius Therapeutics. 'Thrombotic diseases represent a significant unmet need, and our promising Phase 1 data highlights the potential of SRSD107 as a best-in-class Factor XI-targeted therapy. Sirius is committed to addressing the needs of these patients, as we work with CRISPR Therapeutics to advance novel siRNA therapies globally.' 'There is a large population of patients who are at risk for potentially life-threatening thromboembolic events due to underlying co-morbid diseases such as malignancy, cardiovascular disease, and hyper-coagulability. A significant percentage of these patients are inadequately treated due to concerns for bleeding risk, or challenges with compliance,' said Christian T. Ruff, M.D., M.P.H., senior investigator of TIMI Group, director General Cardiology, Brigham and Women's Hospital, and associate professor, Harvard Medical School. 'SRSD107 offers the potential for a therapy with lower bleeding risk, infrequent dosing for better compliance, without concerns for renal clearance or drug interactions, and reversibility to further mitigate bleeding risks that could be differentiated from currently available therapies and other Factor XI modalities.' SRSD107 is a next generation, long-acting siRNA designed to selectively inhibit Factor XI (FXI), a key driver of pathological thrombosis with minimal impact on normal hemostasis. By targeting FXI, SRSD107 aims to reduce thrombotic events while minimizing the risk of bleeding – representing a differentiated approach compared to Factor Xa inhibitors. In addition, SRSD107 may offer the potential for reversibility not observed with other anti-Factor XI modalities. The addressable population includes patients with atrial fibrillation, venous thromboembolism (VTE), cancer-associated thrombosis, chronic Coronary Artery Disease (CAD), chronic Peripheral Vascular Disease (PVD), end-stage renal disease requiring hemodialysis, and patients undergoing major orthopedic surgery, where bleeding risk limits existing therapies. The clinical program for SRSD107 includes two promising Phase 1 clinical trials, where single doses of SRSD107 were found to be safe and well tolerated. In addition, SRSD107 demonstrated robust pharmacodynamic effects, including reductions of over 93% in FXI levels and FXI activity (FXIa), along with more than a twofold increase in activated partial thromboplastin time (aPTT) relative to baseline. These effects were sustained, with responses maintained for up to 6 months post-dosing. SRSD107 has the potential to be a best-in-class FXI inhibitor, showing deep reductions in FXI via semi-annual subcutaneous injection. Results from the Phase 1 trials were presented at both the 2025 Annual Scientific Sessions of the American College of Cardiology and the 2024 Annual Meeting of the American Society of Hematology. Figure 1. SRSD107 Phase 1 Clinical Results: Sustained, dose-dependent pharmacodynamic response to therapy A Phase 2 clinical trial of SRSD107 is being initiated to evaluate its safety and efficacy for the prevention of VTE in patients undergoing total knee arthroplasty. The trial aims to confirm the anticoagulant benefits of SRSD107 and to inform dose selection for future pivotal trials. Collaboration Details Under the terms of the agreement, CRISPR Therapeutics will make an upfront payment of $25 million in cash and $70 million in equity to Sirius Therapeutics. The companies will jointly develop SRSD107 under a 50-50 cost and profit-sharing structure. CRISPR Therapeutics will lead commercialization in the U.S., while Sirius will be responsible for commercialization in Greater China. Additionally, CRISPR Therapeutics will have the option to nominate up to two siRNA targets for research and development. For each target, CRISPR Therapeutics will fund research and retain opt-in rights to lead clinical development and commercialization. Sirius will be eligible to receive milestone payments, as well as tiered royalties ranging from high single to low-double digits. About CRISPR Therapeutics Since its inception over a decade ago, CRISPR Therapeutics has evolved from a research-stage company advancing gene editing programs into a leader that celebrated the historic approval of the first-ever CRISPR-based therapy. The Company has a diverse portfolio of product candidates across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine, cardiovascular, autoimmune, and rare diseases. In 2018, CRISPR Therapeutics advanced the first-ever CRISPR/Cas9 gene-edited therapy into the clinic to investigate the treatment of sickle cell disease and transfusion-dependent beta thalassemia. Beginning in late 2023, CASGEVY® (exagamglogene autotemcel [exa-cel]) was approved in several countries to treat eligible patients with either of these conditions. The Nobel Prize-winning CRISPR technology has revolutionized biomedical research and represents a powerful, clinically validated approach with the potential to create a new class of potentially transformative medicines. To accelerate and expand its efforts, CRISPR Therapeutics has formed strategic partnerships with leading companies including Vertex Pharmaceuticals. CRISPR Therapeutics AG is headquartered in Zug, Switzerland, with its wholly-owned U.S. subsidiary, CRISPR Therapeutics, Inc., and R&D operations based in Boston, Massachusetts and San Francisco, California. To learn more, visit CRISPR THERAPEUTICS® standard character mark and design logo, CTX310™ and CTX320™ are trademarks and registered trademarks of CRISPR Therapeutics AG. CASGEVY® and the CASGEVY logo are registered trademarks of Vertex Pharmaceuticals Incorporated. All other trademarks and registered trademarks are the property of their respective owners. CRISPR Therapeutics Forward-Looking Statement Statements contained in this press release regarding matters that are not historical facts are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements made by Drs. Kulkarni, Ji and Ruff in this press release, as well as regarding any or all of the following: (i) CRISPR Therapeutics preclinical studies, clinical trials and pipeline products and programs, including, without limitation, expectations regarding data, safety and efficacy generally; (ii) data included in this press release, as well as the ability to use data from ongoing and planned clinical trials for the design and initiation of further clinical trials; (iii) the status and clinical progress of the SRSD107 clinical program and development timelines for such program; (iv) CRISPR Therapeutics strategy and goals; (v) the future activities of the parties pursuant to the collaboration and the expected benefits of CRISPR Therapeutics' collaboration with Sirius Therapeutics; and (vi) the therapeutic value, development, and commercial potential of gene editing and delivery technologies and therapies, including CRISPR/Cas9. Risks that contribute to the uncertain nature of the forward-looking statements include, without limitation, the risks and uncertainties discussed under the heading 'Risk Factors' in its most recent annual report on Form 10-K and in any other subsequent filings made by CRISPR Therapeutics with the U.S. Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by law. This press release discusses investigational therapies and is not intended to convey conclusions about efficacy or safety as to those investigational therapies or uses of such investigational therapies. There is no guarantee that any investigational therapy will successfully complete clinical development or gain approval from applicable regulatory authorities. About Thromboembolic Disorders Thrombosis, or blood clot formation, is the common underlying mechanism of most cases of myocardial infarction, ischemic stroke, and venous thromboembolism. According to a trial in The Lancet1 of regional and global mortality rates, thromboembolic disorders are estimated to cause as many as 1 in 4 deaths worldwide. About SRSD107 SRSD107 is a novel double-stranded small interfering ribonucleic acid (siRNA). SRSD107 specifically targets the human coagulation factor XI (FXI) mRNA and inhibits FXI protein expression, thereby blocking the intrinsic coagulation pathway and promoting anticoagulant/anti-thrombotic effects. SRSD107 has been engineered for the potential to enable twice-a-year dosing. About Sirius Therapeutics Sirius is a clinical stage biotech company developing innovative siRNA therapies for global markets. We are dedicated to discovering and developing new treatment options for cardiovascular and cerebrovascular disease and translating siRNA technology into transformative medicine for chronic disease patients. Sirius's most advanced products are SRSD107 for the treatment of thromboembolic disorders, SRSD216 for the treatment of hyperlipoproteinemia, and SRSD101 for the treatment of dyslipidemia. Founded in 2021 by a world-class leadership team and investors, Sirius has established an innovation center in the United States and translational medicine center in China. Sirius has raised nearly US$150 million funding to date from OrbiMed, Creacion Ventures, Hankang Capital, Delos Capital, and BioTrack Capital. Learn more at References: 1. Lozano R, Naghavi M, Foreman K, et al. Global and regional mortality from 235 causes of death for 20 age groups in 1990 and 2010: a systematic analysis for the Global Burden of Disease Study 2010. Lancet. 2012;380, 2095-1128. Investor Contact:+1-617-307-7503 [email protected]
