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<ul class="summary-list"><li>Vaccine developer <keyword id="11832428" type="UNKNOWN" weightage="60" keywordseo="greenlight-biosciences">GreenLight Biosciences</keyword> is going public through a $1.5 billion SPAC deal, according to a Wall Street Journal report.</li><li>The company is developing its own COVID-19 vaccine for clinical trials in Africa next year.</li><li>The SPAC deal comes as interest in such blank-check arrangements has diminished in recent months.</li></ul>Vaccine developer GreenLight Biosciences is going public through a $1.5 billion SPAC deal, according to a <a href="https://www.wsj.com/articles/rna-tech-firm-greenlight-biosciences-to-go-public-in-1-5-billion-spac-deal-11628586000">new report by The Wall Street Journal</a>.GreenLight works with <keyword id="130094" type="ORGANIZATION" weightage="60" keywordseo="RNA">RNA</keyword> technology, the sort underpinning the <a href="https://markets.businessinsider.com/stocks/pfe-stock">Pfizer</a>-<a href="https://markets.businessinsider.com/stocks/bntx-stock">BioNTech</a> and <a href="https://markets.businessinsider.com/stocks/mrna-stock">Moderna</a> <keyword id="79555" type="TECHNOLOGY" weightage="60" keywordseo="Vaccines">vaccines</keyword>. Investors in the deal, which involves GreenLight combining with a SPAC called Environmental Impact Acquisition Corp., include <a href="https://markets.businessinsider.com/stocks/bnpqf-stock">BNP Paribas</a> and an environmental trust owned by Jeremy Grantham."This is a company we believe will be transformative," CEO Andrey Zarur told the Journal.GreenLight is developing its own COVID-19 vaccine for clinical trials in Africa next year, on the theory that vaccine deployment bottlenecks will require the participation of a wide array of <keyword id="45082" type="PERSON" weightage="60" keywordseo="biotech">biotech</keyword> companies."It is in the self-interest of biotechnology and pharmaceutical companies to cooperate on the production of COVID-19 vaccines," Zarur wrote in a <a href="https://www.statnews.com/2021/01/14/businesses-across-the-supply-chain-must-work-together-to-produce-covid-19-vaccines/">January op-ed</a>. Although the largest ones stand to profit handsomely under the current set up, if they don't move quickly enough … these companies will be quickly transformed from heroes to villains."GreenLight is also working on other RNA-based products such as pesticides and herbicides, marketing them as more environmentally sustainable. The company is also eyeing a messenger RNA flu shot, an area of <a href="https://www.wsj.com/articles/the-next-target-for-mrna-vaccines-after-covid-19-the-flu-11627041601?mod=article_inline">growing interest</a> for <keyword id="6363818" type="UNKNOWN" weightage="60" keywordseo="Pharma">pharma</keyword> companies given the success of the mRNA COVID-19 vaccines.The SPAC deal comes as interest in such blank-check arrangements has <a href="https://markets.businessinsider.com/news/stocks/spac-issuance-collapse-deals-ipos-stocks-market-bespoke-investment-2021-4">diminished in recent months</a>. As some high-profile <a href="https://markets.businessinsider.com/news/stocks/spac-pharma-stock-blank-check-deal-roviant-immunovant-2021-08">SPACs have imploded</a> or <a href="https://markets.businessinsider.com/news/stocks/spac-fraud-space-sec-momentus-gary-gensler-stable-road-2021-07">fallen afoul of regulators</a>, investors have increasingly shied away from the space.

Vaccine developer GreenLight is going public in a $1.5 billion SPAC deal

<ul><li>Despite warnings about an ongoing bubble in the <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword>, <keyword id="11893883" type="UNKNOWN" weightage="60" keywordseo="jeremy-grantham" source="Orion">Jeremy Grantham</keyword> is staying invested in one of the most speculative areas of the market.</li><li>Grantham has invested much of his wealth in green investments and made big money in profitless companies like QuantumScape.</li><li>"There may be a bubble that will affect this for a year or two, but it will come back bigger and better than other groups," Grantham told Bloomberg.</li></ul>Billionaire investor Jeremy Grantham has been <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-investing-legend-jeremy-grantham-bubble-crazy-rally-2020-11">warning about a bubble in stocks for years,</a> but that hasn't stopped him from investing in one of the most speculative areas of the market known for being years away from profitability.For years, he has been putting much of his wealth in green investments that are tackling the big problem of climate change — and in the process, he's made a lot of money.It's an unexpected path for a long-time value investor who is often more focused on cash flows, profits, and valuations rather than the long-term potential of a technology. Now, Grantham is investing in risky green-focused SPACs and early-stage venture capital that has no doubt benefited from the ongoing rise in stock market valuations.In other words, he is benefiting from the same thing <a href="https://markets.businessinsider.com/news/stocks/jeremy-grantham-stock-market-outlook-meme-bubble-when-to-buy-2021-6">he has been worried about for years</a>: a potential <keyword id="11955087" type="UNKNOWN" weightage="60" keywordseo="stock-market-bubble" source="Orion">stock market bubble</keyword>. But given the threat of climate change — represented by ongoing wildfires, floods, and extreme weather events — along with the likely response from policymakers in the form of carbon taxes and other climate-friendly legislation, the investments make sense to Grantham."This is going on as far as the eye can see. It's an unfair advantage for <keyword id="12313306" type="UNKNOWN" weightage="60" keywordseo="green-investing" source="Orion">green investing</keyword>. There may be a bubble that will affect this for a year or two, but it will come back bigger and better than other groups because of this tailwind. This is going to be the most important investment theme for the rest of your life," he <a href="https://www.bloomberg.com/news/articles/2021-11-15/what-is-jeremy-grantham-betting-on-bubble-or-not-he-s-into-green-investing">told Bloomberg.</a>About half of the $1.4 billion in assets Grantham manages across a foundation, charitable trust, and his personal holdings is slated for green venture investments, according to Bloomberg. In particular, he said he is looking for "neglected climate opportunities" that "have the potential to change the world."The investments made by Grantham are paying off. Over the past decade, he said his venture-capital portfolio has returned 19% annually, helped in part by a 102% surge in 2020. The gains were driven by an early-stage $12.5 million investment in <a href="https://markets.businessinsider.com/stocks/qs-stock">QuantumScape</a>, which went public via SPAC last year and <a href="https://markets.businessinsider.com/news/stocks/jeremy-grantham-accidental-millions-profit-quantumscape-spac-blank-check-deal-2020-12">delivered a surprise windfall for Grantham.</a>His second-largest direct investment is Greenlight Biosciences, which is working to turn RNA molecules into an environmentally friendly alternative to pesticides. Greenlight said in August it's going public via a SPAC merger.But many of Grantham's early green investments didn't pan out, and he's banking on a few big wins to make up for many small losses, a common strategy in early-stage investing."We expect to have many failures, but when we win, we expect it to be a very big win," Grantham said. And while he is bullish on green investments, <a href="https://markets.businessinsider.com/news/stocks/jeremy-grantham-tesla-stock-price-bubble-inflation-fed-market-crash-2021-11">one green stock he's avoiding is Tesla,</a> which he believes is, you guessed it, in a bubble.

Jeremy Grantham keeps warning investors about a bubble in green stocks — but he's staying invested as his holdings soar

<ul class="summary-list"><li>Treating COVID-19 could be simpler soon, thanks to the next generation of treatments.</li><li>These could come in the form of <keyword id="12258955" type="UNKNOWN" weightage="60" keywordseo="pills" source="Orion">pills</keyword>, nasal sprays, or inhalers.</li><li>On Monday, Merck asked the FDA to authorize its <keyword id="12216042" type="UNKNOWN" weightage="60" keywordseo="antiviral" source="Orion">antiviral</keyword> pill, which would be the first <keyword id="11959748" type="UNKNOWN" weightage="60" keywordseo="covid-19-treatment" source="Orion">COVID-19 treatment</keyword> of its kind. </li></ul>COVID-19 could get a lot easier to treat in the near future.Thus far, doctors have relied on expensive, invasive drugs that are limited in supply and often complicated to administer. But biotech and pharma companies are now working on simpler treatments that people could take as pills, nasal sprays, or inhalers. An antiviral drug from Merck and Ridgeback Biotherapeutics is on track to become the first pill authorized to treat COVID-19. On Monday, the companies asked the Food and Drug Administration (FDA) to <a href="https://www.businessinsider.com/merck-covid-pill-fda-eua-authorization-antiviral-molnupiravir-drug-ridgeback-2021-10v">authorize that treatment</a>, which was found to reduce the risk of hospitalization or death among adults with mild to moderate COVID-19. If the FDA thinks the data is sound enough, it could greenlight the pill within weeks. So far, the FDA has fully approved just one treatment for COVID-19: the antiviral drug remdesivir, which is administered via injection. The drug has been shown to <a href="https://www.nejm.org/doi/full/10.1056/nejmoa2007764">shorten the recovery time</a> of hospitalized patients.The FDA also authorized the emergency use of <a href="https://www.businessinsider.com/tennessee-vaccinated-denied-monoclonal-antibody-treatment-2021-9">monoclonal antibodies</a>, drugs that help keep people with mild or moderate symptoms from developing severe COVID-19. These come in two forms: infusions or injections.Pills or sprays, however, could make it easier for people to treat COVID-19 symptoms right away, perhaps without needing to visit hospitals. Pills are also likely to be cheaper than antibody infusions, which are free for patients but cost the US government <a href="https://www.npr.org/sections/health-shots/2020/10/28/928841997/government-signs-deal-for-covid-19-treatments-from-eli-lilly">more than $1,000 per dose</a>.The following drugs have shown the most promise in trials as potential COVID-19 treatments. None of them is a replacement for vaccines, though.<h2>Antiviral pills could lower the risk of hospitalization</h2><div type="image" title="Capsules of molnupiravir, an antiviral drug developed by Merck and Ridgeback Biotherapeutics that could treat COVID-19" height="2002" width="3000" msid="86820470" hostid="261"></div>Warding off severe COVID-19 could eventually be as simple as taking a few pills.Merck's antiviral, molnupiravir, was originally developed as a treatment for the flu. Now it's being evaluated for mild to moderate COVID-19 in a study of nearly 1,900 volunteers. So far, the pill has <a href="https://www.businessinsider.com/merck-covid-pill-fda-eua-authorization-antiviral-molnupiravir-drug-ridgeback-2021-10">halved the risk</a> of hospitalization or death among a group of 385 people, Merck <a href="https://www.merck.com/news/merck-and-ridgebacks-investigational-oral-antiviral-molnupiravir-reduced-the-risk-of-hospitalization-or-death-by-approximately-50-percent-compared-to-placebo-for-patients-with-mild-or-moderat/">announced earlier this month</a>. The participants took 40 pills in total: four capsules twice a day for five days.The pill belongs to a class of antiviral drugs called nucleosides, which try to block the virus from replicating inside cells.Two other companies, <keyword id="11909248" type="UNKNOWN" weightage="60" keywordseo="roche" source="Orion">Roche</keyword> and Atea Pharmaceuticals, are also jointly developing a nucleoside pill. That drug, called AT-527, was shown to <a href="https://ir.ateapharma.com/news-releases/news-release-details/ateas-527-oral-antiviral-drug-candidate-reduces-viral">reduce the amount of virus present</a> in hospitalized patients with moderate COVID-19. The study was small, though - around 60 people - so Roche is waiting on data from a study of nearly 1,400 people, which could be available before the end of the year.<h2>Not all prospective COVID-19 pills are the same</h2>Other companies are developing antiviral pills called protease inhibitors, which target an enzyme involved in the viral replication process.<keyword id="11897118" type="UNKNOWN" weightage="60" keywordseo="pfizer" source="Orion">Pfizer</keyword> is testing such a drug in combination with a low dose of another antiviral that slows the breakdown of the drug so it lasts longer in the body. The company kicked off a 3,000-person study in July and hopes to get data before the end of 2021.Meanwhile, a protease inhibitor from Japanese drugmaker Shionogi could help people with mild or asymptomatic infections. The company <a href="https://www.shionogi.com/global/en/news/2021/09/e-210928.html">began a late-stage study in September</a>. Two smaller biotech companies - Pardes Biosciences and Enanta Pharmaceuticals - are working on their own protease inhibitors, but they're far from late-stage studies. Pardes launched a 110-person trial in August, and those results could be ready by the end of the year. Enanta hopes to start initial testing of its pill in people in early 2022. The company previously developed a treatment for hepatitis C.<h2>Nasal sprays may be useful immediately after exposure to the virus</h2><div type="image" title="covid nasal spray" height="4024" width="6048" msid="86820473" hostid="261"></div>The <keyword id="11893194" type="UNKNOWN" weightage="60" keywordseo="coronavirus" source="Orion">coronavirus</keyword> first invades the body through the nose, eyes, and throat, so scientists think there's an advantage to administering treatments directly into those areas. Nasal sprays, for instance, could kill or weaken the virus in the upper airways, before it spreads to the lungs, where it's likely to cause the most damage.A <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8117664/">May study</a> found that a nasal spray from the biotech company SaNOtize reduced the amount of virus present among 40 people with mild COVID-19. The spray uses a colorless gas called nitric oxide that's found naturally in the body. Israel is now offering that drug in pharmacies.Another company, IGM Biosciences, is developing a nasal spray that contains an antibody engineered to neutralize the coronavirus. The spray <a href="https://igmbio.com/2021/06/03/igm-biosciences-announces-expansion-of-igm-platform-into-infectious-diseases-publication-of-preclinical-data-in-nature-demonstrating-engineered-igm-antibody-antiviral-activity-for-the-treatment-and-p/">reduced the amount of virus in the lungs of mice</a>, but scientists don't yet know whether it will be effective in humans. Zhiqiang An, a professor of molecular medicine who's involved in the research, <a href="https://www.nature.com/articles/d41586-021-01481-2">told Nature</a> that the spray could eventually serve as an emergency treatment after someone has been exposed to the coronavirus.<h2>Inhalers could shorten recovery among hospitalized patients</h2><div type="image" title="covid inhaler" height="3306" width="4959" msid="86820477" hostid="261"></div>A couple of inhaled COVID-19 medicines are also showing promise, though more research is needed.<a href="https://www.thelancet.com/journals/lanres/article/PIIS2213-2600(20)30511-7/fulltext">In a study of about 100 hospitalized COVID-19 patients</a>, an <keyword id="12258956" type="UNKNOWN" weightage="60" keywordseo="inhaler" source="Orion">inhaler</keyword> from Synairgen was found boost the odds of improvement and lead to quicker recovery times relative to patients who received a placebo.The inhaler uses a naturally occurring protein to stimulate the immune response in the lungs. Synairgen <a href="https://www.synairgen.com/umbraco/Surface/Download/GetFile?cid=1c48c82b-86ce-4aa3-9613-3fcf2f7b2e7a">expects results</a> from a late-stage study in hospitalized patients in early 2022.A large study also found benefits from inhaled budesonide, a generic anti-inflammatory drug that treats asthma and chronic obstructive pulmonary disease. <a href="https://www.thelancet.com/pdfs/journals/lancet/PIIS0140-6736(21)01744-X.pdf">A UK study in high-risk COVID-19 patients</a> found that budesonide helped people recover about three days faster than those who received standard care. But the same study found that budesonide didn't significantly reduce hospitalizations or deaths.This story has been updated with new information. It was originally published October 6.

The first-ever COVID-19 pill may be just weeks away. A handful of other pills, inhalers, and nasal sprays also show promise.

You Searched For "greenlight biosciences" and got 3 results

Vaccine developer GreenLight is going public in a $1.5 billion SPAC deal

Ethan Wu

Jeremy Grantham keeps warning investors about a bubble in green stocks — but he's staying invested as his holdings soar

Matthew Fox

The first-ever COVID-19 pill may be just weeks away. A handful of other pills, inhalers, and nasal sprays also show promise.

Aria Bendix,Andrew Dunn

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