News Article | February 15, 2017
University of Pittsburgh School of Medicine scientists and doctors are embarking on the first-ever clinical trial to determine if a genetic test they pioneered could successfully spare patients with nonaggressive thyroid cancer from complete removal of their thyroid, a butterfly-shaped gland in the neck that is important to hormone regulation and development. Such thyroid-preserving surgery minimizes surgical complications, and many patients also may avoid taking medication every day to keep thyroid hormone levels in check. The two-year trial, which is entirely philanthropically funded by individual donors affected by thyroid cancer, will investigate whether the UPMC-developed molecular genetic test ThyroSeq can correctly differentiate between thyroid cancers most likely to spread and need complete removal of the thyroid gland, and those likely to be far less invasive, warranting a thyroid-preserving surgical approach. “We’re looking at potentially saving patients from unnecessary surgery,” said Linwah Yip, M.D., principal investigator of the trial. “Today we use the most recent developments in cancer genetics to guide treatment for many types of cancers such as breast and colon; we are hoping to safely apply the same approach to thyroid cancer. It’s really exciting to be on the verge of tailoring the extent of thyroid surgery precisely to the aggressiveness of the cancer,” added Yip, an associate professor of surgery in Pitt’s Clinical and Translational Science Institute. About 56,870 cases of thyroid cancer are diagnosed in the U.S. every year, and about 2,010 people die of the disease, according to the American Cancer Society. Under current guidelines of the American Thyroid Association, when patients are diagnosed preoperatively with thyroid cancer, which means a small sample of their thyroid has cancerous cells, they can start by having just half of their thyroid removed. Often, this allows the remaining part of the thyroid to continue functioning naturally without long-term medication. However, a second thyroid operation can then be required if the removed cancer is an aggressive type. Alternatively, under the current guidelines, patients can skip the initial removal of half the thyroid and proceed straight to full removal, but they will definitely need medication for the rest of their lives. “When we get a biopsy result that is positive for cancer before surgery, there are not a lot of tools that we can use to decide with patients which surgery is best,” said Sally E. Carty, M.D., professor of surgery and co-director of the UPMC/University of Pittsburgh Cancer Institute Multidisciplinary Thyroid Center (MTC). “It becomes an educated guess that also is informed by the patient’s preference to either perform a partial removal of the gland and accept a potential repeat surgery if the cancer is found to be aggressive, or to remove the entire thyroid in the initial surgery.” ThyroSeq is a genetic test developed by a scientific team lead by Yuri Nikiforov, M.D., Ph.D., director of UPMC’s Division of Molecular and Genomic Pathology and co-director of the MTC. UPMC’s latest version allows pathologists to simultaneously test 14 genes for 42 markers of thyroid cancer using just a few cells collected during the initial biopsy. The test has performed well at differentiating between cancerous and noncancerous thyroid nodules, already sparing patients from unnecessary surgeries. Over the next two years, Yip and her colleagues plan to enroll about 100 patients who are newly diagnosed with thyroid cancer. Each participant’s biopsy sample will be tested with ThyroSeq to determine whether the cancer has an aggressive or nonaggressive genetic signature. The patients and their doctors can then use that knowledge to decide whether to remove half or the entire thyroid. In addition, the clinical trial also will evaluate the quality-of-life parameters associated with complete removal of the thyroid gland. “I’m particularly passionate about this part of the trial because it will help us to know whether all of our efforts to preserve the thyroid are worth it,” said Yip. “We all want to make sure that patients’ quality of life is considered to truly provide personalized surgical and cancer treatment recommendations.” This trial can be found on ClinicalTrials.gov with the identifier NCT02947035.
News Article | February 28, 2017
PRINCETON, N.J.--(BUSINESS WIRE)--NRG Yield, Inc. (NYSE:NYLD, NYLD.A) today reported full year 2016 financial results including a Net Loss of $15 million, Adjusted EBITDA of $899 million, Cash from Operating Activities of $560 million, and CAFD of $311 million. "NRG Yield finished 2016 strong with exceptional financial results and significant financial flexibility to continue executing on its growth plans in 2017," said Christopher Sotos, NRG Yield's President and Chief Executive Officer. "With today's announcement of both the next drop down and an expanded ROFO pipeline from NRG, NRG Yield stands to continue its dividend growth." Overview of Financial and Operating Results For the fourth quarter of 2016, NRG Yield reported Net Loss of $126 million, Adjusted EBITDA of $207 million, Cash from Operating Activities of $121 million, and CAFD of $62 million. Fourth quarter net loss results were primarily due to $183 million of non-cash asset impairments within NRG Wind TE Holdco at three separate wind projects: Elbow Creek and Goat Wind located in Texas, and Forward Wind located in Pennsylvania, all of which were acquired as part of the drop down assets from NRG Energy, Inc. (NRG) on November 3, 2015. Fourth quarter Adjusted EBITDA results were higher than 2015 primarily due to increased production in the Renewables segment and a $4 million receipt of insurance proceeds from a 2014 wind outage claim. CAFD results were higher than 2015 due to the Adjusted EBITDA impacts referenced above and the acquisition of the remaining 51.05% interest in California Valley Solar Ranch from NRG (CVSR Drop Down Asset). For the twelve months ended December 31, 2016, NRG Yield reported Net Loss of $15 million, Adjusted EBITDA of $899 million, Cash from Operating Activities of $560 million, and CAFD of $311 million. Full year net loss results were impacted by the non-cash asset impairments referenced above. Adjusted EBITDA results were higher than 2015 primarily due to increased wind production in the Renewables segment, full year contributions from the acquisitions of Desert Sunlight and Spring Canyon which closed in 2015, and a $4 million receipt of insurance proceeds from a 2014 wind outage claim. CAFD results were higher than 2015 due to the Adjusted EBITDA impacts referenced above, the CVSR Drop Down Asset, and lower maintenance capital expenditures. In the fourth quarter of 2016, NRG Yield recorded a non-cash impairment loss of $183 million for certain assets acquired from NRG as part of the November 3, 2015 drop down of a 75% interest in NRG Wind TE Holdco, a portfolio of 814 net MWs (the November 2015 Drop Down). The projected CAFD during the contract period and variability during the post-contract period from the November 2015 Drop Down portfolio remains substantially in-line with expectations. The non-cash impairment loss was recorded on the following projects from the November 2015 Drop Down: As the assets are held under common control with NRG, NRG Yield recorded the November 2015 Drop Down at a net asset historical cost of $369 million rather than at fair value as paid in November 2015 of $207 million. Under common control accounting rules, NRG Yield retained the higher asset value and recorded the difference between the net asset historical cost and the fair value purchase price to non-controlling interest. In accordance with GAAP, no impairment was necessary at the time of the drop down. In December 2016, NRG Yield updated its view of long-term power prices and operating plan in post-PPA/contract periods as part of its annual budget process triggering a review for impairment and determined that the cash flows over the projects' remaining useful lives were below their carrying amount (historical cost adjusted for changes over time due to depreciation and maintenance capex additions) resulting in an impairment loss. In the fourth quarter of 2016, generation in the Renewables Segment was above expectations and 5% higher than the fourth quarter of 2015 primarily due to stronger wind resources at Alta Wind in California while the Conventional Segment achieved higher equivalent availability versus the fourth quarter of 2015. In January 2017, the El Segundo Energy Center began a forced outage on Units 5 and 6 due to increasing vibrations on successive operations on Unit 5. In consultation with NRG, the Company's operations and maintenance provider, the Company elected to replace the rotor on Unit 5. Both Unit 5 and 6 returned to service on February 24, 2017. The Company estimates the CAFD impact of the forced outage to be approximately $12 million in 2017 before recovery from warranty or insurance coverage. Total liquidity as of December 31, 2016 was $916 million, an increase of $541 million from December 31, 2015. This reflects an increase in revolver availability of $302 million and an increase in cash of $239 million4 due to the issuance of non-recourse project-level debt at CVSR, issuance of non-recourse project-level debt at Thermal, and the issuance of senior unsecured notes at NRG Yield Operating LLC. Other potential sources of liquidity include the $150 million at-the-market (ATM) facility under which no shares have been issued to date. On January 5, 2017, NRG Energy Center Pittsburgh LLC amended its Energy Services Agreement with the University of Pittsburgh Medical Center (UPMC) Mercy, based on a customer change order, to increase the capacity of the district energy system to 80 MWt. Accordingly, in the first quarter of 2017, NRG Energy Center Minneapolis LLC expects to amend its existing Note Purchase and Private Shelf Agreement to permit the issuance of $10 million of Series F notes. These Series F notes, if issued, will be utilized in addition to the existing, authorized $70 million of Series E notes, to make payments with respect to the UPMC Engineering, Procurement, and Construction (EPC) Agreement. The total payment under the EPC Agreement was also increased from $79 million to approximately $87 million to account for this customer change order. In December 2016, NRG offered the Company the opportunity to purchase the following assets: (i) the Minnesota Portfolio, a 40 MW portfolio of wind projects; (ii) the 30 MW Community wind project; (iii) the 50 MW Jeffers wind projects; and (iv) a 16% interest in the 290 MW Agua Caliente solar project, pursuant to the ROFO Agreement. In addition to these ROFO Assets, NRG also offered the Company the opportunity to purchase NRG's 50% interests in seven utility-scale solar projects located in Utah, representing 265 net MW of capacity5 that were part of NRG's recent acquisition of projects from SunEdison. On February 24, 2017, the Company entered into a definitive agreement to acquire the Agua Caliente and Utah utility-scale solar projects (311 net MW) from NRG for cash consideration of $130 million, plus assumed non-recourse project debt of approximately $464 million6, excluding adjustments for working capital. Details of the projects include: The Company elected not to pursue the acquisition of the Minnesota, Community, and Jeffers wind projects at this time, but may continue its evaluation of the projects. The Company has retained the right with NRG, pursuant to the ROFO Agreement, to participate in any process to the extent NRG elected to pursue a third party sale of these assets. In connection with the execution of the definitive agreement, the Company and NRG entered into an amendment to the ROFO Agreement to expand the NRG ROFO pipeline with the addition of 234 net MW of utility-scale solar projects that NRG acquired as part of the SunEdison transaction. These assets include: The purchase price for the drop down transaction will be funded entirely with cash on hand and is expected to increase CAFD on an annual basis by approximately $13.3 million9. The transaction is expected to close within the next 60 days and the Company expects to record its interests in the acquired projects as equity method investments. During the fourth quarter of 2016, NRG Yield invested $2 million and $12 million in the distributed solar investment partnerships, residential and business renewables, respectively, with NRG. Following these contributions, NRG Yield has invested $170 million in the partnerships and co-owns approximately 131 MW10 of distributed solar capacity with a weighted average contract life of approximately 19 years. As of December 31, 2016, the Company has no further funding commitments to the existing residential solar partnership and has $66 million remaining to be funded under the existing business renewables partnerships. On February 15, 2017, NRG Yield’s Board of Directors declared a quarterly dividend on Class A and Class C common stock of $0.26 per share ($1.04 per share annualized) payable on March 15, 2017, to stockholders of record as of March 1, 2017. This equates to a 4% increase over the prior quarter and an increase of 16.3% over the previous year. NRG Yield’s quarterly operating results are impacted by seasonal factors as well as variability in renewable energy resource. The majority of NRG Yield’s revenues are generated from the months of May through September, as contracted pricing and renewable resources are at their highest levels in the Company’s core markets. The factors driving the fluctuation in Net Income, Adjusted EBITDA, Cash from Operating Activities, and CAFD include the following: The Company takes into consideration the timing of these factors to ensure sufficient funds are available for distribution on a quarterly basis. NRG Yield is reconfirming 2017 full year financial guidance. However, the full year financial guidance reflects neither the impact of the aforementioned outage at El Segundo Energy Center nor the drop down transaction announced today. Upon closing of the drop down transaction, the Company will provide an update to full year guidance. NRG Yield is targeting dividend per share growth of 15% annually on each of its Class A and Class C common stock through 2018. On February 28, 2017, NRG Yield will host a conference call at 9:15 a.m. Eastern to discuss these results. Investors, the news media and others may access the live webcast of the conference call and accompanying presentation materials by logging on to NRG Yield’s website at http://www.nrgyield.com and clicking on “Presentations & Webcasts.” NRG Yield owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the United States, including fossil fuel, solar and wind power generation facilities that provide the capacity to support more than two million American homes and businesses. Our thermal infrastructure assets provide steam, hot water and/or chilled water, and in some instances electricity, to commercial businesses, universities, hospitals and governmental units in multiple locations. NRG Yield’s Class C and Class A common stock are traded on the New York Stock Exchange under the symbols NYLD and NYLD.A, respectively. Visit www.nrgyield.com for more information. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include our Net Income, Adjusted EBITDA, Cash from Operating Activities, cash available for distribution, expected earnings, future growth and financial performance, and typically can be identified by the use of words such as “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG Yield believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated herein include, among others, general economic conditions, hazards customary in the power industry, weather conditions, including wind and solar performance, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation, the condition of capital markets generally, our ability to access capital markets, unanticipated outages at our generation facilities, adverse results in current and future litigation, failure to identify or successfully execute acquisitions, our ability to enter into new contracts as existing contracts expire, our ability to acquire assets from NRG Energy, Inc. or third parties, our ability to maintain or create successful partnering relationships with NRG Energy and other third parties, our ability to close Drop Down transactions, and our ability to maintain and grow our quarterly dividends. Furthermore, any dividends are subject to available capital, market conditions, and compliance with associated laws and regulations. NRG Yield undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The Adjusted EBITDA and Cash Available for Distribution are estimates as of today’s date, February 28, 2017, and are based on assumptions believed to be reasonable as of this date. NRG Yield expressly disclaims any current intention to update such guidance. The foregoing review of factors that could cause NRG Yield’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG Yield’s future results included in NRG Yield’s filings with the Securities and Exchange Commission at www.sec.gov. In addition, NRG Yield makes available free of charge at www.nrgyield.com, copies of materials it files with, or furnish to, the SEC. 1 In accordance with GAAP, 2016 and 2015 results have been recast to include the California Valley Solar Ranch (CVSR) Drop Down Asset as if the combination had been in effect from the beginning of the financial statement period 2 In accordance with GAAP, 2016 and 2015 results have been recast to include the CVSR Drop Down Asset as if the combinations had been in effect from the beginning of the financial statement period 4 See Appendix A-6 for Twelve Months Ended December 31, 2016. Sources and Uses of Cash and Cash Equivalents detail 5 Reflects NRG's net interest based on cash to be distributed in tax equity partnership with Dominion 6 Approximately $328 million on balance sheet and $136 million pro-rata share of unconsolidated debt 7 Reflects 110 MW related to three solar projects acquired by NRG, net of 30 MW that are not subject to the ROFO Agreement 8 61 of the 80 MWs have been contracted as of February 28, 2017 9 CAFD average over the 5-year period from 2018-2022 10 Based on cash to be distributed; includes 14 MW of residential solar leases acquired outside of partnership EBITDA and Adjusted EBITDA are non-GAAP financial measures. These measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. The presentation of Adjusted EBITDA should not be construed as an inference that NRG Yield’s future results will be unaffected by unusual or non-recurring items. EBITDA represents net income before interest (including loss on debt extinguishment), taxes, depreciation and amortization. EBITDA is presented because NRG Yield considers it an important supplemental measure of its performance and believes debt and equity holders frequently use EBITDA to analyze operating performance and debt service capacity. EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Some of these limitations are: Because of these limitations, EBITDA should not be considered as a measure of discretionary cash available to use to invest in the growth of NRG Yield’s business. NRG Yield compensates for these limitations by relying primarily on our GAAP results and using EBITDA and Adjusted EBITDA only supplementally. See the statements of cash flow included in the financial statements that are a part of this news release. Adjusted EBITDA is presented as a further supplemental measure of operating performance. Adjusted EBITDA represents EBITDA adjusted for mark-to-market gains or losses, asset write offs and impairments; and factors which we do not consider indicative of future operating performance. The reader is encouraged to evaluate each adjustment and the reasons NRG Yield considers it appropriate for supplemental analysis. As an analytical tool, Adjusted EBITDA is subject to all of the limitations applicable to EBITDA. In addition, in evaluating Adjusted EBITDA, the reader should be aware that in the future NRG Yield may incur expenses similar to the adjustments in this news release. Management believes Adjusted EBITDA is useful to investors and other users of our financial statements in evaluating our operating performance because it provides them with an additional tool to compare business performance across companies and across periods. This measure is widely used by investors to measure a company’s operating performance without regard to items such as interest expense, taxes, depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired. Additionally, Management believes that investors commonly adjust EBITDA information to eliminate the effect of restructuring and other expenses, which vary widely from company to company and impair comparability. As we define it, Adjusted EBITDA represents EBITDA adjusted for the effects of impairment losses, gains or losses on sales, dispositions or retirements of assets, any mark-to-market gains or losses from accounting for derivatives, adjustments to exclude the Adjusted EBITDA related to the non-controlling interest, gains or losses on the repurchase, modification or extinguishment of debt, and any extraordinary, unusual or non-recurring items plus adjustments to reflect the Adjusted EBITDA from our unconsolidated investments. We adjust for these items in our Adjusted EBITDA as our management believes that these items would distort their ability to efficiently view and assess our core operating trends. In summary, our management uses Adjusted EBITDA as a measure of operating performance to assist in comparing performance from period to period on a consistent basis and to readily view operating trends, as a measure for planning and forecasting overall expectations and for evaluating actual results against such expectations, and in communications with our Board of Directors, shareholders, creditors, analysts and investors concerning our financial performance. Cash Available for Distribution (CAFD) is adjusted EBITDA plus cash distributions from unconsolidated affiliates, cash receipts from notes receivable, less cash distributions to noncontrolling interests, maintenance capital expenditures, pro-rata adjusted EBITDA from unconsolidated affiliates, cash interest paid, income taxes paid, principal amortization of indebtedness, and changes in prepaid and accrued capacity payments. Management believes cash available for distribution is a relevant supplemental measure of the Company’s ability to earn and distribute cash returns to investors. We believe cash available for distribution is useful to investors in evaluating our operating performance because securities analysts and other interested parties use such calculations as a measure of our ability to make quarterly distributions. In addition, cash available for distribution is used by our management team for determining future acquisitions and managing our growth. The GAAP measure most directly comparable to cash available for distribution is cash from operating activities. However, cash available for distribution has limitations as an analytical tool because it does not include changes in operating assets and liabilities and excludes the effect of certain other cash flow items, all of which could have a material effect on our financial condition and results from operations. Cash available for distribution is a non GAAP measure and should not be considered an alternative to cash from operating activities or any other performance or liquidity measure determined in accordance with GAAP, nor is it indicative of funds available to fund our cash needs. In addition, our calculations of cash available for distribution are not necessarily comparable to cash available for distribution as calculated by other companies. Investors should not rely on these measures as a substitute for any GAAP measure, including cash from operating activities.
News Article | February 15, 2017
The Children’s Institute of Pittsburgh has promoted physiatrist Justin Berthold, DO to its leadership team as Senior Medical Director. In his new role, Dr. Berthold will direct all medical and clinical services provided at The Children’s Institute. Dr. Berthold joined the physical medicine and rehabilitation team at The Children’s Institute of Pittsburgh in 2015. Since then, he has been providing inpatient and outpatient physical medicine and rehabilitation services to adolescent and young adult patients, and serving as medical director of Physical Medicine and Rehabilitation services. “Dr. Berthold brings extensive clinical expertise, strong leadership and unmatched commitment to our children and families,” said David Miles, president and chief executive officer, The Children’s Institute. “In addition to maintaining his patient care responsibilities, Dr. Berthold will lead our dedicated medical team that provides high-quality care to children and young adults with medically complex conditions. Under his leadership, we’ll also continue to advance therapeutic interventions and treatment methods for children by employing new techniques and technology.” Dr. Berthold is a graduate of Lake Erie College of Osteopathic Medicine and completed his residency at the UPMC Physical Medicine and Rehabilitation program. He is also a member of numerous osteopathic medicine associations including the American Osteopathic Association, and is board certified through the American Board of Physical Medicine and Rehabilitation. Prior to joining The Children’s Institute, Dr. Berthold founded the private practice Rehabilitation Physicians of Pittsburgh. He also serves as a consultant for Golden Living Skilled Nursing Centers. In addition, Dr. Berthold is the team physician for the Pittsburgh Vengeance Junior A Ice Hockey team and is currently on the clinical faculty at Lake Erie College of Osteopathic Medicine at Seton Hill. About The Children’s Institute Established in 1902, The Children’s Institute is an independent, nonprofit, licensed organization, dedicated to improving the quality of life for children, young people and their families by providing a specialized continuum of services that enables them to reach their potential. Its pediatric rehabilitation programs are nationally-recognized. The Children’s Institute is the only CARF-accredited freestanding pediatric specialty rehabilitation hospital in Pennsylvania, and one of only five in the nation. The Day School is an approved private school serving nearly 200 students from 67 school districts. Through Project STAR, The Children’s Institute offers a wide array of family-centered adoption and foster care services. Visit http://www.amazingkids.org or call 412-420-2400 to learn more.
News Article | March 1, 2017
PITTSBURGH, March 1, 2017 - A telephone-delivered collaborative care program for treating panic and generalized anxiety disorders in primary care is significantly more effective than doctors' usual care at improving health-related quality of life, anxiety and mood symptoms, according to a new study led by researchers at the University of Pittsburgh School of Medicine. These findings from the National Institutes of Health-funded Reduce Limitations from Anxiety (RELAX) trial were published in the March issue of the Journal of General Internal Medicine. Researchers enrolled 329 patients 18 to 64 years old who were referred by their primary care physicians from six UPMC-affiliated practice locations. Approximately 250 patients were rated "highly anxious" and randomized to either the telephone-delivered intervention or to their primary care physician's usual care. The 79 other patients with "moderate" levels of anxiety symptoms were assigned to a "watchful waiting" group and later randomized if their anxiety symptoms worsened. A study care manager regularly called patients in the intervention group to provide basic psycho-education; encourage healthy habits (sleep, exercise, avoid excess alcohol); assess treatment preferences for anti-anxiety medications; monitor response to treatment; and inform their primary care physicians of their care preference and progress. At 12-months follow-up, anxiety symptoms remitted in 53 percent of intervention patients versus only 32 percent in patients who continued to receive their primary care physicians' usual care, and the intervention also produced similar significant improvements in health-related quality of life, panic and mood symptoms. These benefits persisted for another year after the intervention ended. African-Americans and men reported the greatest levels of improvement, and the 79 patients who reported moderate levels of anxiety at baseline generally did well over the course of follow-up, whether they were later randomized to the study intervention or not. "While dozens of clinical trials have demonstrated the effectiveness of collaborative care for treating depression in primary care, comparatively few have addressed anxiety, despite their similar prevalence and adverse impact on health-related quality of life and excess utilization of health services," said Bruce L. Rollman, M.D., M.P.H., professor of medicine and director of Pitt's Center for Behavioral Health and Smart Technology. "Effective collaborative care for anxiety can be provided via telephone by college-educated, non-mental health care managers who follow an evidence-based treatment algorithm and work under the direction of a primary care physician." Others involved in the study include Bea Herbeck Belnap, Ph.D., Sati Mazumdar, Ph.D., Kaleab Abebe, Ph.D., and Jordan F. Karp, M.D., all of Pitt; Eric Lenze, M.D., Washington University School of Medicine in St. Louis; and Herbert Schulberg, Weill Cornell Medical College in White Plains, New York. About the University of Pittsburgh School of Medicine As one of the nation's leading academic centers for biomedical research, the University of Pittsburgh School of Medicine integrates advanced technology with basic science across a broad range of disciplines in a continuous quest to harness the power of new knowledge and improve the human condition. Driven mainly by the School of Medicine and its affiliates, Pitt has ranked among the top 10 recipients of funding from the National Institutes of Health since 1998. In rankings recently released by the National Science Foundation, Pitt ranked fifth among all American universities in total federal science and engineering research and development support. Likewise, the School of Medicine is equally committed to advancing the quality and strength of its medical and graduate education programs, for which it is recognized as an innovative leader, and to training highly skilled, compassionate clinicians and creative scientists well-equipped to engage in world-class research. The School of Medicine is the academic partner of UPMC, which has collaborated with the University to raise the standard of medical excellence in Pittsburgh and to position health care as a driving force behind the region's economy. For more information about the School of Medicine, see http://www. . A $14 billion world-renowned health care provider and insurer, Pittsburgh-based UPMC is inventing new models of patient-centered, cost-effective, accountable care. UPMC provides nearly $900 million a year in benefits to its communities, including more care to the region's most vulnerable citizens than any other health care institution. The largest nongovernmental employer in Pennsylvania, UPMC integrates 65,000 employees, more than 25 hospitals, 600 doctors' offices and outpatient sites, and a more than 3 million-member Insurance Services Division, the largest medical and behavioral health services insurer in western Pennsylvania. Affiliated with the University of Pittsburgh Schools of the Health Sciences, UPMC ranks No. 12 in the prestigious U.S. News & World Report annual Honor Roll of America's Best Hospitals. UPMC Enterprises functions as the innovation and commercialization arm of UPMC while UPMC International provides hands-on health care and management services with partners in 12 countries on four continents. For more information, go to UPMC.com.
News Article | March 2, 2017
PARIS, March 02, 2017 (GLOBE NEWSWIRE) -- BIOPHYTIS (Alternext Paris:ALBPS), a biotechnology company specializing in the development of drug candidates to treat diseases of ageing, announces today the complete results of the SARA-PK study, in particular the favorable pharmacokinetics and pharmacodynamics of Sarconeos. The analyses confirm the good pharmacokinetic profile in healthy elderly volunteers, the therapeutic window of Sarconeos, and confirms the dosages that will be tested in the Phase 2b trial SARA-INT. The study’s complete results will be presented at the International ICFSR on April 28th in Barcelona. Stanislas Veillet, CEO of BIOPHYTIS, declares: “The analysis of the complete results of the SARA-PK trial confirms Sarconeos’ good pharmacokinetic profile and allows us to determine the doses that will be tested in the Phase 2b study, SARA-INT, which we hope to start in mid-2017. These data will be used now to complete the regulatory filings required for the authorizations to start in U.S. and Europe SARA-INT, the interventional Phase 2b trial in sarcopenia patients." Safety data collected at the end of SARA-PK had already confirmed the good tolerability profile and the absence of any serious adverse event associated with the administration of Sarconeos. These safety results had already been presented at the 9th international conference on Cachexia, Sarcopenia and muscle Wasting Disease (SCWD) held in Berlin last December. The complete results of the SARA-PK study, in particular the pharmacokinetic profile of the Sarconeos product, have now been analyzed and top-line data are being communicated today for the first time. The main parameters of the pharmacokinetics (half-life, area under curve, maximum plasma concentration of the product, etc.) have been estimated, allowing the confirmation of Sarconeos’ good pharmacokinetic profile in healthy elderly volunteers, which is not significantly different from the profile observed in adult volunteers. The qualitative study of biomarkers of muscular metabolism (creatine kinase, myoglobin, etc.) and of the renin-angiotensin system (renin, adolsterone, etc.) gathered at the end of the trial, allows for the description of Sarconeos’ pharmacodynamic profile. The study of Sarconeos’ effects on these biomarkers in SARA-INT should allow the confirmation of these patterns. The complete analysis of the safety, pharmacokinetic and pharmacodynamic data allows the confirmation of Saconeos’ favorable therapeutic window and the selection of the two doses which will be tested in the placebo-controlled Phase 2b SARA-INT trial, provided it is authorized by the relevant regulatory agencies. The selected oral doses are: 175 mg twice-daily and 350mg twice-daily. The complete results of the SARA-PK study will be presented in an oral presentation at the ICFSR (International Conference on Frailty & Sarcopenia Research), which will take place in Barcelona from April 27th to 29th of. The title of the presentation will be: “SARA-PK: A single and multiple ascending oral doses study to assess the safety and evaluate the pharmacokinetics of BIO101 in healthy young and older volunteers”. An abstract of the presentation also will be published in a special edition of the scientific review The Journal of Frailty & Aging. About SARA-PK: The objective of the SARA-PK study was to evaluate safety, tolerance and the pharmacokinetic profile of Sarconeos in healthy elderly volunteers (>65 years). The study was carried out in two phases: the administration of a single ascending dose (SAD), and multiple ascending doses (MAD). The second stage of the study – MAD (multiple ascending doses) – which has just been reached, had as its objective the evaluation of the safety, tolerance and pharmacokinetics of Sarconeos in subjects aged 30, after the oral administration of 3 multiple ascending doses (350mg/day, 700 mg/day then 900 mg/day) every day over 14 days. Both phases of the SARA-PK study were carried out successfully. About BIOPHYTIS: BIOPHYTIS SA (www.biophytis.com), founded in 2006, develops drug candidates targeting diseases of aging. Using its technology and know-how, BIOPHYTIS has discovered and begun clinical development of innovative therapeutics to restore the muscular and visual functions in diseases with significant unmet medical need. Specifically, the company is advancing two lead products into mid-stage clinical testing next year: Sarconeos (BIO101) to treat sarcopenic obesity and Macuneos (BIO201) to treat dry age-related macular degeneration (AMD). Located on the Pierre et Marie Curie University (UPMC) campus in Paris, BIOPHYTIS also collaborates with scientists at the Institute of Myology, and the Vision Institute. BIOPHYTIS is listed on the Alternext market of Euronext Paris (ALBPS; ISIN: FR0012816825). For more information: http://www.biophytis.com BIOPHYTIS is eligible for the SMEs scheme. Disclaimer This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the Company's actual results, financial condition, performance or achievements to differ from those contained in the forward looking statements, please refer to the Risk Factors (“Facteurs de Risque”) section of the Listing Prospectus upon the admission of Company’s shares for trading on the regulated market Alternext of Euronext Paris filed with the AMF, which is available on the AMF website (www.amf-france.org) or on BIOPHYTIS’ website (www.biophytis.com). This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in BIOPHYTIS in any country. Items in this press release may contain forward-looking statements involving risks and uncertainties. The Company’s actual results could differ substantially from those anticipated in these statements owing to various risk factors which are described in the Company’s prospectus. This press release has been prepared in 5 both French and English. In the event of any differences between the two texts, the French language version shall supersede.
Upmc | Date: 2011-02-07
An apparatus includes a container and a content identification device providing an audible identification of the contents of the container. The container can be included in an automatic dispensing system. A method is also provided. The method includes providing a container, and producing an audible identification of contents of the container in response to one of: opening the container, a request to access the contents of the container, or actual access of the contents of the container by a user.
Upmc | Date: 2012-07-06
A system and method for improved viewing and navigation of large digital images, such as whole slide images used in microscopy. The system and method displays the digital image along with movable navigation and field of view boxes that enable a viewer to pan the digital image in an accurate manner, and also performs automatic absolute reorientation of the digital image and automatic relative reorientation of subsequent digital images in relation to the first digital image.
Upmc | Date: 2015-02-19
A system for processing healthcare information includes: a patient clinical context module including a patient-user relationship model, a medical knowledge database, and an applied workflow execution model; the patient clinical context module being configured to retrieve information from a plurality of data sources and to use the patient-user relationship model, the medical knowledge database, and the applied workflow execution model to produce output information relevant to a patient; and a user display configured to display the output information in a longitudinal view of health data for the patient aggregated from the plurality of data sources. A method for processing healthcare information that can be implemented by the system is also disclosed.
Upmc | Date: 2013-01-03
An apparatus includes a computer system programmed to retrieve information from a plurality of data sources; the computer system including a plurality of vault query services; an adapter for each of the data sources, each adapter translating an interface for one of the data sources to a vault query service interface; and a cross-vault query service providing an interface for data communication between an application program and the plurality of vault query services; and a user display for displaying the information retrieved from the data sources in response to a query from the application program.
Upmc | Date: 2014-06-09
A method for processing healthcare information includes: receiving information related to a patient and a plurality of providers involved with caring for the patient; using the information to generate patient centered provider graphs that describe relationships among the patient and the plurality of providers and include an indication of provider availability within a clinical situation; and presenting the graphs to a plurality of uses. An apparatus that is used to practice the method is also provided.