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Daily Archives: January 7, 2022
Corporate Bankruptcy Wave Turns to Dust, Defying Expectations – Bloomberg Law
Posted: January 7, 2022 at 4:44 am
An anticipated surge of pandemic-induced Chapter 11 cases failed to materialize in 2021, thwarting corporate restructuring professionals predictions.
Government stimulus programs, combined with low borrowing rates and greater debt forbearance, disrupted early forecasts that a wave of corporate bankruptcies would wash over at some point during the year.
Instead, 2021 saw the fewest annual bankruptcy filings in nearly four decades, falling 24% from 2020, which had recorded the fewest bankruptcies since 1986. A total of 3,596 Chapter 11 cases were filed in 2021, about 3,000 fewer than the year before.
Some sectors, such as retail and health care remain vulnerable as the pandemic continues to take its toll, supply chain issues persist, and inflation rises, bankruptcy and turnaround practitioners say.
But expectations of when the bottom will drop out are tempered following a year of relatively low bankruptcies that threw the restructuring world for a loop.
I was as surprised as everyone else that the numbers went down as much as they did, said Michael Sweet, chair of Fox Rothschild LLPs financial restructuring and bankruptcy practice. We may look back and consider that the shortest recession in history, he said.
The steep bankruptcy hike in 2020 also helps to explain the tame 2021 numbers in comparison. The economic shock caused by the pandemic tipped nearly 250 large companies into Chapter 11 bankruptcy in 2020, the most since the 2008-2009 financial crisis.
But Covid-19 largely accelerated restructuring proceedings that already were in motion. Many of the major retailers, commercial landlords, and energy companies that filed for bankruptcy in 2020 already were reeling from industrywide distress.
Its interesting to me that we dont seem to really have seen a rush of pandemic-caused or purely pandemic-caused filings yet, said McKool Smith bankruptcy attorney John Sparacino.
Earlier in 2021, restructuring professionals understood that stimulus funds and debt forbearance would help avoid a wave of bankruptcies in the near term. But many didnt expect the relative calm would last this long, or that filings would fall to historic lows.
Beginning in March 2020, the federal government appropriated about $4.5 trillion for stimulus payments and other relief programs in response to the pandemic.
Those programs included a $16.2 billion relief fund for shuttered entertainment venues, $28.6 billion to aid struggling restaurants, and a low-interest Economic Injury Disaster Loan.
The Paycheck Protection Program, one of the most popular pandemic relief efforts, provided $800 billion worth of forgivable loans to mostly small companies. A 2021 survey by the Federal Reserve found that 82% of small employers applied for the PPP.
As of the end of September 2021, $3.5 trillion of Covid-related appropriations were spent, and another $500 billion had been committed for future expenses, according to federal reports.
Meanwhile, interest rates remained at historic lows.
The easy access to liquidity, combined with negotiated debt forbearance, also boosted the economy and kept vulnerable companies from going under in a variety of industries.
Consumer-facing companies like airlines and cruise operators, which experienced stark revenue plummets in 2020, were able to raise a mind-bending amount of capital the following year, said Paul, Weiss, Rifkind, Wharton & Garrison LLP restructuring lawyer Kelley Cornish.
Debt from the airline industry alone grew more than 20% to $340 billion between 2020 and 2021. Yet airlines also were handed $54 billion in government aid to cover payrolls.
Even the auto industry, which was hammered by pandemic-caused supply chain disruptions, isnt likely to see any immediate bankruptcies, said Ann Marie Uetz, vice chair of Foley & Lardner LLPs national litigation department.
There are a lot of out-of-court restructurings taking place, as some larger auto parts makers take over smaller suppliers, Uetz said. But those smaller suppliers increasingly are seeking help from their manufacturer customers rather than the bankruptcy courts, she said.
Economic factors arent consistently indicating to a sanguine outlook for struggling companies. Inflation remains a concern, as are lingering supply chain disruptions and new waves of Covid-19 cases.
Should interest rates and inflation continue to rise, 2022 could spell disaster for some companies that have been limping along.
It seems like everyone is on edge waiting for the dam to burst, Sparacino said. Ive got to believe that the day of reckoning has just been deferred for a lot of people.
Oil prices also are rising, and business stimulus subsidies are drying up, said Mark Duedall, a corporate restructuring attorney at Bryan Cave Leighton Paisner LLP. So I do think well have distress next year.
But Ive given up trying to predict, he said.
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Corporate Bankruptcy Wave Turns to Dust, Defying Expectations - Bloomberg Law
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Bowlski’s will keep on rolling in El Jebel through bankruptcy – The Aspen Times
Posted: at 4:44 am
Bowlskis in El Jebel declared bankruptcy Sunday but will keep its lanes open and the beer flowing as it works to reorganize its debts under Chapter 11, according to co-owner and operator Craig Spivey.
It really comes down to the back rent we owe from during COVID Spivey said Tuesday. Were current with everybody else, but were behind on our rent for when we closed during COVID.
Spivey was upbeat Tuesday about the future of the bowling alley, which opened in 1992 under the ownership of the Stecklein family. Spivey and other investors acquired the El Jebowl business but not the building in 2016. While they changed the alleys name to Bowlskis, El Jebowl LLC is the corporate name for the business.
The pandemics toll on Bowlskis was similar to what other businesses have experienced, Spivey said. Hiring has been difficult, and business activity dropped, but Spivey said December was strong, and he sees a brighter future.
We love it there, and we appreciate everybodys support 100%, he said. Were on a long list of people that have been fighting to stay open and have appreciated everybodys help and understanding.
The midvalley bowling alley was closed for nearly three months from March 15, 2020 which was two days after former President Donald Trump declared the coronavirus a national emergency until June 1.
That really hurt us, Spivey said. Our sales were hit hard.
The staff of 14 to 16 employees pre-pandemic now comprises six workers, he said.
The bankruptcy case is in its early stages, and a telephonic meeting of creditors is scheduled Feb. 7, according to court documents.
The companys bankruptcy petition lists Bowlskis assets between $50,001 and $100,000 and its liabilities (the amount it owes to creditors) between $100,001 and $500,000. A summary of those liabilities, which identifies the creditors and the amount owed to them, had not been filed as of 5 p.m. Tuesday.
Crawford Properties LLC owns the building that houses the bowling alley and its accompanying restaurant and bar. Bowlskis also owns and operates the restaurant and bar business.
A telephone message left Tuesday with Robert Hubbell, president of Crawford Properties, was not immediately returned, and Spivey declined to say how much money the landlord is due.
Its a lot, he said, adding he is waiting on funds from an Economic Injury Disaster Loan, which is a program of the Small Business Administration.
As well, Bowlskis in 2020 received funds through the Paycheck Protection Program, with a first round amount of $24,443 and a second round amount of $34,220, according to an SBA database of PPP loans. That money helped keep the business afloat, Spivey said, noting that it was forced to close early, at 10 p.m., when the public health orders were in full throttle in 2020.
Now, it is open from 4 p.m. to midnight, and those extra two hours of operations make a big difference, he said. The late-night vibe has changed now with the addition of DJs and other offerings, he said.
Its added a whole new dynamic and a different demographic, he said.
Spivey also is the president of Dallas-based BowlBrands, which opens and operates bowling businesses and alleys.
Weve have invested a lot of money to stay here in the valley, said Spivey, who also lives in the Basalt-El Jebel area.
The U.S. Bankruptcy Court for the District of Colorado in Denver is the venue for the case. The Law Offices of Kevin S. Neiman PC in Denver is representing Bowlskis in the proceedings.
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Bowlski's will keep on rolling in El Jebel through bankruptcy - The Aspen Times
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The Inside Story Of How Jessica Simpson Launched, Sold Then Re-Acquired Her Billion Dollar Retail Empire From Bankruptcy – Celebrity Net Worth
Posted: at 4:44 am
Countless celebrities have tried and failed miserably to strike gold in the retail licensing business. Jessica Simpson puts them all to shame.
Not only did Jessica create a brand that eventually generated over $1 billion in annual gross revenue, she also sold a majority share for a big windfall then re-acquired the brand out of bankruptcy in a corporate maneuver that would impress Gordon Gecko.
We have previously reported on Jessica Simpson's retail empire and the fact that she reacquired 100% ownership rights in November. But thanks to an in-depth interview that was just published by Bloomberg, we now know a lot more about the brand's nitty gritty financial details, from inception to sale to re-acquisition.
(Photo by Evan Agostini/Getty Images)
Back in the spring of 2005 Jessica Simpson was at the peak of career. Actually, she was at the peak of her FIRST career. She may not have even realized it at the time, but she was actually at step one of what would eventually be a much more impressive and lucrative SECOND career as retail mogul.
On March 30, 2005, Jessica's three-season smash-hit reality show, "Newlyweds: Nick and Jessica," aired its final episode. At the same time she was putting the final touches on what would soon be a critically-acclaimed turn in the film reboot of "The Dukes of Hazzard."
In the movie, Jessica took on the iconic role of Daisy Duke which had been made famous by Catherine Bach on the 1970s/1980s TV show. Thanks largely to a poster of Catherine (as Daisy) wearing super short jean shorts, that sold over 5 million prints, short denim shorts became forever re-named as "Daisy Dukes."
As the film's summer release date approached, Jessica and her mother/manager, Tina Simpson, began to take meetings with various merchandising companies to entertain partnership offers to launch a Jessica Simpson retail business.
The resulting business was called
The merchandising company Jessica and Tina settled on was called the Camuto Group.
The Camuto Group was founded in 2001 by Vince Camuto. Just two years prior, Vince sold the retail empire he co-founded two decades prior, Nine West, for $900 million. The Camuto Group positioned itself as experts in sourcing, manufacturing and shipping shoes for other brands. For example, when Tory Burch, Lucky Brands and BCBG wanted to launch a line of shoes without having to do any of the actual making of shoes, they tapped the Camuto Group. When Tory Burch had a huge hit with a $200 flat (which was a quarter of the price of similar rival flats), they were manufactured by the Camuto Group.
Jessica and Tina were impressed with the Camuto Group and hit it off with Vince. So a deal was struck where the Camuto Group would pay Jessica a fee to be the master licensee of her name on retail items. Vince also struck a side deal to acquire 25% of Jessica's brand outright.
You might assume, considering the movie's release, that the first product they made together was a line of Daisy Dukes, but Jessica actually wanted the first product to be a line of high-heeled cowboy boots. That's partially why she wanted to work with Camuto specifically.
The high-heeled boot was a huge success and new products were rolled out. Not just shoes either. The Jessica Simpson Collection eventually produced jeans, accessories, lingerie, perfume and more. Simpson and Camuto worked closely to oversee licensing deals on products in more than 30 retail categories.
(McCarthy/Getty Images for Jessica Simpson Collection)
According to the recent Bloomberg article, in 2010 the Jessica Simpson Collection generated $750 million in gross retail sales.
In 2014, the brand's peak year (so far), the Jessica Simpson Collection grossed over
Before you get too excited, Jessica's cut of those gross revenues was actually not all that impressive. The retail business is tough, with notoriously low margins. According to Bloomberg, in the year the brand grossed $1 billion, Jessica's cut was just $13 million. An impressive number for sure, but technically that's 1.13% gross revenue.
Unfortunately, Vince Camuto died in January 2015 after a battle with cancer. That left Tina and Jessica feeling aimless and needing a new partner. So, in April of that year, Jessica sold 62% of the brand to a company called Sequential Brands for $117 million. Vince Camuto's widow remained 25% owner and Jessica after the deal continued to own 12.5%.
With the sale, Jessica shrewdly included what would later prove to be an extremely brilliant deal point in her contract with Sequential. The contract required Sequential to give Jessica final approval rights if it were ever to sell the brand.
On the heels of their Jessica Simpson acquisition, Sequential went on a multi-billion dollar debt-funded brand buying spree. That strategy was all well and good until it wasn't.
Here's what happened to Sequential's stock price as Wall Street soured on its acquisition strategy and then as revenues were decimated by COVID-19:
Sequential filed for bankruptcy in February of 2021. At this point the company, with a bankruptcy judge overseeing, began to seek offers for its various assets and brands.
Just as the vultures began circling, Jessica and her mom met with an investment bank to put together an offer of their own. An offer that would result in Jessica regaining 100% ownership of her brand, name and license.
Their offer consisted of $65 million in cash, mostly funded by Jessica PERSONALLY.
But here's the best part Jessica had a trump card in the negotiations.
Thanks to that deal point in her original contract, Jessica had the right to approve or deny any sale. That essentially made Jessica's offer the only viable offer that Sequential could even consider.
In August of 2021, Jessica's offer was submitted. Two months later it was officially accepted and consummated.
According to numbers reported by Bloomberg, even as Sequential imploded in 2020 and 2021, the Jessica Simpson Collection still managed to generated $500 million in gross retail sales last year. So it's by no means a dead brand.
I think the really interesting aspect of this story will happen over the coming years. Jessica previously earned just $13 million when her brand generated $1 billion in revenue. As 100% owner she'll get 100% of the profits.
Let's say she builds the brand back up to $1 billion in sales and maintains an industry-standard 20% profit margin. That would be $200 million in profits for Jessica every year. Considering how far she's come so far, I wouldn't bet against it!
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The Law Amending The Enforcement And Bankruptcy Law And Certain Laws Is Published – Insolvency/Bankruptcy/Re-structuring – Turkey – Mondaq News Alerts
Posted: at 4:44 am
05 January 2022
Moroglu Arseven
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Law numbered 7343 on the Amendments to the Enforcement andBankruptcy Law and Certain Laws ("AmendmentLaw") was published in Official Gazette dated 30November 2021 and numbered 31675 and entered into effect on thesame day. With the Amendment Law, fundamental changes on theorganizational structure of execution offices as well as proceduresof postponement of execution, and sale, valuation and tender ofseized properties were introduced within the scope of Enforcementand Bankruptcy Law numbered 2004("EBL").
Some remarkable amendments in the Amendment Law are summarizedbelow:
Please find the full text of the Amendment Law here. (Only available in Turkish)
Information first published in the MA | Gazette, a fortnightly legal updatenewsletter produced by Moroglu Arseven.
The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.
POPULAR ARTICLES ON: Insolvency/Bankruptcy/Re-structuring from Turkey
Aksu alkan Beygo Attorney Partnership (ASC Law)
In the following article ASC Law addresses the use of standardized "Framework Agreements" prepared by the highly-regarded Banking Association of Turkey in debt restructuring negotiations.
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For species on the very brink of extinction, cloning is a loaded last resort – Mongabay.com
Posted: at 4:44 am
For many people, extinction is a term that refers to the past. Its meant for dinosaurs, woolly mammoths and so many other species only found in textbooks or on display at museums.
Extinction is an abstract concept to many people. It was to me as a kid, says Oliver Ryder, director of conservation genetics at the San Diego Zoo Wildlife Alliance.
But the planet us growing less biodiverse each year. And extinction is a very real and present crisis. In September 2021, the U.S. Fish and Wildlife Service declared 23 species to be newly extinct. And many species arent technically considered extinct because they live in captivity, even though they no longer exist in the wild. Where conventional conservation methods have stalled, there may be another option, one thats highly contentious, to pull a species back from the brink: cloning.
Right now, conventional conservation measures are struggling to keep up with the pace of the threats that face the world. Weve crippled populations to such fragmented and small sizes, says Ben Novak, lead scientist at Revive and Restore, a nonprofit organization that works to boost biodiversity through whats known as genetic rescue of endangered and extinct animals.
Biotechnologies, like cloning and gene editing, now give us a chance to accelerate the evolution of species so they can actually cope with change and survive it.
Cloning is one type of genetic rescue, an approach used to restore genetic diversity in a population and lower the risk of extinction. Today, we can clone some mammals, fish and amphibians, and potentially even marsupials, Novak says.
Often, when a species population crashes to very low levels, it undergoes a genetic bottleneck, where only a few individuals remain to pass on genes to future generations. That reduces the overall genetic diversity of the population, increasing the likelihood of inbreeding, which in turn raises the chances of offspring carrying recessive traits, further undermining the species survivability.
Where the conventional conservation methods of captive and assisted breeding are limited to working with the genetic material currently circulating within a species, cloning can reinject lost genetic diversity into the population, says Beth Shapiro, an evolutionary molecular biologist at the University of California, Santa Cruz, who also serves on the board of directors at Revive and Restore.
Increasing genetic diversity is likely to benefit by providing genetic fodder for natural selection, she says.
Right now, cloning is the only way to produce an actual copy of an animal from a non-reproductive cell, Novak says.
In December 2020, a team of researchers led by Revive and Restore cloned the first black-footed ferret (Mustela nigripes), which they named Elizabeth Ann. Today, all black-footed ferrets descend from only seven individuals, so every ferret is related in some way. Elizabeth Ann is a clone from a different population and has three times more genetic diversity than any other ferret alive. So if she breeds successfully, she will contribute new genetic diversity to the population.
Earlier in 2020, scientists from Revive and Restore also successfully cloned a Przewalskis horse (Equus ferus przewalskii), which they named Kurt.
Cloning cant happen unless tissues samples, like skin, are biobanked, which means theyre frozen for preservation and stored in a biorepository. As a species declines, it loses genetic diversity within the populations. Thats why its important for researchers to collect tissue samples whenever possible to leave options open for the future, Novak says.
For any species on the brink of extinction, what we can be doing right now is saving as many tissue samples as possible so that in the future if they go extinct or they get really rare we can reach into the past and get something back that weve lost, he says.
However, an animal can only be cloned if the technology already exists to breed it in captivity, because researchers need to know how to handle it and how it reproduces, Novak says. So cloning should never be aimed at replacing captive-breeding programs or nudging out other reproductive technologies, he says. But there will be different scenarios that favor different approaches.
With cloning, scientists take cells from tissues, like the skin, and a reproductive egg from a common ancestor. They remove the nucleus, the part that holds the genetic material, and then fuse the ancestor cell with the skin cell, so that the fused cell then only contains the genes from the animal theyre cloning. The fused cell is now an embryo that a surrogate will carry.
Proponents of cloning say such a method could work to revive the northern white rhino (Ceratotherium simum cottoni), a subspecies down to its last two individuals. Theres currently another project underway to save the northern white rhino, not with cloning but with stem cell technology. In this case, scientists revert cells from tissues samples to stem cells. Once they are stem cells, they have the potential to become any kind of cell, like reproductive egg and sperm cells.
The difference between cloning and stem cell technologies is that, with the latter, scientists arent making an identical copy of the donor. Instead, they are creating the circumstances so that cells can produce offspring through sexual reproduction, says the Wildlife Alliances Ryder.
There are only two northern white rhinos left in the world: Najin and her daughter, Fatu. In October 2021, Najin was retired as a potential egg donor due to age and illness, so now Fatu is the only donor left.
Experts like Ryder and Shapiro say theyre confident that one day they will successfully create a northern white rhino, but it will take a long time and there are a lot of challenges and unknowns along the way.
In mid-2021, the German government-funded initiative BioRescue announced that it had successfully created 12 northern white rhino embryos.
But still, the embryos need to be successfully transferred to a surrogate that is a common ancestor with the same gestational period. And in this case, that would be the southern white rhino (Ceratotherium simum simum).
However, there has never been a successful embryo transfer in a rhino to date, Ryder says.
Southern white rhinos also faced a population decline and subsequent genetic bottleneck due to poaching. The population crashed to as low as 30 individuals, limiting genetic diversity, before bouncing back to a population today of more than 10,000 individuals, but with much less diversity than before.
In fact, researchers at the Wildlife Alliance sequenced the 12 cell cultures that they have in their Frozen Zoo and found more genetic diversity in those 12 cultures than in the entire population of southern white rhinos, Ryder says.
So genetically, they have the potential to recover, he says. The technology just isnt there yet to make the jump from frozen embryo to live rhino calf.
Although some may argue that intervening in the evolution of plants and animals is unnatural, Shapiro points out that humans have been intervening for tens of thousands of years already. She says we shouldnt reject new technologies until the risks and potential are fully evaluated.
I think in biotechnology, sometimes we get lost in the can we do this? And the goal of an ethics analysis is to answer the question, should we do this biotechnology? says Samantha Wisely, a conservation geneticist at the University of Florida.
Wisely was a part of a team that recently published an ethics analysis of cloning as a form of genetic rescue and looked at black-footed ferrets as a case study.
The ethical analysis took into consideration whether the goals of the program are justified, whether cloning can be done responsibly, and whether theres support from the public and within the conservation community.
For the ferrets, cloning was really the only way, Wisely says. The remaining individuals were highly inbred and there were no new individuals to bring in and add to that genetic diversity.
Revive and Restores Novak points out that captive-breeding programs are already heavily managed. Animals dont get to choose who they mate with; theyre paired together based on whos related to who. With cloning, scientists are just expanding their options, he says.
The use of somatic cells, like skin cells, is also much less invasive than collecting reproductive cells, the analysis points out. Using somatic cells to create genetically identical animals has been used in the livestock industry in the U.S. for more than a decade.
And ultimately, whether or not cloning should be done as a means of genetic rescue should be considered on a case-by-case basis, Wisely says.
The way to save species is to save them in their habitats, Ryder says. But the fact that we have species going extinct means that its not being realized to the fullest extent.
An additional set of options offers the future the possibility that wouldnt otherwise have existed, he adds.
Over the next few years, Revive and Restore hopes to make more clones of Elizabeth Ann and Kurt as well as some new, unique Przewalskis horses, Novak says.
He says this also gives them an opening to use gene editing or genetic engineering. For instance, they can sequence the genomes of ferrets that died in the early 1900s and find genes that are potentially beneficial, like ones for disease resistance. Scientists can write those genes back into living ferrets, providing a genetic boost to the current population.
The technology is unfolding in real time. And its important to engage global stakeholders who will be affected by the adoption of these approaches, while the technology is still developing, Shapiro says.
The pace of change is too fast today for evolution by natural selection to keep up, she says.
If we want to live in a future that is both biodiverse and filled with people, then we have no choice but to continue to intervene as we always have in more deliberate, thoughtful, and careful ways.
Banner image of a cloned Przewalskis horse (Equus ferus przewalskii) named Kurt. Kurt was born on April 6, 2020. Courtesy of Revive & Restore.
Citation:
Sandler,R.L., Moses,L., & Wisely,S.M. (2021). An ethical analysis of cloning for genetic rescue: Case study of the Black-footed ferret.Biological Conservation,257, 109118. doi:10.1016/j.biocon.2021.109118
Editors note: This story was supported by XPRIZE Rainforest as part of their five-year competition to enhance understanding of the rainforest ecosystem. In respect to Mongabays policy on editorial independence, XPRIZE Rainforest does not have any right to assign, review, or edit any content published with their support.
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For species on the very brink of extinction, cloning is a loaded last resort - Mongabay.com
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Global Synthetic Biology (Enzymes, Cloning Technologies Kits) Market Report 2021-2027 – Opportunities in the Development of Vaccines and Personalized…
Posted: at 4:44 am
DUBLIN, January 06, 2022--(BUSINESS WIRE)--The "Synthetic Biology Market Size, Share & Trends Analysis Report by Product (Enzymes, Cloning Technologies Kits), by Technology (PCR, NGS), by Application (Non-Healthcare, Healthcare), by End Use, and Segment Forecasts, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The global synthetic biology market size is estimated to reach USD 31.97 billion by 2027, registering a CAGR of 20.8%
Extensive applications of synthetic biology in multiple fields is a major impact rendering driver of the market. For instance, the technique is used for the development of biofuel from microorganisms in the bioenergy field.
Several market participants have produced materials and textiles with the use of synthetic biology. Bolt Threads, a material developing company that produced engineered spider silk ties, and Colorifix are developing dyes with biological systems.
In addition, the market has provided the agriculture industry with alternative fertilizer options, which are not harmful. For instance, Pivot Bio, a California-based company, has established a technique of fertilizing crops without relying on a harmful polluting chemical process.
Extending clinical applications of synthetic biology, the potential of the technique to accelerate drug development, and enhancing market competition are some key aspects driving the industry. The COVID-19 pandemic is set to drive applications and investments in this space.
For instance, in January 2021, FDA approved Phase III trials of carrimycin - a synthetic biological drug treatment for COVID-19. This drug includes anti-inflammatory, antiviral, anti-fibrosis, as well as antibacterial effects.
Synthetic Biology Market Report Highlights
Oligonucleotide/oligo pools and synthetic DNA held the dominant share in the product segment owing to the increased application scope of the product in the research field
The enzymes product segment is expected to witness the second-fastest CAGR over the forecast years owing to the growing application of enzymes in biofuel, textile industry, and molecular biology applications
Healthcare application is the largest revenue-generating as well as the fastest-growing application segment due to a rise in the application of synthetic biology in research, diagnostics, and other clinical fields
The biotechnology & pharmaceutical companies end-use segment led the market in 2020 due to heavy investments to enhance R&D activities for the production of vaccines and other drugs
PCR was the largest revenue-generating technology segment in 2020. With the accelerated development of modern life science, PCR technology has been widely applied to different biological, medical research, virus detection, and the food industry
The availability of advanced research facilities, increased investments in private companies, favorable regulations, and government assistance & funding have contributed to the dominance of the North America regional market in 2020
For Instance, in September 2020, a U.S.-based startup, Zymergen Inc., received USD 300 million in funding from Baillie Gifford & Co. to increase the R&D activities in synthetic biology
The key operating players are focusing on exploring synthetic biology to its highest potential across different emerging applications
For instance, in April 2020, Barcelona-based Luis Serrano and Maria Lluch received USD 2.35 million of seed financing from Barcelona-based Invivo Ventures to develop novel treatments for lung infections
Story continues
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Synthetic Biology Market Lineage Outlook
3.2.1 Parent Market Outlook
3.3 Penetration And Growth Prospect Mapping
3.4 Market Driver Analysis
3.4.1 Extensive Applications Of Synthetic Biology
3.4.2 Funding And Assistance From Government And Private Organization
3.4.3 Growing Research And Development Activities In Synthetic Biology
3.5 Market Restraint Analysis
3.5.1 Biosafety, Biosecurity Issue
3.5.2 Ethical Issues And Unintended Consequences
3.6 Market Opportunity Analysis
3.6.1 Development Of Vaccines And Personalized Medicines
3.6.2 Demand For Biofuel
3.7 Market Challenge Analysis
3.7.1 Lack Of Standard Regulation For Synthetic Biology Products
3.8 Business Environment Analysis
3.8.1 SWOT Analysis; By Factor (Political & Legal, Economic And Technological)
3.8.2 Porter's Five Forces Analysis
3.9 Competitive Analysis
Chapter 4 Products Business Analysis
4.1 Synthetic Biology Market: Products Movement Analysis
4.2 Oligonucleotide/Oligo Pools And Synthetic Dna
4.3 Enzymes
4.4 Cloning Technologies Kits
4.5 Xeno - Nucleic Acids
4.6 Chassis Organism
Chapter 5 Technology Business Analysis
5.1 Synthetic Biology Market: Technology Movement Analysis
5.2 Pcr
5.3 Genome Editing
5.4 Ngs
5.5 Bioprocessing Technology
Chapter 6 Application Business Analysis
6.1 Synthetic Biology Market: Application Movement Analysis
6.2 Healthcare
6.2.1 Global Synthetic Biology Market For Healthcare Synthetic Biology Market Estimates And Forecast, 2018 - 2027 (USD Million)
6.2.2 Clinical
6.2.2.1 Global Synthetic Biology Market For Clinical Synthetic Biology Market Estimates And Forecast, 2018 - 2027 (USD Million)
6.2.2.1.1 Bio/Pharmaceuticals
6.2.2.1.2 Diagnostics
6.2.3 Non - Clinical
6.3 Non - Healthcare
Chapter 7 End Use Business Analysis
7.1 Synthetic Biology Market: End Use Movement Analysis
7.2 Biotechnology & Pharmaceutical Companies
7.3 Academic & Government Research Institutes
Chapter 8 Regional Business Analysis
8.1 Synthetic Biology Market: Regional Movement Analysis
Chapter 9 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/gzc6ya
View source version on businesswire.com: https://www.businesswire.com/news/home/20220106005512/en/
Contacts
ResearchAndMarkets.comLaura Wood, Senior Press Managerpress@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470For U.S./CAN Toll Free Call 1-800-526-8630For GMT Office Hours Call +353-1-416-8900
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Mercedes cloning will ‘definitely’ help Aston Martin in 2022 – PlanetF1
Posted: at 4:44 am
Aston Martins decision to effectively clone the Mercedes car in 2020 will definitely help the team in 2022, says Andrew Green.
Back when they were known as Racing Point, the British team opted to base the design of their 2020 challenger on the title-winner Mercedes car from the previous season.
It proved to be a somewhat successful strategy for them with their car more often than not being the third fastest on the grid and their drivers claiming one win and three podiums between them.
Green, the teams technical officer, thinks its also one that opened their eyes and thus will have definitely helped them build and develop their car for the 2022 campaign.
It definitely opened our eyes to new ways of working new concepts, new ideas, he told The Race.
And it has enabled that thinking then to follow through to some degree on the 21 car but the 2022 car definitely.
Greens team were heavily criticised for what became widely known as their pink Mercedes with a number of teams viewing the copying as a form of cheating and protesting the design.
He remains adamant they did nothing wrong though and that trying to replicate another design was far from the easy option for them, requiring a huge amount of work and skill.
Anger from rivals stemmed from the successful way in which they carried out such work, he says.
What we did was look at the car and went about working out why that car was significantly quicker than everybody else, he added.
We did our own learning. Theres no shortcut to doing it. Its not a copy, its developing a solution where youve got a rough idea of what you think the answer is, but youve still got to get there and it takes a lot of development and a lot of work to understand.
In some ways, its even harder because sometimes the directions pull you away from what you believe to be the right answer. I think the team did a great job in understanding the philosophy behind it.
If you look up and down the grid, a lot of other teams have taken the same philosophy. They did what we did last year and theyve taken the philosophy of the fastest car and developed it as their own.
Its not a new concept, its just that everybody latched on to it because I think we did quite a good job and other teams were a little bit upset that wed done quite a good job.
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Drivers warned of surge in illegal number plate cloning as older cars look to avoid fines – Express
Posted: at 4:44 am
Many drivers have been stung by fines wrongly attributed to their cars since the introduction of clean air zones and the expansion of Londons Ultra Low Emission Zone (ULEZ). With the number of fines increasing for drivers who have not entered the car tax zones, it has been suggested that more rogue motorists are using fake plates to cheat city centre enforcement cameras.
Bath, Birmingham and Portsmouth all launched their clean air zones last year, with some more polluting vehicles being charged a daily fee for driving in the zone.
A number of other cities are also set to launch a clean air zone this year, including Greater Manchester, Oxford, Newcastle and Edinburgh.
Some clean air zones charge older cars between 7 and 10 per day to drive inside the emissions area, whilst larger vehicles like HGVs and buses can be charged between 50 and 100.
There are fears that as more clean air zones are introduced, more fake number plates could be seen.
READ MORE:Car tax band: How to work out your car's tax band ahead of changes
In 2019, the number of drivers complaining to the DVLA about correspondence, fines or penalties wrongly linked to their vehicles has more than doubled.
The DVLA had 9,384 complaints about correspondence, fines or penalties wrongly linked to vehicles in 2019, up from 4,021 in 2018.
In 2020 the figure fell to 7,400, thought to be due to traffic levels in the pandemic.
Between January 1 and July 31 last year, the latest period figures are available for, it was 4,110.
DON'T MISSBanning car ownership would do more harm than good[INSIGHT]Drivers urged to check new European driving law changes for 2022[URGENT]Hydrogen vehicles 'need to be used' for UK's push for net zero[ANALYSIS]
Jack Cousens, head of policy at the AA, said: With cities across the country introducing clean air zones, plate cloning could increase as fraudsters hope to cheat the charges.
A policy from the Driver and Vehicle Licensing Agency (DVLA) stipulates that if a driver is stopped more than once with a plate which doesnt meet regulations, the registration should be rescinded.
In this case, the driver would be issued with a new, random number plate.
This is done so all number plates meet the UKs regulations and can be more easily identified by automatic number plate recognition (ANPR) cameras.
A quick Google search can lead drivers to find fake number plates, which could potentially be used to navigate around the charges.
There have been a number of instances where drivers have been wrongly fined for supposedly driving inside a clean air zone.
Richard Gregory-Gibbons, from Staffordshire, says a driver with the exact same car and same licence plate is frequently travelling through Birminghams CAZ zone and claims his registration plate was cloned.
This case of mistaken identity has left him inundated with penalty charge notices (PCN).
In August, he had received almost 30 letters and needed to appeal each fine individually via the councils website.
He received six letters in just one day three of which were for bus lane fines and one warning letter from the clean air zone.
Another driver, Ruth Costello from West Sussex, said she had been receiving the 120 penalty charge notices (PCNs) since the launch of Birminghams CAZ in June.
The motorist, who lives 160 miles away from Birmingham, received 19 fines totalling 2,280, despite having never driven in the city.
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What’s the fake news on your dairy? – Hoard’s Dairyman
Posted: at 4:44 am
Hearing the term fake news may cause a visceral response in todays political climate. With the abundance of media outlets available on so many different platforms, its become difficult to know what to believe.
What about fake news on your dairy?
My guess is your first response might be related to detractors that wish to push a false narrative about the way we manage cows and produce milk. That is not the fake news I want to dig into today. It is more the question of what you believe about your own dairy that may in fact not be true.
Asking the same question
In the routine analysis of our clients farms, I ask myself the same question over and over, What do I believe to be true about some aspect of the dairy that is actually not true? It is an investigation technique that is helpful in digging deeper into how cows are performing on a dairy. We work in a variable biological system with an unknown number of influences that truly impact the cow and the bottom line. A systematic process to discover these untruths may be the key to the next 5 pounds of milk.
The number of information sources that could be lying to us would rival the number of various media outlets on TV or social media. A modern dairy is full of information-gathering efforts from humans to instruments that measure everything from the weather to the butterfat levels in the milk. These will eventually tell us an untruth. We must approach this information with great care.
Potentially questionable information sources
Consider an example of a corn silage crop year change where the cows just arent getting the job done. Even if you sampled the new silage, maybe that sample taken soon after opening the pit isnt representative of the entire pile. So, the first potential source of bad info is forage analysis information including a full lab report or even an on-farm moisture test. Verify and reverify, especially on a new crop silage.
Lets take that a step further. Suppose the feeders are doing a great job checking silage moisture and delivering it on time each morning to the office. But, in the hustle and bustle of a busy dairy office, the changes werent being updated in the feeding software. Dont say never on my place . . . it happens.
Two answers to the same question
Cow movements on a dairy are an integral part of the yearly life cycle of a cow. The days in milk (DIM) when these moves occur are planned for various reasons. I can remember a conversation with a client regarding the DIM when cows leave the fresh pen. This matters when I build the best ration for this pen.
The fresh cows graduate from the fresh pen at 12 to 15 DIM, said the producer. This tells me to really focus on diet goals related to the just-fresh cow.
After some discussion with the herdsman regarding intake and fresh cow transition issues and peak milk, I notice that the average DIM in that pen is actually 20 days. It turns out the transition cow team has been keeping fresh cows in that pen for as much as 10 days longer to keep an extra eye on them during a time of lower calvings. If this will be the plan going forward, there are a few things I will do differently in formulating that diet to help cows a bit higher in DIM and for higher intake levels.
Procedural drift is at the base of several of these potential situations. Things like pen moves, vaccinations, voluntary waiting period (VWP), and days at first breeding can all be set in protocols and believed to be happening as planned. By spending a little time in the herd management software, you might find that the actual implementation leaves something to be desired.
Verify, reverify, and verify a third time.
Train, retrain, and train again.
Feeding accuracy is always a topic where the truth may be hard to find. If a TMR sample does not meet the formulated nutrient specifications, we may then know that we arent feeding what we think we are.
Was it just a bad day the samples were taken or is the loading and mixing protocol at the dairy in need of some work?
We believe that the feeders put the correct amount of the correct ingredient in the mixer. Is this true?
Taking more frequent TMR samples might help for gaining confidence in the ration. Using an aggressive feed and ingredient inventory management and tracking process also will help ensure accurate ingredient loading and mixing. Dont forget to verify mixer scales on a regular basis.
At times when the stars are aligned, 2 plus 2 can seem to equal 5 and the cows are exceeding expectations. In all the fun end enjoyment in that situation, dont forget to look for the magic to keep it going. At other times, 2 plus 2 seems to barely equal 3. In these situations, ask yourself what you think may be happening at the dairy and verify to be sure it is so.
And one more thing, always believe the cows. Data and even humans can convey information that is not true. The computer may spit out false numbers and your intuition and memory can fail you. Building systems and a solid team of people with common goals will solve most of the problems. Calibrating equipment, completing preventive maintenance, and keeping everything clean and tidy just seems to help ensure success. It is attention to the details that will allow the cows to reach their maximum potential.
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Fake news? Conflicting reports of shooting in Almaty as Russian and Kazakh governments appear to manipulate reporting for own agendas – bne…
Posted: at 4:44 am
Soldiers have started a military operation to clear the streets of Kazakhstans commercial capital and largest city, threatening to shoot on sight anyone that ventures abroad.
Russian state-owned news agencies have broadcast dramatic video of squadrons of soldiers walking down a wide street that they claim is close to Republic Square in the heart of the old capital and shooting machine guns at unseen assailants.
Russias flagship English-language channel RT reports that dozens are dead, including ten policemen, and that three of those have been beheaded.
The problem is thatbne IntelliNews correspondent in Almaty says that most of the reports are not true, or are at least highly suspect.
Fake news?
Currently it is next to impossible to verify or confirm the many dramatic reports coming out of Almaty. The internet has been shut down. All the independent media outlets and social media apps like the popular Telegram messaging service are not working.
However, Kazakh state media are still releasing information and the Russian state-owned press is also on the ground and broadcasting, including the Kremlins RT.
Some independent information is coming out of the country and it seems clear that there have indeed been shootings and killings of both Kazakh police and civilians. What is not known is the scale of the casualties and fatalities.bne IntelliNews correspondent, reporting by phone, says that there has been violence and fighting but from what he can glean by calling around to people that live at the scenes of the reported violence, the clashes have been on a smaller scale than some of the reports since January 5 havedescribed with estimates of dozens dead.
The Russian media outlet TASS also reported on the soldiers shooting at Republic Square in the heart of Almaty. The news agency releasedfootageof soldiers in an urban setting shooting down a street at unseen opponents the source of the video that was used by RT.
The RT report went on to say that banks have been robbed and stores looted. The reporter also claimed that at least 10 police officers have been killed and three were unfortunately beheaded, a claim that does not seem to have been picked up by other media reporting on the story and is new compared to early reports of eight policemen that died, reported the day before.
bne IntelliNews correspondent in Almaty warns that reports by the official media and Russian state-owned media should be treated with caution, as they have already reported on shootings thatbne IntelliNews correspondent can assess as fake news.
Those reports, I wouldn't believe them, as in the physical locations where the shooting is reportedly happening, I called people who live there and they say it has been peaceful all day. Nothing is happening,bne IntelliNews correspondent said in a phone call from Almaty.
Nevertheless, there have been multiple reports and videos that suggest some of the protesters have got access to guns, and other unconfirmed reports on social media show that there has been shooting in the city.
Official reports of around a dozen deaths amongst the police force also seem creditable, even if the reports of beheadings cannot be confirmed at this time. Video has also surfaced from what appears to be from a morgue of almost two dozen civilian corpses.
Mixed message
Another aspect of the reporting coming out of the old Silk Road way station of Almaty is that the Kazakh and Russian media have been contradicting each other on the severity of the crisis.
The context of Kazakh President Kassym-Jomart Tokayev's call on January 5 for military help from the Collective Security Treaty Organisation (CSTO) to quell the protests may be a decisive factor here. On the one hand, calling in Russian military is politically embarrassing for Tokayev, who already seems keen to play the need for outside help down;on the other hand, the Kremlin is motived to hype up the violence in the Kazakh city to justify what it has been selling as a peacekeeping mission to save lives and restore order. Some pundits have already been drawing parallels between the Russian military aid as an intervention or reminiscent of Prague in 1968, when the Soviet Union sent in tanks to put down the "Prague Spring" demonstrations.
The situation has been further confused by the speed of the changes in the last three days. On the first day Tokayev addressed the nationwith a conciliatorytone and concessions. He blamed and sacked the government for the spike in fuel prices that had sparked the first demonstrations. The subsidies were reintroduced and Tokayev announced a package of aid and price caps to try to deal with the core complaints of the protesters.
As it became clear the next day that these concessions were not going to placate the crowds as the demonstration was already morphing into more general anti-government unrest, Tokayevs line quickly hardened. He began to talk about hooligans and then within hours international organised and funded terrorists and financially motivated plotters.
Tokayev addressed his unrest-gripped Central Asian nation on January 5, vowing a "tough" response to mass protests over a New Year energy price hike. "As president, I am obliged to protect the safety and peace of our citizens, to worry about the integrity of Kazakhstan," he said in Russian on Kazakh television, adding that he intends "to act as severely as possible".
That is when he asked the CSTO for help. However, now the Russian soldiers are on the way, and some are already reportedly on the ground, the Kazakh official media is already backing away from its stern stance.
The official Kazakh media is already reporting things are calming down and things will go back to normal in the next few days. The Russian media are reporting that all hell is breaking loose,bne IntelliNews correspondent said.
The Kazakh media are reporting that the CSTO forces will come to protect infrastructure and will mainly be made up of [CSTO member states] Kyrgyz, Armenianand Tajik forces. However, the Russian media are saying the CSTO forces are coming in and are needed to bring peace, our correspondent continued.
From the ground it looks like [the] internet shutdown has been done so people don't know what is going on and stay at home, but when you talk to people who actually live there [amid the locations of the unrest]nothing seems to be happening,bne IntelliNews'correspondent reports. There is a lot of what looks like misinformation. After January 4 the next wave of protests were muted. The government stepped back and allowed the ransacking to go on but only now they say they are back in control, he added.
While RT is reporting on widespread vandalism and looting of banks and stores, our correspondent says the only obvious victim is the large Magnit shopping mall in the centre, which has been attacked, but there is no widespread looting.
Another factor at play is that, asbne IntelliNewshas reported, Tokayev appears to have opportunistically taken advantage to the crisis to remove the last hold on power of the former Kazakh president Nursultan Nazarbayev. Tokayev took over Nazarbayevs job as head of the National Security Council, the successor to the Soviet-era KGB,and has replaced key figures in the administration, including the head of the security services, with people loyal to himself.
Nazarbayevs name has disappeared from reporting in the last two days;[he] fled the country on January 5 and is now believed to be in Switzerland,bne IntelliNews'correspondent says. Officially Tokayev now holds all the levers of power.
Blood on the street
Despite all these complications, the protests in Almaty and elsewhere haveclearly got out-of-control and there most certainly have been casualties and deaths. Belowbne IntelliNewsreports on what has been broadcast and shared, but we emphasise that none of the posts or videos released can be verified. Moreover, we strongly suspect that some or possibly even all of the posts could be fake, as clearly both the Russian and Kazakh authorities have been trying to manipulate the information reaching the public to bring the protests to an end sooner in the case of the Kazakhs by terrorising the population, and to justify sending Russian troops to another country in the case of the Russians.
While information is sketchy, it is clear that there were major clashes between protesters and Kazakh police and in many incidents the protesters outnumbered the police who were not in control of the situation. Many of these reports were posted on social media before the internet was turned off during the afternoon of January 5.
Some 109 people have been hospitalised, according to official news reports, of which almost all were police officers, strongly suggesting that the demonstrators have had the upper hand on the second day of protests.
On January 5 those reports were followed by new reports of deaths amongst the security services. The Kazakh Internal Affairs Ministry says 10 police and national guard troops were killed in clashes with protesters and another 317 injured during unrest in several regions of Kazakhstan, Russian news service RIA reported. These early reports of the 10 dead policemen made no mention of any beheadings.
The social media that was still possible to release on January 5 showed copious video of protesters fighting with police and openly smashing and burning police cars and vans.
In another clip a group of about 20 protesters surrounded an officer in full riot gear and wrestled a shotgun from him and walked away with it. Shotguns are standard issue in protests and used for crowd control but usually fire non-lethal birdshot rather than deadly ammunition. During the Belarusian demonstrations in the summer of 2020 there were several confirmed reports of the use of shotguns firing birdshot against protesters.
But the most disturbingvideo(WARNING: graphic content) to emerge on social media is a clip circulating on Russian Telegram that appears to be shot from inside a morgue, where some 20 body bags are lined up in a small hall that contain what appears to be normal people who are cut and bruised, covered in blood.
Fight for the airport
The one clash thatcertainly occurredand was confirmed by Tokayev himself was the fight for the airport in Almaty that was briefly taken over by protesters on January 5, until local security troops recaptured it later in the day.
Tokayev referred to the seizure the next day, saying an assault to recapture it was led by Kazakh paratroopers. However, separately there were reports that Russian Spetsnaz participated in, or even carried out, the operation.
RT broadcast a recorded phone message from a Russian at the airport waiting to fly out as the airport was taken over. The passenger said that the staff of the airport suddenly left.
There are eight of us sitting here, but all the staff is leaving. They have not told us anything and they have not tried to evacuate us, the man said. Other reports described the same events, in reports that cannot be independently verified.
However, by the end of the day the airport was back in the governments hands, although no details of how that was achieved or if anyone was hurt in the operation were given.
The airport currently remains closed and no flights are going in or out of any of Kazakhstans three main international airports.
Nazarbayev reportedly leftAlmaty Airport shortly before it fell into the protesters hands on January 5 on a private jet, one of the last flights out of the country.
Guns
It also appears highly like that some of the protesters have armed themselves. More social mediafootageshowed men handing out rifles and machine guns in the last two days, getting ready to fight.
In another incident, there were unconfirmed reports that protesters had stormed a National Security Committee armoury in Almaty and emptied it of arms and ammo. Thefootageshowed men emptying lockers and gun racks of arms, while at least one man had an RPG (rocket-propelled grenade).
Some of the guns seem to be already in use. While there is little reliable reporting, in avideoposted on Twitter by BNO News during the evening of January 5, machine gun fire and loud explosions can clearly be heard on the street as screaming women flee.A secondvideoposted earlier in the day shows more heavy machine gun fire in what appears to be the centre of Almaty.
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