Misplaced Assumptions, Where Investments Go Wrong – Seeking Alpha

You've heard the one about the physicist, chemist, and economist marooned on a desert island with a can of beans but no way to open it. With index finger on temple, the physicist opines, "Focus sunlight on the can to melt it." "No", the chemist interrupts, "We should pour saltwater on the lid to rust the can." The economist, matter-of-factly, ties off the debate, "Assume we have a can opener."

Richard Mason and Ian Mitroff might have called being stranded with no way to get at food in one's possession an "ill-structured" or "wicked problem". They would have encouraged the three academics to engage in some, "strategic assumption surfacing and testing" to:

Notice my insertion in brackets above, "[investment hypotheses]". In considering and revisiting such decisions, I repeatedly attempt to apply this technique to expose and evaluate strategic assumptions that may affect our results.

Not infrequently, revelation about assumptions comes to me after I have already moved forward with an investment. For example, a couple of years ago I made beefy bets on three CRISPR (gene editing) stocks following their IPO's - CRISPR Therapeutics (CRSP), Editas Medicine (EDIT), and Intellia Therapeutics (NTLA). We did very well on them but sold out because I felt they had gotten ahead of themselves although I wasn't entirely sure why.

Something was niggling me that I couldn't quite explain. While walking our daughter's Yorkie a few months later, I ran into a friend who is very learned in stem cells. I mentioned backing away from our gene editing investments wondering out loud how most people could afford such treatments.

"Henry", he looked at me, "This is an issue. Other than through early-stage research grants, patients must tap private resources or look to foundations." Disappointingly, my friend's expert opinion seemed to confirm that funding, at least for now, is a limiting factor in how far and fast gene editing stocks can grow. I felt I had made a good decision to sell and move on. At a level, Bayer (OTCPK:BAYRY) must agree because they just backed off their original position in CRISPR Therapeutics. Strategic assumption testing.

However, that conversation didn't turn me away from all medical treatments; far from it. I later added to our position in Merck (MRK) that continues to receive approvals from governments around the world for the use of Keytruda to fight various cancers, bladder, Hodgkin lymphoma, neck, melanoma, pancreatic, small cell lung, and urothelial carcinoma among them. The strategic assumption here being, more applications x more government approvals = more revenue = more income = higher stock price and dividends.

And, although the word "genetics" is in its name, as opposed to one-patient-at-a-time editing, I also recently bought into NewLink Genetics (NLNK) that is discovering, developing, and commercializing medicines that tap the body's own immune system to fight disease. It was NewLink that discovered and then licensed to Merck, a 100%-effective Ebola vaccine that was recently approved by the FDA. It is NewLink that is now partnering with Ellipses Pharma, a UK private limited company, on an ovarian cancer treatment (that Merck does not have; hmmm). If approved, it could catapult NLNK to much higher levels. Although NewLink is still losing money, its balance sheet is pristine; it's positioned for growth. And, intangibly, I like the fact that it is headquartered in the heartland, Ames, Iowa; smart, hard-working people there.

Therefore, while on the one hand, patient-by-patient genetic treatments are overwhelmingly important, my current assumption is that they are not there yet from a shareholder perspective. On the other hand, using therapies - mono and poly - to fight cancer seems to be mushrooming.

Before moving on, it's also worth challenging assumptions about the very definition of healthcare. For example, with regularity, apps and gadgets are introduced to monitor bodily functions and wellness. Fitbit (FIT), that is in the process of being acquired by Alphabet (GOOG) (GOOGL), is a notable case in point.

Indeed, Alphabet is also perfecting an AI-based system that, in most cases, improves the accuracy of breast cancer diagnosis. In addition to benefiting those at risk, this technology may lower the need for less accurate technicians and doctors. Let us not forget that clinics and hospitals are businesses and, that here in US at least, the war rages over the cost of healthcare.

And, at an even broader level, Alphabet appears to be setting its sights on becoming a leader in medical diagnostics. If ever there was an indication of this, it is in the Mayo Clinic's recent announcement that they are teaming with Google on cloud-based data mining and AI to improve healthcare. This is a big deal that could recalibrate some basic assumptions in the field.

In a completely different category of investments, many SA contributors and commenters apparently still embrace the assumption that the sun still rises for Tanger Factory Outlets (SKT) and Simon Property Group (SPG). Here, obvious limiting factors are suppressed, talked over, or tuned out - the competitive domination of on-line shopping, big-box retailing, remote fulfillment, etc. For example, this research available for purchase from Coresight (I have no relationship with them) reports that: a) e-commerce is relentlessly gaining market share at an accelerating pace, b) there is no letup in the growth of retail defaults and bankruptcies, and c) disappointment will continue as new stores open into a flat sales environment (and, with interest/cap rates perhaps on the march again). For retail REIT pundits and investors to believe that they will beat these odds defies Einstein's very definition of insanity:

"doing the same thing over and over again expecting different results."

Tanger and Simon are classic "hole-in-your-pocket investments" wherein most investors blithely put those dividends in their tattered Levi's (NYSE:LEVI) and walk on not realizing that they've fallen through. This can be easily and conclusively demonstrated by adding up those dividends over time and subtracting the corresponding loss in these REITs' market caps. The algorithm is such: a) Pick a medium-term timeframe; I'll use 3 years, b) Add up all the dividends paid by the Simon Property Group and Tanger Factory Outlet during that time, and c) Subtract the difference in before versus after market cap. Material amounts of shareholder value have been destroyed:

Moreover, open the SKT and SPG pages on SA, and scroll down the sentiment summaries to the left and you will see that most contributors going back are skewed toward the bullish side of neutral; some are still "very bullish" notwithstanding years of disappointment during which they were also very bullish; is your head spinning?

For those investors looking for a "tell" on when REIT experts may be coming to grips with their own misplaced strategic assumptions, you need to look no further than to those who have shifted from recommending common to recommending preferred stock as it has been for: CBL Properties (CBL), Pennsylvania Real Estate (PEI), and Washington Prime Group (WPG). Definitionally, the destruction in shareholder value is seen in common stock prices. However, it is usually triggered farther up the balance sheet as I know from my days predicting REIT bankruptcies by anticipating covenant defaults.

And, for mall REIT investors who want to know who is picking up that money falling through the hole in your pocket, look no further than to compare the stock performance of SKT and SPG to, say, Alibaba (BABA), Amazon (AMZN), Target (TGT), and Walmart (WMT). There is a reason these lines inversely correlate:

Or, take those of us who write about the relative (de)merits of internal combustion, battery electric, and fuel cell engines. With every post, we confront assumptions involving limiting factors. ICE vehicles must be phased out given that their emissions are sickening planet earth; they are. BEV growth assumes the unconstrained availability of heavy metals essential to their production. FC(E)V power coming from natural gas is not carbon-free.

Have we pushed strategic assumption surfacing and testing far enough in this space? If you listen to Elon Musk, there is nothing more to debate; BEV's and, specifically, his BEV's are it. For us mortals, as opposed to driving a single stake in the ground, it may be wiser to spread out over various forward-looking investments including, for me: a) Toyota (TM) that continues to innovate around diversified product line that will increasingly deemphasize ICE vehicles in favor of hybrids, pure BEV, and FCV's, b) Suzuki (OTCPK:SZKMY) that commands a major share in the world's third largest automobile market, India, and is well positioned with low-energy-consumption scooters and motorcycles best suited for use in densely populated cities and poorer countries, and c) ABB (ABB) and Ballard (BLDP) that are focused on bringing clean(er) energy to commercial vehicles including boats and ships; others are, as well.

Strategic assumption testing has also brought us to investing in miners of heavy metals that are essential to all manufacturers of batteries and cleaner ICE vehicles - Amplats (OTCPK:ANGPY), Glencore (OTCPK:GLNCY), Norilsk (OTCPK:NILSY), South32 (OTCPK:SOUHY), Sumitomo Metals (OTCPK:SMMYY) - platinum, palladium, rhodium, cobalt, nickel, and manganese. To reemphasize, for now we simply don't accept as fact that there is only one right way to invest in clean energy vehicles.

For the climate change / global warming deniers out there, the time has come to embrace the strategic assumption that the transformation to clean, renewable, sustainable energy is happening. If you don't believe me, no offense taken. Believe the largest institutional investors and fund managers on earth - like Norway's sovereign wealth management fund, or BlackRock (BLK) whose Chairman and CEO, Larry Fink. If you as an individual investor assume that you can successfully buck this movement, you assume wrong. Do yourself, your children, and the rest of us a favor - get on board.

Strategic assumption - many individuals own too many high-priced, underutilized, fixed assets whether second homes, automobiles, airplanes, or boats. Businesses figured out long ago that they need to better utilize real estate and equipment, two of the costliest factors of production. A trend developed in renting vs. owning as, for example, when farmers began resisting the temptation to buy that expensive combine in favor of outsourcing harvesting to a neighbor who wanted better utilization of the expensive combine he already owned. Makes sense.

Expedia (EXPE) through HomeAway/VRBO, and Airbnb (private) have begun to address the challenge of underused residential real estate by bringing vacation property owners together with those who have no interest in title but instead rather rent for a week, a month, or a season. I am no longer able to count the number of our friends who use one of these options to escape winters or summers to friendlier climes in America's playgrounds. A while back, competing hotels felt the squeeze such that they too got into the vacation rental business; deals are everywhere.

And, we have a parallel situation with automobiles. I'm talking about Uber Technologies (UBER) and Lyft, Inc. (LYFT) where owners with time on their hands are, in effect, renting out their cars and driving services. For "renters", the equation could make sense if you're comfortable with rising prices, lax pick-up service, or the probability of jumping into a car with a pervert. The model may also work for "the middlemen" - Uber and Lyft - and any other company who can develop the critical mass while steering clear of existential liability.

But the strategic assumption that keeps getting in my way is from the vantage point of the supply-side, the owners. Specifically, I wonder if every-day individuals who are long fixed assets really understand their total cost of ownership or if they are just trying to earn some pin money or cover some bills. Mind you, there is nothing wrong with that unless/until one starts focusing return on their investment (and labor). Depreciation, licensing fees, insurance premiums, deductibles, fuel costs, maintenance expenses, tax and tax prep all add up never mind waking up to discover that one is earning well less than minimum wage on all the time and hassle associated with operating and administering such assets and activities.

Wrap it all together and I'm hung up on the assumption that EXPE, UBER and LYFT are limited-life alpha investments that owe their existence to 'temporary' albeit rolling excesses. As a board member our HOA, I'm channeling on a neighbor who last year whined about all the costs associated with his three homes. When I said to him, "Your problem is that you have too many damn homes", his surprise instantly turned to laughter and then agreement (a few months later he sold one of his places).

The chart below suggests that Uber, and Lyft have quickly moved through the growth phase of their S-curves and are now more-or-less mature investments that may tip into decline as others compete for market share. Indeed, they appear to have been mature investments before their IPO's hit the market; strange, isn't it.

Mason, Mitroff, and others would say that strategic assumption testing can/should be applied in "dialectic discourse" to planning [and investing]. A fancy phrase for a simple concept in which two or more people holding different points of view about a subject wish to establish the truth through reasoned arguments. The approach resembles debate but excludes subjective elements such as emotional appeal and pejorative rhetoric.

Dialectic discourse is difficult to achieve where emotions run high protected by ideological worldviews - the ethics of gene editing, ancestral comfort with tangible property / real estate, defensiveness that we humans contribute to climate change, and so forth. Those of us who write on these topics at times face numbing bias in the form or trite accolades by sycophants, or incoherent criticism by haters. To some extent, SA's anonymous format obstructs dialectic discourse.

So, when the process isn't possible, we're left to our own devices. To this I say, there is nothing wrong with having a conversation with yourself starting with basic questions: a) Am I open or closed minded; am I boxing myself in?, b) How might I think about challenges differently?, c) What other (substitute) options are available?, d) Could 'the answer' be different in the short versus long-run?, e) Do I know what I don't know; how do I find out? Repeat.

Does dialectic discourse work even if only with oneself? I'm careful to think that it might. I've followed up with alpha-level evidence on many of my own articles and a review of portfolio performance confirms that we are handily beating the indexes including the S&P 500 (as well as Warren Buffett's Berkshire Class A (BRK.A) shares). Because investment challenges these days are ill-structured / wicked, I recommend strategic assumption testing.

Disclosure: I am/we are long BAYRY, MRK, NLNK, GOOGL, BABA, TM, SZKMY, ABB, BLDP, ANGPY, GLNCY, NILSY, SOUHY, SMMYY. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: Always do your own due diligence in consultation with a licensed and competent financial adviser who understands your unique needs and puts your interests ahead of their own. Remember, there are added considerations in owning foreign securities including those associated with ADR sponsorship, buying and selling the pinks, foreign withholding taxes on dividends, and fees. (All my proceeds from contributing to SA go to charity.)

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Misplaced Assumptions, Where Investments Go Wrong - Seeking Alpha

Learning to be relentless – The Daily Republic

Thats something 13-year-old Floyd Korzan learned the hard way when his father, Matt, was diagnosed with acute myeloid leukemia, a highly-deadly form of blood cancer, after he fell ill on a family hiking trip in the Black Hills in 2012.

Matts fight against the disease has since taken the Mitchell family on a journey of frightening lows and celebratory highs and led Floyd to start Relentless Pledge, a non-profit organization that encourages patients to be as relentless as his father as they fight to achieve the goal of overcoming cancer.

We basically have two goals. The first one is to inspire others to overcome obstacles and dream their dreams. And the second part of the goal is to give a Relentless wristband to every cancer patient in Mitchell, our hometown, and eventually, if we get big enough, South Dakota and the United States, Floyd said in an interview with the Daily Republic.

Its a goal borne out of Floyds experience when he sat with his father at the Mayo Clinic in Rochester, Minnesota as he underwent treatments for the disease. Matt beat the leukemia once, but it later returned, a bad sign when associated with this particular kind of cancer. It went into remission again but returned again in 2017, and doctors were not hopeful.

With few options remaining, Matt agreed to a stem cell donation treatment that would use cells provided by his sister, Margaret, who happened to be a 100 percent match, injected into his system following an intense round of chemotherapy. The treatment was difficult, but after 8 million donor cells were circulated through his system, the doctors began to see good results.

Little by little, I came back, Matt said. After 30 days, they did a bone marrow biopsy that showed no evidence of leukemia whatsoever. They did another one at the end of the year, still no evidence of leukemia. They did one at the two-year mark, still no evidence of leukemia.

Visitors to relentlesspledge.org can nominate individuals to receive Relentless wristbands, which remind people to stay the course when attempting to achieve their goals. (Erik Kaufman / Republic)

Floyd recounted the scary days of his dads fight in an essay posted on his website relentlesspledge.org. He asked his father at the time how he could be as strong as he was even as he suffered from the disease and the side effects of his treatment. Matts response was that there may be times in life when the only person left who believes in you is you, and in those times, you must be relentless in order to make it through.

Floyd had found his own inspiration in his fathers fight, and he wanted to spread that inspiration to others who were suffering. Normally a private person, Matt agreed to share his story with the public and helped his son form Relentless Pledge, which encourages people to live life to the limit, to dare, to dream, and be relentless in overcoming challenges.

Visitors to the website can take the pledge, as well as nominate individuals to receive one of the symbols of the organization: a wristband bearing the word Relentless. Visitors can also order wristbands for themselves, family members, friends as well as cancer patients.

The goal is to spread the message of hope to every cancer patient in America, Floyd said. He has shipped orders of wristbands to 26 states around the country and three continents already, and the pair plan to pass out the wristbands to people in the leukemia ward at the Mayo Clinic, where Matt returns periodically for continued treatments. More wristbands will be given out at the Avera Cancer Center in Mitchell.

In total, they estimate theyve given out about 400 of them so far. And the campaign is officially less than two weeks old.

It seemed to strike a chord with people, Matt said.

As the young program grows, Floyd said the organization could expand to include more than just cancer patients in its message. There are others who are trying to accomplish goals, as well, such as public servants or community-minded individuals.

Its not all about cancer. Now were looking at giving them out to local heroes," Floyd said. "So far, weve given them to local firefighters and the librarians at the Mitchell Public Library, and were thinking about the police department."

Floyd hopes Relentless Pledge continues to grow. He is eyeing expanding the Relentless line to include t-shirts that would promote the Relentless Pledge, but for now he is concentrating on fulfilling orders for the wristbands and getting them in the hands of people who need inspiration.

I have big dreams in the future where this organization could expand to have a full line of accessories, Floyd said. Relentless gear.

Matt said he is recovering a little more each day, and hes grateful. Hes been able to throw the ball around in the yard with Floyd again, and he is working to become stronger as he continues his recovery. He said hes grateful for the love and support of Floyd as well as his wife Bam and other children Alexis, Cassidy, Hailey and Jackson. Hes thankful for doctors like Kebede Begna and Lucio Margallo, both of whom Matt described as relentless in helping him fight for his health.

And hes happy to help Floyd spread the message of hope through Relentless Pledge, he said.

I think its great. I think its a noble project, and I think its good for Floyd. Of all the ways a teenager can spend their time, this is pretty solid, Matt said.

Floyd said he plans to continue his work with the organization well into the future. He has a little over four years left before he leaves for college, and with that time he plans to do everything he can to remind those who are struggling to remain relentless.

One Relentless wristband at a time.

The next step is spreading the word, Floyd said.

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Learning to be relentless - The Daily Republic

Here’s Why Stemline Therapeutics Dropped Today – Motley Fool

What happened

Shares of Stemline Therapeutics (NASDAQ:STML) were down 34% at 11:42 a.m. EST after the company released disappointing preliminary fourth-quarter results.

The biotech estimates that it sold $11.8 million worth of Elzonris, a drug that treats blastic plasmacytoid dendritic cell neoplasm (BPDCN), a type of blood cancer. That's lower than the $13.1 million Stemline Therapeutics sold in the third quarter -- when, as the company noted, the number of new patients on the drug increased by over 20% quarter over quarter.

Management didn't give much color on the reason for the quarter-over-quarter decline in the press release, but the company has noted in the past that BPDCN is often misdiagnosed, and it was working with doctors to increase the speed and accuracy of diagnoses. Management will likely update investors on the progress and reason for the sales slowdown during the company's presentation at the J.P. Morgan Healthcare Conference on Wednesday.

Image source: Getty Images.

The slowdown in launch trajectory is certainly disappointing, but Stemline Therapeutics has plenty of opportunities to turn things around. Elzonris is under review by EU regulators, setting up a likely approval this year.

Further down the line, there's potential to expand Elzonris into other blood cancers; the company is currently testing the drug in three different blood cancers -- chronic myelomonocytic leukemia, myelofibrosis, and acute myeloid leukemia -- with clinical trial data in all three expected this year. There's also potential to move Elzonris into the maintenance setting for patients treating their BPDCN through a stem cell transplant; initial data in that setting is expected this quarter.

Continued here:
Here's Why Stemline Therapeutics Dropped Today - Motley Fool

Medics key to spotting signs of child abuse, Abu Dhabi conference hears – The National

The crucial need to spot the telltale signs of child abuse was high on the agenda as a global medical conference got under way in Abu Dhabi on Thursday.

Experts said doctors and nurses were well placed to uncover any early child abuse indicators, but must be clear in their diagnosis as bruising is common and can often indicate serious illnesses such as leukaemia.

The vital topic was put under the microscope during the opening sessions of the 14th Seha International Paediatric Conference at the Rosewood hotel on Al Maryah Island.

Doctors and other healthcare professionals will assess the latest developments in child healthcare during the three-day conference.

It can be the most amazing family in the world, but abuse in the home can be happening and doctors can quickly determine that with a proper physical assessment, said Dr Leslie Lehman, clinical director of paediatric stem cell transplants at Boston Childrens Hospital in the US.

A detailed history and physical exam of a child can determine the cause of bruising and rule out abuse.

Most bruises in childhood are result of minor environmental interactions.

If doctors are still unsure of the cause of bruising, a paediatric haematologist should be consulted.

Researchers also discussed breakthroughs in how to spot early signs of sepsis, paediatric hypertension, and bone and joint infections.

Delegates from some of the leading international care facilities attended the event to share their most recent findings and research.

They included experts from the Childrens Hospital in Philadelphia, the Cincinnati Childrens Hospital, Boston Childrens Hospital, National Childrens Hospital in Washington and Londons Great Ormond Street Hospital.

Abu Dhabi Health Services Company, the UAEs largest healthcare network, is hosting the 14th edition of a conference that has become one of the most prominent in the field, providing significant advantages to professionals who serve children in the UAE and the wider region.

Sehas priority is to offer children with services and treatment methods that match, if not exceed, the highest international standards, said Dr Elsadeg Mohamed Sharif, a consultant paediatrician at Al Ain Hospital.

It is dedicated to utilising the available technology and expertise worldwide to deliver on that promise.

Updated: January 16, 2020 03:05 PM

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Medics key to spotting signs of child abuse, Abu Dhabi conference hears - The National

Smart Group & A4M Concluded their First India Conference 2020 – NewsPatrolling

Smart Group & American Academy of Anti-Aging Medicine have successfully concluded their first conference featuring esteemed speakers, experts, clinicians, and researchers in the field of Integrative and Functional Medicine.

New Delhi 18 January 2020 On Saturday, January 18th, 2020, the Smart Group in partnership with A4M together held their 1st India Conference at the Hyatt Regency, New Delhi. The two-day conference featured esteemed speakers, celebrated doctors and learned professionals in the field of preventive, integrative and traditional medicine from India and across the globe.

Addressed by some of the worlds leading faculty in preventive healthcare, this groundbreaking event was attended by more than 300 doctors and featured the most cutting edge and futurists innovations in healthcare.The guest speakers at the conference were globally renowned scholars who have been leading integrative medicine globally and key leaders of the$4trillion global wellness industry which is due to swell to$30trillion.

The audience had a chance to listen to globally renowned speakers like Dr Andrew Heyman (MD, MHSA); Dr Pamela Smith (MD, MPH, MS); Dr Daniyar Jumaniyazov (MD, PhD); Dr Graham Simpson (MD); Dr Brian Delaney (PHD) and Indian health leaders like Deepak A V Chaturvedi (MD), endocrinologist from Mumbai; Alok Sharma, President, Stem Cell Society India; Dr BS Rajput Vice President , Stem Cell Society India ; functional medicine experts like celebrity nutritionist, Dr Anjali Hooda amongst others.

A series of sessions as conducted by renowned industry experts, featured new age topics including intermittent fasting, regenerative medicine, autoimmunity, biochemical detox, and sub-fertile male amongst others, all of which have taken urban India by storm and are being increasingly endorsed by celebrities from Bollywood, sports and even politics. A key feature of the conference was the scientifically curated exhibition featuring nutraceutical providers, companies in cellular regeneration & gene testing, healthcare equipments enabled by artificial intelligence. Healthcare stalwarts like Dabur and Apollo showcased their futuristic vision for healthcare in India

Keeping with the futuristic theme of the conference, Dr M (BK Modi) Founder-Chairman, Smart Group, addressed the audience via a video conference. Detailing his own experience with stem cells, he said, I am very glad that doctors in India are taking a keen interest in preventive health. Cellular therapy has personally given me a renewed zeal and has enabled me to pursue my passion despite my age. I wish more people discover the benefits of preventive health, and can lead happy & healthy lives, beyond 100.

The thought was echoed by Ms Preeti Malhotra (Chairman, Smart Bharat and President Organising committee, Smart A4M India conference, Medicine has taken an exponential leap this century. Preventive health has had a profound effect on human longevity, awareness, mental wellbeing. There are researches claiming that children born in the coming years may live for upto a 1000 years, this has a profound effect on social relations, economies and the future of a nation. I am very happy that we were a able to bring A4M into India to initiate this conversation, much needed in a country like ours.

Given the resounding success of Smart Group & A4Ms 1st India Conferences Day 1, its hoped that the Day 2 shall offer even greater wisdom to the participants by helping them improve and the lead the community into the age of greater awareness.

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Smart Group & A4M Concluded their First India Conference 2020 - NewsPatrolling

‘Comfort’ or con? Despite money, education, well-off Filipinos turning to questionable treatments – Coconuts

In 2008, retired finance professional Pablito Bermundo found himself staring up at the surgical lighting hanging over the operating table, feeling both annoyed and amused that he was once again going under the knife.

After his gallbladder was removed in 2006, a massive cyst grew in his liver, one that would need to be surgically drained every six months. After two years of being wheeled in and out of the operating room, he decided that hed had enough.

I have to look for other options, he thought.

In 2009, Bermundo met a man who convinced him to give hilot a shot. Hilot is an ancient Filipino healing method in which ailments are purportedly treated with massages administered by healers known as manghihilot, who supposedly derive their power from God. Though many doctors are skeptical that hilot can cure serious illnesses, Bermundo credits it with saving his life.

With standards of living and education levels on the rise across much of Southeast Asia, including the Philippines, it would stand to reason that traditional healing methods often scientifically dubious, and occasionally accused of making matters worse would have begun to wane outside of remote areas where traditional ways still hold sway. However, Bermundo is one of many middle- and upper-class Filipinos who, despite their means and access to modern treatments, have continued to put their faith in alternative healing methods over Western medicine.

Meanwhile, as access to science-based Western medicine increases, so too does exposure to Western quackery, and questionable new-age healing practices many of which have quasi-Orientalist roots, and have been debunked by science are also beginning to make inroads among well-off Filipinos.

A gift from the gods

Though finding figures on alternative medicine use is next to impossible, medical anthropologist and physician Dr. Gideon Lasco says that the embrace of alternative treatments transcends class.

People just go to different places. For example, our fellow Filipinos in far-flung areas might go to an albularyo [a traditional healer], whereas a millionaire might fly into some Indian [retreat], or see some Korean practitioner.

He said people have different reasons for being wary of modern treatments.

Some people might have previous experience in hospitals or [with] doctors that they didnt enjoy.

In Bermundos case, what pushed him to go for hilot was his unhappiness with the options Western medicine and health professionals were presenting him.

I sought a second, third opinion. One doctor said he could cut off the cysts [because he said the liver] would still regenerate, he said, adding that to him, the treatment sounded too invasive.

But that all changed when he met the late Boy Fajardo, a manghihilot who learned the treatment through apprenticeships with rural healers he met in his travels around the Philippines.

Bermundo felt he had nothing to lose by trusting the healer, and Fajardo put him through regular weekly hilot sessions, and made him drink an herbal concoction containing water spinach and banaba leaves after every meal. After one month under Fajardos care, Bermundo went for an ultrasound and was pleasantly surprised to see that his cyst had shrunk dramatically.

Bermundo recalls his doctor telling him, There are no scientific studies that prove that hilot works, but just continue what youre doing.

Fajardo passed away in 2018, but Bermundo, now 76, still goes for hilot sessions, and remembers the healer as a charming man who was easy to trust.

He was naturally friendly; he wasnt in a hurry. He would answer all of your questions; you can call him anytime.

Fajardos protg Louanne Calipayan told Coconuts Manila that kindness was an especially important requirement for a manghihilot, and not just because it improves their bedside manner.

They have to be good people because what they offer is a service. A healer needs to have this characteristic because [we believe] he channels the energy from a Supreme Being, she said. A healer has to change whats in his heart because thats the energy that he will channel out of himself.

Calipayan said that despite the advancements modern medicine has made, she and her associates are seeing a resurgence in interest in hilot.

We have people flying in from Visayas and Mindanao and all other parts of Luzon. These are not the stereotypical people who go for hilot, who are uneducated or dont have money to pay a doctor, she said. In many cases, these are people who have been to many doctors or have had different treatment options, but they found the relief they were looking for in hilot.

Its not just Filipino patients who are becoming increasingly interested in hilot. As with other Eastern medicinal practices of unproven efficacy like Indias Ayurvedic healing, for instance hilot is attracting attention among Westerners. Calipayan said that not only has she has trained students from all over the country on how to practice hilot, she has also had some from as far away as Canada.

Medical anthropologist Lasco said he was skeptical of the actual medical benefits of hilot, but allowed there was still a lot of things doctors could stand to learn from traditional healers like Fajardo and Calipayan.

Patients dont just go to a doctor to get a diagnosis or treatment. They also go to the doctor to get comfort, to get reassurance, to understand whats happening to their bodies, to be given a chance to discuss choices, he said.

These traditional medicine practitioners offer us a clue of what patients are looking for. These hilot, albularyo what they offer is a personal connection.

He died of sadness

But for every apparent alternative healing success story like Bermundos, theres another like J.B. Bolaos.

A publicist by trade, Bolaos had grown skeptical of Western medicine after he witnessed what it did to his late mother, Lina.

In a recent phone interview, J.B. told Coconuts Manila how he lost both of his parents, starting with Lina, who died of lung cancer in March of 2018 after a grueling course of chemotherapy that ravaged her body. When his father, Melecio, was diagnosed with pancreatic cancer, he looked for another option.

I saw what chemo did to my mom. Every three weeks we would fly to China for cryosurgery, and chemo. She would feel so weak after two days, he recalled. [Thats why I thought] I would not go for conventional therapy for my father.

J.B. explained that based on his research, pancreatic cancer has a very poor prognosis, which further pushed him to try alternative means for his father. Chemo, he believed, would have just made Melecio weaker.

Melecio went through an alternative treatment called Gerson therapy, a dietary regimen devised by the German-American physician Max Gerson, who began touting it as an effective alternative cancer treatment in the 1920s. In Gerson therapy, patients adhere to a strict diet, purportedly to flush out toxins, and are also given coffee enemas, supposedly to spur the production of glutathione, a detoxifying antioxidant.

However, by 1989, the American Cancer Society had already evaluated the treatment and labeled Gerson therapy a sham, finding no evidence that it could effectively treat cancer. Prior to that, the National Cancer Institute in the United States studied 60 patients who used the Gerson therapy between 1947 and 1959, and concluded that the regimen did not benefit those patients.

More recently, an Australian wellness blogger documented her own rejection of more aggressive cancer treatment in favor of Gerson therapy. Despite consuming 10 juices and undergoing five coffee enemas a day as part of the regimen, she died at age 30 in 2015.

Despite the questionable nature of the treatment, J.B. and his father decided to try the method, which proved equally as expensive and taxing as chemotherapy.

Its all about juicing, the right diet, where everything has to be organic, J.B. explained. He had to take around nine juices a day, but theyre organic. All are fresh. You cannot prepare the juice like two hours before [you drink them]; you have to prepare them on the spot.

Because J.B. was busy managing his own company while juggling a teaching career, he had to hire two nurses who worked in shifts to take care of his father. Aside from the organic juices, his father was also infused with high doses of Vitamin C, Vitamin B17, and Chinese herbal medicines, and underwent ozone therapy, an alternative treatment that supposedly increases the amount of oxygen in the body.

Melecio ultimately passed away, but his son still believes that the treatment he received gave him the best quality of life.

Conventional [chemo] therapy would have given him no assurance that he would win the battle against cancer, J.B. said. There were no assurances; in fact, he might have died sooner.

My dad died of heart failure. Normally, if you die of cancer, its multiple organ failure. What he died from was totally unrelated. His heart just stopped. And I know that when someone has pancreatic cancer when you hold that persons hand, they would feel pain. My dad never had that experience, he added.

He died of sadness [from my mothers passing]. I would like to believe that he did not die of cancer.

Lasco, the medical anthropologist, said a belief in alternative treatments is common among those who have been diagnosed with cancer because of the high rate of mortality. Ditching chemotherapy as JB did for his father is understandable given the extreme side effects.

Its natural for us to want to live as long as we can, but for other people, their priority is their quality of life. They would rather have a normal and non-chemotherapy kind of life and think, OK, Ill risk this treatment. If it doesnt work out, thats OK with me, he said.

Still, as a physician, Lasco would not recommend alternative treatments to his own family.

People have their own reasons [for using such treatments]I dont want to debate [against them] because its easy to find someone who died due to chemotherapy, he said.

Whether we like it or not, we are mortals and one way or another, we will all die. So the best thing we can do [as doctors] is to show patients that this kind of treatment, based on a global study, has a recovery rate of this percentage.

Profiting on pain

Lasco, however, remains worried about fraudulent healers who take advantage of patients desperate to find a cure for their terminal illnesses, specifically cancer.

The country is no stranger to such charlatans. In the 1970s, for example, the Philippines became known for its psychic healers and those who claimed to be able to perform surgery with their bare hands. The most famous of them, Ramon Jun Labo, even treated the late comedian Andy Kaufman and then-President Ferdinand Marcos. Labo was later sued for swindling in Moscow by thousands of his former clients.

Another high-profile alternative healer was Antonia Park, who admitted to Rappler in 2014 that she was not a registered physician in the Philippines, despite working as a stem cell doctor for former President Gloria Macapagal Arroyo and the late Quezon City Vice Mayor Charito Planas.

Park was sued by businessman Bernard Tan in 2013 after Park treated his late daughter, Kate Tan, whose cancer recurred in 2012.

According to Bernard, Park said his daughter was just suffering from a hormonal imbalance and promised to treat her within three months through stem cell therapy, Rappler reported. Park also put Kate on a restrictive diet featuring fruit and vegetable juices. But as the months passed, Bernard noticed that his daughter was not getting any better.

Kate ultimately went back to chemotherapy and died in July 2013, with Bernard blaming Park for her death. Park was charged with fraud and reckless imprudence resulting in homicide, and her clinic was shut down by the authorities.

Lasco said that despite peoples understandable motivations for seeing alternative treatments, there is a need to protect patients and their families from healers of questionable backgrounds, without dismissing the legitimate fears and concerns of patients.

We should be vigilant about how peoples desperation [is] being used by these alternative providers. Our regulatory agencies should go after these treatments, Lasco said.

People dont want to give up that easily, and they will avail of treatments, especially these treatments offered by people who offer them hope. Ive seen it happen that theyre taken advantage of, he noted. Theres no way to prove if these treatments work or not because people dont complain because theyre dead.

Read more Coconuts Manila feature stories here.

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'Comfort' or con? Despite money, education, well-off Filipinos turning to questionable treatments - Coconuts

Doctor’s Hospital focused on incorporation of AI and machine learning – EyeWitness News

NASSAU, BAHAMAS Doctors Hospital has depriortized its medical tourism program and is now more keenly focused on incorporating artificial intelligence and machine learning in healthcare services.

Dr Charles Diggiss, Doctors Hospital Health System president, revealed the shift during a press conference to promote the 2020 Bahamas Business Outlook conference at Baha Mar next Thursday.

When you look at whats happening around us globally with the advances in technology its no surprise that the way companies leverage data becomes a game changer if they are able to leverage the data using artificial intelligence or machine learning, Diggiss said.

In healthcare, what makes it tremendously exciting for us is we are able to sensorize all of the devices in the healthcare space, get much more information, use that information to tell us a lot more about what we should be doing and considering in your diagnosis.

He continued: How can we get information real time that would influence the way we manage your conditions, how can we have on the backend the assimilation of this information so that the best outcome occurs in our patient care environment.

Diggiss noted while the BISX-listed healthcare provider is still involved in medical tourism, that no longer is a primary focus.

We still have a business line of medical tourism but one of the things we do know pretty quickly in Doctors Hospital is to deprioritize if its apparent that that is not a successful ay to go, he said.

We have looked more at taking our specialities up a notch and investing in the technology support of the specialities with the leadership of some significant Bahamian specialists abroad, inviting them to come back home.

He added: We have depriortized medical tourism even though we still have a fairly robust programme going on at our Blake Road facility featuring two lines, a stem cell line a fecal microbiotic line.

They are both doing quite well but we are not putting a lot of effort into that right now compared to the aforementioned.

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Doctor's Hospital focused on incorporation of AI and machine learning - EyeWitness News

Viewpoints: Medicaid Expansion Reveals How Liberal Policies Make For Good Politics; Hey, Congress, What’s The Hold Up With Surprise Medical Bills? -…

Opinion writers tackle these and other health issues.

The New York Times:Progressives Are The Real PragmatistsWhen left-wing Democrats push for universal benefits and expansive new policies, they do so with a theory of politics in mind. It goes like this: The reason to fight for debt-free college or Medicare for all isnt just to improve life for Americans, but to build new ground for progressive political activity. New programs create new constituencies, and new programs with broad benefits can give more Americans a stake in the expansion and preservation of the welfare state. Conservatives know this. Thats why theyve fought so hard to block or undermine even modest new programs. (Jamelle Bouie, 1/13)

The Washington Post:Congress Needs To Settle Its Differences And Put An End To Surprise Medical BillingWashington seemed to be working, for once. Last month, key members of the House and Senate House Energy and Commerce Committee Chairman Frank Pallone Jr. (D-N.J.), Rep. Greg Walden (R-Ore.), Senate Health Committee Chairman Lamar Alexander (R-Tenn.) and Sen. Patty Murray (D-Wash.) had negotiated legislation that would end so-called surprise medical billing. Example: when you have emergency surgery, then get slammed unexpectedly with a huge bill from an out-of-network anesthesiologist you didnt choose. The legislation was set to be included last month in a must-pass funding bill. (1/12)

Cleveland Plain Dealer:There Is No Excuse For Surprise Medical Billing. Ohio Should Act.Voters concerned about surprise billing should let those legislators know of their concerns, and share any personal experiences with surprise billing that theyve had. According to a report by the Commonwealth Fund (a philanthropy founded by the Harkness family, which had Cleveland ties), as of July, 28 states had enacted measures to protect patients against surprise medical billing.Ohio should do the same. (1/10)

The Hill:Where Women's Health Care Is Lacking, Women Are DyingA woman is more likely to die of cervical cancer in Alabama than in any other state in the country. An African-American woman in the state is twice as likely to die of cervical cancer than a white woman.While these statistics are harrowing, they are not surprising. Alabamas disproportionately high cervical cancer mortality rate is reflective of a more significant trend: States that limit access to womens health services tend to have the worst health outcomes for women. (Nakisa B. Sadeghi and Dr. Leana S. Wen, 1/10)

Colorado Sun:We Are Colorado ObGyns. Words Matter On Abortion Rights.If pregnant people and a medical procedure are going to be used as fodder for a political dispute, we all have an obligation to get the medical science and facts right. That means relying on doctors and medical professionals for their expertise, not politicians who are trying to use stigma, shame and inflammatory language to keep pregnant people from exercising their constitutional rights. Recently, Facebook took down a fact check of an anti-abortion video by three doctors after four male Republican senators objected. Thats not OK. (Dr Emily Schneider and Dr. Kristina Tocce, 1/12)

The Washington Post:I Thought My Second Baby Would Be Easier. And Then I Started Drowning.After four years, three miscarriages and an ectopic pregnancy, the second baby I had yearned for entered the world. Armed with four years of parenting experience, I thought I was better equipped to handle life with a newborn than I had been as a new mom. I had survived the sleepless nights, weathered the scary fevers that precede budding teeth and coached myself through the irrational fears that accompany caring for a completely helpless human. (Danielle Campoamor, 1/10)

Bloomberg:Obamacare Marches On As Republicans FlailState by state, my prediction that the Medicaid expansion made possible by the Affordable Care Act would eventually be universal is slowly coming true. Most Republican governors had originally rejected expansion and the federal money that finances it, but plenty of them are agreeing to compromises to make it happen. The latest? Kansas. That leaves 14 states to go, although those 14 still include both Texas and Florida, so were still talking about a lot of uninsured people. (Jonathan Bernstein, 1/10)

The New York Times:The F.D.A. Is In Trouble. Heres How To Fix It.The Food and Drug Administration is in distress. The agency is still the worlds leading regulator of food and medical products, responsible for ensuring the safety of some $2.6 trillion in consumer goods each year. That represents 20 cents of every dollar that Americans spend. But critics both inside and outside the sprawling agency say that the F.D.A.s standards have been slipping for some time. (1/11)

The Hill:China Has A New SARS-Like Virus How Serious Is It?The last several days of infectious disease headlines have been focused on a mysterious outbreak in Wuhan, China, that has many concerning harbingers. This cluster of pneumonia cases some of which are severe involves individuals who had exposure to a, since decontaminated, seafood market that housed many types of animals. (Dr. Amesh Adalja, 1/9)

The Washington Post:Puerto Ricans Should Never Forget How Trump Treated ThemHere's what Puerto Rico has endured over the past two years: a devastating hurricane that killed and displaced thousands of people and plunged the island into months of darkness; an incompetent and corrupt local government; a bungled and halfhearted emergency response from the federal government. Now, even as hurricane recovery remains incomplete, a new natural disaster: a 6.4-magnitude earthquake followed by powerful aftershocks. (1/12)

The Wall Street Journal:Cancel Culture Comes To ScienceAn unhappy side effect of the digital age is cancel culture. Anyone with an attitude of moral superiority and a Twitter account can try to shut down an event where opinions he dislikes are likely to be spoken. For several years the National Association of Scholars has inveighed against this infantile form of protest, which undermines free expression of ideas and legitimate debate. Now the cancel caravan has arrived at our door. (Peter W. Wood, 1/12)

The Washington Post:The Crisis In Foster CareThe theory behind foster care is grounded in an assumption of stability placing children whose parents are absent, dead or deemed unfit with stable families where community, schools and peers are roughly familiar. The reality is increasingly the opposite. An acute shortage of foster parents has produced a cohort of vulnerable children, many with drug-addicted parents, who are sent away, sometimes out of state, to live in juvenile detention centers, shelters and group homes. (1/11)

The New York Times:Trumps Weakening Of Environmental Rules Would Leave The Public In The DarkFifty years ago this month, President Richard Nixon signed one of the most effective laws ever written to protect the environment and strengthen democracy by ensuring that citizens would have a say over projects like highways and pipelines that directly affect their well-being. Now President Trump is trying to cripple it. (Sharon Buccino, 1/10)

Louisville (Ky.) Courier Journal:We Must Increase Access To Mental Health Care. Too Many People Are DyingWhen facing the homicide crisis in the U.S., nearly all of us, citizens and politicians alike, jump to the same questions: What industry is at fault? Who needs tighter regulations? Nobody is asking this about our nations mental health. Our healthcare system today clearly is not meeting the needs of Americans suffering from mental illness. Health insurance companies follow vague and unenforceable federal and state regulations that leave enrollees without access to timely mental health care. (Caitlin Liford, 1/10)

Stat:Welcome To The Bioengineering Culture ClashBioengineering, once viewed primarily as an academic discipline, is growing up. Our ability to engineer biology is on the verge of changing the landscape of health and health care. Tools and treatments that are engineered, not discovered CAR-T therapies for cancer, CRISPR for gene editing, stem cell therapies, and more are now making their way not just into new startups but into established industry. Just look at the first-generation CAR-T companies that have been acquired by major biopharma companies, like Bristol-Myers Squibb/Celgene acquiring Juno or Gilead acquiring Kite. (Vijay Pande, 1/10)

The New York Times:Everyone Knows Memory Fails As You Age. But Everyone Is Wrong.Im 62 years old as I write this. Like many of my friends, I forget names that I used to be able to conjure up effortlessly. When packing my suitcase for a trip, I walk to the hall closet and by the time I get there, I dont remember what I came for. And yet my long-term memories are fully intact. I remember the names of my third-grade classmates, the first record album I bought, my wedding day. (Daniel J. Levitin, 1/10)

The Washington Post:A Psychiatrist Feels Guilt For Making A Homeless Man Leave The ER.Tonight was yet another night on call in our emergency room a chilly winter night on which I did a cruel deed: I discharged a homeless man back out into the cold. This is a routine event in the life of psychiatry residents like myself. Normally, no one would bat an eye. It shouldnt have mattered to me, either except that the previous night Id had to walk home from the hospital parking garage in decidedly adverse weather. (Aarya Krishnan Rajalakshmi, 1/12)

The Washington Post:Prince Georges Countys Mental Health Programs Dont Work. When Will Someone Listen?Its Dec. 29, 1 p.m., and Im at a hospital in Prince Georges County. The emergency room is packed with people with varying degrees of illnesses. Many have severe colds; others have flu symptoms. Some have broken ribs or fractures and cuts and bruises from domestic violence (and broken hearts). Sadly, some have come here to die, their families clinging to the hope that this talented yet overwhelmed staff can whip up a miracle. (Sharon K. Vollin, 1/10)

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Viewpoints: Medicaid Expansion Reveals How Liberal Policies Make For Good Politics; Hey, Congress, What's The Hold Up With Surprise Medical Bills? -...

White blood cells: Function, ranges, types, and more – Medical News Today

White blood cells circulate around the blood and help the immune system fight off infections.

Stem cells in the bone marrow are responsible for producing white blood cells. The bone marrow then stores an estimated 8090% of white blood cells.

When an infection or inflammatory condition occurs, the body releases white blood cells to help fight the infection.

In this article, learn more about white blood cells, including the types and their functions.

Health professionals have identified three main categories of white blood cell: granulocytes, lymphocytes, and monocytes. The sections below discuss these in more detail.

Granulocytes are white blood cells that have small granules containing proteins. There are three types of granulocyte cells:

These white blood cells include the following:

Monocytes are white blood cells that make up around 28% of the total white blood cell count in the body. These are present when the body fights off chronic infections.

They target and destroy cells that cause infections.

According to an article in American Family Physician, the normal range (per cubic millimeter) of white blood cells based on age are:

The normal range for a pregnant women in the 3rd trimester is 5,80013,200 per cubic millimeter.

If a person's body is producing more white blood cells than it should be, doctors call this leukocytosis.

A high white blood cell count may indicate the following medical conditions:

Surgical procedures that cause cells to die can also cause a high white blood cell count.

If a person's body is producing fewer white blood cells than it should be, doctors call this leukopenia.

Conditions that can cause leukopenia include:

Doctors may continually monitor white blood cells to determine if the body is mounting an immune response to an infection.

During a physical examination, a doctor may perform a white blood cell count (WBC) using a blood test. They may order a WBC to test for, or rule out, other conditions that may affect white blood cells.

Although a blood sample is the most common approach to testing for white blood cells, a doctor can also test other body fluids, such as cerebrospinal fluid, for the presence of white blood cells.

A doctor may order a WBC to:

The following are conditions that may impact how many white blood cells a person has in their body.

This is a condition wherein a person's body destroys stem cells in the bone marrow.

Stem cells are responsible for creating new white blood cells, red blood cells, and platelets.

This is an autoimmune condition wherein the body's immune system destroys healthy cells, including red and white blood cells.

HIV can decrease the amount of white blood cells called CD4 T cells. When a person's T cell count drops below 200, a doctor might diagnose AIDS.

Leukemia is a type of cancer that affects the blood and bone marrow. Leukemia occurs when white blood cells rapidly produce and are not able to fight infections.

This condition causes a person's body to overproduce some types of blood cells. It causes scarring in a person's bone marrow.

Whether or not a person needs to alter their white blood cell count will depend on the diagnosis.

If they have a medical condition that affects the number of white blood cells in their body, they should talk to a doctor about the goals for their white blood cell count, depending on their current treatment plan.

A person can lower their white blood cell count by taking medications such as hydroxyurea or undergoing leukapheresis, which is a procedure that uses a machine to filter the blood.

If a person's white blood cell count is low due to cancer treatments such as chemotherapy, a doctor may recommend avoiding foods that contain bacteria. This may help prevent infections.

A person can also take colony-stimulating factors. These may help prevent infection and increase the number of white blood cells in the body.

White blood cells are an important part of the body's immune system response. There are different types of white blood cell, and each has a specific function in the body.

Certain conditions can affect the number of white blood cells in the body, causing them to be too high or too low.

If necessary, a person can take medication to alter their white blood cell count.

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White blood cells: Function, ranges, types, and more - Medical News Today

Tacitus Therapeutics Launches in Collaboration with Mount Sinai to Develop Stem Cell Therapies for Life-Threatening Diseases – PRNewswire

NEW YORK, Jan. 9, 2020 /PRNewswire/ -- Tacitus Therapeutics, a clinical-stage company, has launched in collaboration with the Mount Sinai Health System to develop stem cell therapies initially targeting blood cancers and related clotting disorders. Their first therapy, HSC100, currently is being investigated in a Phase I clinical trial1.

Tacitus is building upon technology developed by and exclusively licensed from Mount Sinai. Based on research by scientific co-founders Ronald Hoffman, M.D., and Camelia Iancu-Rubin, Ph.D., the technology includes proprietary cell expansion, differentiation and engineering methods. Together, these methods manufacture healthy cells that overcome the limitations of traditional allogeneic, or donor, cell transplantations.

Blood cancers comprise about 10% of new cancer cases in the U.S. each year, and almost 60,000 people die from blood cancer complications annually. Most blood cancers start in the bone marrow, where blood is produced. A common therapy for such blood cancers is a hematopoietic stem cell (HSC) treatment or, as more commonly referred to, bone marrow transplantation. In this process, doctors infuse healthy HSCs into the patient's bloodstream, where they migrate to the bone marrow to grow or engraft.

HSCs for this process can be collected from bone marrow, circulating blood, or umbilical cord blood (CB) of healthy donors. While HSC transplants are common, significant barriers to success exist, including high levels of graft-versus-host disease, low numbers of healthy cells obtained from CB, and increased risk of bleeding due to delayed megakaryocyte, or platelet, engraftment.

Hoffman and Iancu-Rubin are pioneers of bone marrow cell therapy treatments, and development of this technology was enabled by the New York State Stem Cell Science program, NYSTEM. As a New York State Department of Health initiative, NYSTEM awarded a $1 million grant to Hoffman in 2010 that supported the original research underpinning this platform technology. In 2015, NYSTEM awarded Hoffman and Iancu-Rubin an $8 million grant to translate the technology from the laboratory into the clinic, where it is currently in clinical trial1.

Hoffman also serves as Director of the Myeloproliferative Disorders Research Program and Professor of Medicine (Hematology and Medical Oncology) and Iancu-Rubin is Associate Professor of Pathology at the Icahn School of Medicine and Director of the Cellular Therapy Laboratory at Mount Sinai Hospital.

"Promising discoveries by Mount Sinai scientific thought leaders may lead to new, essential cell-based therapies that will broadly benefit patients," said Erik Lium, Executive Vice President and Chief Commercial Innovation Officer, Mount Sinai Innovation Partners. "We're pleased to be collaborating with Tacitus to launch the next stage of development for these technologies."

"Tacitus is committed in its mission to advance next-generation cell therapies with curative potential," said Carter Cliff, CEO of Tacitus. "Based on our founders' solid foundation of research, we are translating these discoveries into broad clinical practice as we look to dramatically improve the standard of care for patients with life-threatening conditions."

About HSC100

HSC100 is an investigational therapy based on allogeneic hematopoietic stem cells (HSC) expanded from umbilical cord blood. HSC100 is being investigated currently in an open-label Phase I clinical trial1 in the United States for treatment of hematological malignancies. The success of unmanipulated cord blood as a source of stem cells has been hampered by the small number of stem cells present in a single cord, leading to delayed engraftment and frequent graft failure. Our proprietary technology includes the use of an epigenetic modifier, valproic acid, to expand the number and the quality of HSCs found in cord blood collections. For more information on HSC100 clinical trials, please visit http://www.clinicaltrials.gov.

1ClinicalTrials.gov identifier NCT03885947.

About Tacitus Therapeutics

Tacitus Therapeutics is a clinical-stage biotechnology company developing advanced medicines for treatment of blood cancers, immune disorders and other intractable disease conditions. Our mission is to pioneer best-in-class therapies using proprietary cell expansion, differentiation and engineering platform technologies that overcome the limitations of traditional cell transplantation. Initial targets include a lead clinical program (HSC100) investigating the treatment of blood cancers, followed by preclinical programs to address clotting disorders and other serious unmet medical needs. For additional information, please visit http://www.tacitustherapeutics.com.

About Mount Sinai Health System

The Mount Sinai Health System is New York City's largest integrated delivery system, encompassing eight hospitals, a leading medical school, and a vast network of ambulatory practices throughout the greater New York region. Mount Sinai's vision is to produce the safest care, the highest quality, the highest satisfaction, the best access and the best value of any health system in the nation. The Health System includes approximately 7,480 primary and specialty care physicians; 11 joint-venture ambulatory surgery centers; more than 410 ambulatory practices throughout the five boroughs of New York City, Westchester, Long Island, and Florida; and 31 affiliated community health centers. The Icahn School of Medicine is one of three medical schools that have earned distinction by multiple indicators: ranked in the top 20 by U.S. News & World Report's "Best Medical Schools", aligned with a U.S. News & World Report's "Honor Roll" Hospital, No. 12 in the nation for National Institutes of Health funding, and among the top 10 most innovative research institutions as ranked by the journal Nature in its Nature Innovation Index. This reflects a special level of excellence in education, clinical practice, and research. The Mount Sinai Hospital is ranked No. 14 on U.S. News & World Report's "Honor Roll" of top U.S. hospitals; it is one of the nation's top 20 hospitals in Cardiology/Heart Surgery, Diabetes/Endocrinology, Gastroenterology/GI Surgery, Geriatrics, Gynecology, Nephrology, Neurology/Neurosurgery, and Orthopedics in the 2019-2020 "Best Hospitals" issue. Mount Sinai's Kravis Children's Hospital also is ranked nationally in five out of ten pediatric specialties by U.S. News & World Report. The New York Eye and Ear Infirmary of Mount Sinai is ranked 12th nationally for Ophthalmology, Mount Sinai St. Luke's and Mount Sinai West are ranked 23rd nationally for Nephrology and 25th for Diabetes/Endocrinology, and Mount Sinai South Nassau is ranked 35th nationally for Urology. Mount Sinai Beth Israel, Mount Sinai St. Luke's, Mount Sinai West, and Mount Sinai South Nassau are ranked regionally. For more information, visit http://www.mountsinai.org or find Mount Sinai on Facebook, Twitter and YouTube.

About Mount Sinai Innovation Partners (MSIP)

MSIP is responsible for driving the real-world application and commercialization of Mount Sinai discoveries and inventions and the development of research partnerships with industry. Our aim is to translate discoveries and inventions into health care products and services that benefit patients and society. MSIP is accountable for the full spectrum of commercialization activities required to bring Mount Sinai inventions to life. These activities include evaluating, patenting, marketing and licensing new technologies building research, collaborations and partnerships with commercial and nonprofit entities, material transfer and confidentiality, coaching innovators to advance commercially relevant translational discoveries, and actively fostering an ecosystem of entrepreneurship within the Mount Sinai research and health system communities. For more information, please visit http://www.ip.mountsinai.orgor find MSIP onLinkedIn, Twitter, Facebook,Medium, and YouTube.

Media Contacts:

Mount Sinai Cynthia Cleto Mount Sinai Innovation Partners (646) 605-7359 cynthia.cleto@mmsm.edu

Tacitus TherapeuticsJoleen RauRau Communications(608) 209-0792232130@email4pr.com

SOURCE Tacitus Therapeutics

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Tacitus Therapeutics Launches in Collaboration with Mount Sinai to Develop Stem Cell Therapies for Life-Threatening Diseases - PRNewswire