iCapital, a global fintech firm, has surpassed $200 billion in global platform assets, reflecting a significant growth from $100 billion in December 2021. The platform, which connects over 104,000 financial institutions with more than 1,630 funds from 600 asset managers, aims to enhance access to private markets for investors. With a workforce of over 1,675 across 17 locations, iCapital plans to invest over $600 million into its technology and solutions by the end of 2024, while expanding its international presence.
UBS analysts predict a continued rally in gold prices, forecasting they will reach $2,800 by the end of 2024 and $3,000 by 2025. This optimism is driven by strong demand, falling interest rates, a weakening US dollar, and geopolitical tensions, which position gold as a safe haven. Central banks are expected to increase their gold reserves, while consumer demand in major markets like China and India remains stable despite rising prices.
14:46 09.10.2024
Ares Management is set to acquire GCP International for $3.7 billion, a move that will nearly double its real estate assets under management to approximately $96 billion. The deal, which includes $1.8 billion in cash, will enhance Ares' global presence and capabilities in high-growth sectors like industrial real estate and data centers. The transaction is expected to close in the first half of 2025.
Purespring Therapeutics has secured $105 million in Series B funding to advance its gene therapies for kidney diseases, particularly targeting IgA nephropathy (IgAN). The funding, led by Sofinnova Partners, will support a Phase 1/2 study of its lead candidate, utilizing adeno-associated viruses to deliver treatments aimed at the podocytes, which are linked to many renal diseases. The company plans to present its IgAN data at the upcoming American Society of Nephrology’s Kidney Week meeting.
India is rapidly emerging as a leading destination for medical tourism, attracting around 150,000 international patients annually, with a projected growth of 15% each year. The government has implemented various initiatives, including the introduction of special visas, accreditation for healthcare facilities, and promotional campaigns to enhance the country's appeal. With a combination of world-class hospitals, skilled professionals, and affordable care, India is poised to become a significant player in the global medical tourism market.
The Swiss National Bank's recent key interest rate cut has led to a significant decline in savings account interest rates, with many banks now offering as low as 0.2%. This trend is expected to continue, as further rate cuts may be necessary to maintain price stability, leaving savers with diminishing returns on their deposits.
13:29 09.10.2024
Eli Lilly has partnered with AI firm Insitro to advance drug development, focusing on metabolic diseases. The collaboration includes three agreements, allowing Insitro to retain global rights to its research while Lilly benefits from milestone payments and potential royalties. Insitro will utilize Lilly's delivery technology alongside its own innovations to target liver conditions and develop new treatments.
The global microcar market, valued at $4.53 billion in 2022, is projected to grow at a CAGR of 11.02% from 2023 to 2030, driven by the demand for smaller, cost-effective vehicles amid urban congestion. Electric microcars lead the market share, while Asia Pacific is anticipated to be the fastest-growing region, fueled by a preference for affordable cars in countries like India and Japan. Major players include PSA Group, Smart, Toyota, and Renault, focusing on innovative technologies and sustainable transportation solutions.
David Baker, Demis Hassabis, and John Jumper have won the Nobel Prize in Chemistry for their groundbreaking work in computational protein design and structure prediction, significantly advancing drug design capabilities. Alnylam Pharmaceuticals seeks FDA approval for vutrisiran to treat a severe form of transthyretin amyloidosis, while Johnson & Johnson halts a bladder cancer trial for TAR-200. AstraZeneca invests in a preclinical cholesterol-lowering drug, and Astellas acquires rights to an experimental gene therapy for frontotemporal dementia.
NVIDIA shares are poised for a potential comeback, with analysts maintaining a strong buy recommendation. The stock is currently trading about 15% below the average price target of USD 152.44, with significant growth expected as the seasonal phase strengthens from October 29, historically yielding over 10% gains in the following weeks.
IG
12:47 09.10.2024
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