Spotlight On... Virginia health system to run $100M venture fund in support of Precision Medicine Initiative; Philips, Allianz, launch German chronic disease program; NIH takes photon-counting detector CT into clinic; and more...

Falls Church, VA, nonprofit healthcare system Inova Health System announced it will set up a $100 million venture fund focused on precision medicine. The Inova Innovation Fund will include an incubator program and commercialization program to scale breakthroughs for the healthcare system, and is a key plank of the healthcare system's goal to develop the biotech and diagnostics industry in its home state. The announcement was just a small part of the Precision Medicine Initiative Summit, which is being hosted by the White House. More

@FierceMedDev: Propeller partners with Aptar in hopes of winning race to first integrated 'smart' inhaler. Story | Follow @FierceMedDev

> Philips and Allianz Worldwide Partners have launched a connected health program in Germany aimed at encouraging chronic disease patients to make better lifestyle choices. More

> The Clinical Center at the National Institutes of Health (NIH) has started investing a next-gen computerized tomography (CT) scanner, known as a photon-counting detector CT scanner, in the clinical setting. More

> Versago Vascular Access has raised $1.7 million to develop what it expects will be the first reverse needle access port to offer a new subcutaneous port that could replace current technology such as central venous catheters. More

Biotech News

@FierceBiotech: Blocked and tackled by the FDA, AcelRx spikes on upbeat update on PhIII pain study. Article | Follow @FierceBiotech

> Backed by Bill Gates, low-profile Exicure steps into spotlight with a $42M R&D gamble. Story

> Booming WuXi eyes $1.5B IPO for biologics unit: report. More

Pharma News

@FiercePharma: Dana-Farber and MIT team says financial engineering could help pay for big-ticket meds. More | Follow @FiercePharma

> CNBC: Valeant's CEO ready to return from leave, but board isn't sure he's ready. Article

> Bayer's 2016 outlook falls short, but maybe that's a favor to incoming CEO Baumann. Story

CRO News

> A year after its LabCorp buyout, Covance posts steady sales. More

> WuXi's reportedly spinning off its biologics biz in an IPO. Report

> Post-Pfizer Icagen pairs up with Aptuit for drug discovery. Story

> Deal-hungry Icon posts solid final quarter results. Article

Pharma Manufacturing News

> Indian quality moves underway as industry, regulators meet. Report

> Indian pharma snaps up U.S. manufacturing with $1.5B worth of deals in 2015. More

> Japan's Mitsubishi Tanabe expected to have fast-production flu vaccine ready by 2019. Item

> Seqirus adding vax production facility in U.K. Story

> ICIG acquiring Novartis intermediates plant that was set to fold. Article

Pharma Asia News

> Japan's Otsuka announces new plan for delamanid to help curb TB. News

> India kicks off 'red line' guide on antibiotic overprescription. More

> Hong Kong seeks a seat at precision medicine services table. Report

> Indian drug firms bought big in 2015 M&A with U.S. manufacturing focus. Story

> Drug manufacturing quality standards push on in India. Article

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