Category: 3. Business

  • New Gates-QFFD Partnership Advances Health & Food Security

    New Gates-QFFD Partnership Advances Health & Food Security

    New catalytic funding will expand access to health, climate-resilient agriculture, and access to education across Africa and South Asia

    DOHA, QATAR (December 6, 2025) – On the sidelines of the Doha Forum, the Gates Foundation and the Qatar Fund for Development (QFFD) announced a five-year strategic partnership, committing US$500 million to drive accelerated progress in global health, climate-resilient agriculture, and education. The goal of the partnership is to help improve outcomes for mothers, children, and young people across Africa, South Asia, and Southeast Asia. The signing ceremony was held in the presence of H.E. Sheikh Thani bin Hamad Al-Thani, Chairperson of Qatar Fund for Development, and Bill Gates, chair of the Gates Foundation, who witnessed the formalization of the agreement.”

    “Solving big global health and development challenges takes more than good intentions. It requires practical innovation and partners committed to making sure those breakthroughs reach the people who need them most,” said Bill Gates. “Our partnership with the Qatar Fund for Development will help expand access to the tools that let families build healthier, more productive lives.”

    Strengthening Multilateral Health Platforms

    Both parties have agreed to strengthen multilateral platforms such as Gavi, the Vaccine Alliance; the Global Fund to Fight Aids, Tuberculosis and Malaria; and the Lives and Livelihoods Fund.

    Fahad Hamad Al- Sulaiti, Director General of the Qatar Fund for Development, stated:

    “This partnership reinforces Qatar’s commitment to tackling global development challenges through innovative and scalable financing. By deploying QFFD’s non-grant instruments, concessional loans, equity, guarantees, and transaction structuring, we are setting a new standard for sustainable, impact-driven cooperation. Together, we aim to mobilize US$500 million over five years to unlock transformative solutions for health, food security, climate resilience, and beyond.”

    A History of Collaboration

    The partnership follows the longstanding collaboration between the Gates Foundation and QFFD, including Nanmo, an initiative investing in climate-adaptive agricultural tools and technologies launched in 2022 to support smallholder farmers in sub-Saharan Africa, and the Doha Global South Health Policy Initiative, a South-South community of practice convening senior public health civil servants to address the unmet needs of low- and middle-income countries on policy implementation and solutions. Through the Nanmo partnership, the new funding announced today will expand climate-resilient catalytic projects, such as the aquaculture and nutrition work led by Worldfish, the development of aquaculture in Kenya, and the creation of jobs and improving food security for thousands of smallholder farmers.

    About the Gates Foundation 

    Guided by the belief that every life has equal value, the Gates Foundation works to help all people lead healthy, productive lives. In developing countries, we work with partners to create impactful solutions so that people can take charge of their futures and achieve their full potential. In the United States, we aim to ensure that everyone—especially those with the fewest resources—has access to the opportunities needed to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of Bill Gates and our governing board. 

    About the Qatar Fund for Development

    The Qatar Fund for Development (QFFD) is the State of Qatar’s official institution for international development and humanitarian assistance. Guided by Qatar’s National Vision 2030 and the State’s International Cooperation Strategy, QFFD works to empower communities and improve lives by investing in education, health, economic opportunity, and resilience across more than 100 countries. Leveraging a diversified financing toolkit including concessional loans, guarantees, grants, and blended finance QFFD delivers scalable, sustainable solutions that promote inclusive growth and long-term stability.

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  • This week's Fed meeting will highlight the central bank's challenge: Preventing a recession while tackling inflation – Morningstar

    1. This week’s Fed meeting will highlight the central bank’s challenge: Preventing a recession while tackling inflation  Morningstar
    2. The last Fed meeting of the year is approaching. Here’s where we could be headed  NPR
    3. This week’s Fed meeting will highlight the central bank’s challenge: Preventing a recession while tackling inflation  MarketWatch
    4. When Does the Fed Meet Again? Final 2025 Meeting & 2026 Dates  EBC Financial Group
    5. Final Federal Reserve Meeting  Southeast AgNET

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  • Viatris Announces Agreement to Monetize its Equity Stake in Biocon Biologics Limited

    Viatris Announces Agreement to Monetize its Equity Stake in Biocon Biologics Limited

    Viatris to Receive $400 Million in Cash and $415 Million in Equity Shares of Biocon Limited

    Transaction Accelerates the Expiration of Biosimilars Non-Compete Restrictions

    PITTSBURGH, Dec. 6, 2025 /PRNewswire/ — Viatris Inc. (Nasdaq: VTRS) today announced that it has entered into definitive agreements with Biocon Limited (“Biocon”) for the sale of Viatris’ equity stake in Biocon Biologics Limited (“Biocon Biologics”). Under the definitive agreements, Biocon will acquire all of Viatris’ convertible preferred equity in Biocon Biologics for total consideration of $815 million, consisting of $400 million in cash and $415 million in newly issued equity shares of Biocon.

    “This agreement is another important step in Viatris’ evolution,” said Scott A. Smith, Chief Executive Officer, Viatris. “Monetizing the value of our equity stake in Biocon Biologics and regaining access to the biosimilars market globally provides significant additional optionality as we continue to build a portfolio of generics, established brands and innovative brands that can contribute to our future growth.”

    Key Terms of Transaction
    Under the terms of the agreements, Viatris will sell its equity stake in Biocon Biologics to Biocon for $400 million in cash and $415 million in equity shares of Biocon Limited, which will be listed and traded on the National Stock Exchange of India. The shares are subject to a six-month lock up period. Transaction value will be subject to related taxes. In addition, the terms of the definitive agreements accelerate the expiration of biosimilars non-compete restrictions previously placed on Viatris in 2022 in connection with Viatris’ sale of its biosimilars portfolio and related commercial and other capabilities to Biocon Biologics. These restrictions will expire immediately at the time of close for all ex-U.S. markets and in November 2026 for U.S. markets. The transaction is expected to close in Q1 2026, subject to satisfaction of closing conditions.

    Citi is acting as financial advisor to Viatris. Cravath, Swaine & Moore LLP and Indian law firm Khaitan & Co. are acting as legal advisors to Viatris.

    About Viatris
    Viatris Inc. (Nasdaq: VTRS) is a global healthcare company uniquely positioned to bridge the traditional divide between generics and brands, combining the best of both to more holistically address healthcare needs globally. With a mission to empower people worldwide to live healthier at every stage of life, we provide access at scale, currently supplying high-quality medicines to approximately 1 billion patients around the world annually and touching all of life’s moments, from birth to the end of life, acute conditions to chronic diseases. With our exceptionally extensive and diverse portfolio of medicines, a one-of-a-kind global supply chain designed to reach more people when and where they need them, and the scientific expertise to address some of the world’s most enduring health challenges, access takes on deep meaning at Viatris. We are headquartered in the U.S., with global centers in Pittsburgh, Shanghai and Hyderabad, India. Learn more at viatris.com and investor.viatris.com, and connect with us on LinkedIn, Instagram, YouTube and X.

    Forward-Looking Statements
    This press release includes statements that constitute “forward-looking statements.” These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include statements that Viatris has entered into definitive agreements with Biocon for the sale of Viatris’ equity stake in Biocon Biologics; under the definitive agreements, Biocon will acquire all of Viatris’ convertible preferred equity in Biocon Biologics for total consideration of $815 million, consisting of $400 million in cash and $415 million in newly issued equity shares of Biocon; this agreement is another important step in Viatris’ evolution; monetizing the value of our equity stake in Biocon Biologics and regaining access to the biosimilars market globally provides significant additional optionality as we continue to build a portfolio of generics, established brands and innovative brands that can contribute to our future growth; under the terms of the agreements, Viatris will sell its equity stake in Biocon Biologics to Biocon for $400 million in cash and $415 million in equity shares of Biocon Limited, which will be listed and traded on the National Stock Exchange of India; the shares are subject to a six-month lock up period; transaction value will be subject to related taxes; the terms of the definitive agreements accelerate the expiration of biosimilars non-compete restrictions previously placed on Viatris in 2022 in connection with Viatris’ sale of its biosimilars portfolio and related commercial and other capabilities to Biocon Biologics; these restrictions will expire immediately at the time of close for all ex-U.S. markets and in November 2026 for U.S. markets; the transaction is expected to close in Q1 2026, subject to satisfaction of closing conditions. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: actions and decisions of healthcare and pharmaceutical regulators; our ability to comply with applicable laws and regulations; changes in healthcare and pharmaceutical laws and regulations in the U.S. and abroad; any regulatory, legal or other impediments to Viatris’ ability to bring new products to market; products in development and/or that receive regulatory approval may not achieve expected levels of market acceptance, efficacy or safety; longer review, response and approval times as a result of evolving regulatory priorities and reductions in personnel at health agencies; Viatris’ or its partners’ ability to develop, manufacture, and commercialize products; the scope, timing and outcome of any ongoing legal proceedings, and the impact of any such proceedings on Viatris; Viatris’ failure to achieve expected or targeted future financial and operating performance and results; goodwill or impairment charges or other losses; any changes in or difficulties with the Company’s manufacturing facilities; risks associated with international operations; changes in third-party relationships; the effect of any changes in Viatris’ or its partners’ customer and supplier relationships and customer purchasing patterns; the impacts of competition; changes in the economic and financial conditions of Viatris or its partners; uncertainties regarding future demand, pricing and reimbursement for the Company’s products; uncertainties and matters beyond the control of management, including but not limited to general political and economic conditions, potential adverse impacts from future tariffs and trade restrictions, inflation rates and global exchange rates; and the other risks described in Viatris’ filings with the Securities and Exchange Commission (“SEC”). Viatris routinely uses its website as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). Viatris undertakes no obligation to update these statements for revisions or changes after the date of this press release other than as required by law.

    SOURCE Viatris Inc.


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  • Elliott’s activism could drive upside as Barrick Mining hunts for new CEO

    Elliott’s activism could drive upside as Barrick Mining hunts for new CEO

    Attendees speak with representatives at the Barrick booth, at the Prospectors and Developers Association of Canada (PDAC) annual mining conference in Toronto, Ontario, Canada March 3, 2025.

    Carlos Osorio | Reuters

    Company: Barrick Mining (B)

    Business: Barrick Mining, formerly Barrick Gold Corporation, is a gold and copper producer, which is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. It has ownership interests in producing gold mines in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Papua New Guinea, Tanzania and the United States. Its copper mines are in Zambia, Chile and Saudi Arabia. Its operations include Nevada Gold Mines, Bulyanhulu, Hemlo, Jabal Sayid, Kibali, Loulo-Gounkoto, Lumwana, North Mara, Porgera, Pueblo Viejo, Tongon, Veladero and Zaldivar. Its Bulyanhulu operation is located in northwest Tanzania, over 55 kilometers south of Lake Victoria and 150 km southwest of the city of Mwanza. The Jabal Sayid copper operation is located 350 km northeast of Jeddah in the Kingdom of Saudi Arabia. The Lumwana copper mine is a conventional open pit operation.

    Stock Market Value: $69.16 billion ($40.38 per share)

    Stock Chart IconStock chart icon

    Barrick Mining shares year to date

    Activist: Elliott Investment Management

    Ownership: n/a

    Average Cost: n/a

    Activist Commentary: Elliott is a multistrategy investment firm that manages about $76.1 billion in assets (as of June 30, 2025) and is one of the oldest firms of its type under continuous management. Known for its extensive due diligence and resources, Elliott regularly follows companies for years before making an investment. Elliott is the most active of activist investors, engaging with companies across industries and multiple geographies.

    What’s happening

    On Nov. 18, Elliott announced a position in Barrick Mining and expressed its interest in seeing a potential separation of North American assets from its mines in riskier regions across Asia and Africa. Most recently, on Dec. 1, Barrick announced that the board has authorized the company to explore a potential separation of the North American assets.

    Behind the scenes

    Barrick Mining is a Toronto-based global mining company focused predominantly on gold, operating 14 gold mines, as well as three additional cooper mines. The core of this business is its North America Gold assets, which consists of some of the highest quality deposits in the world, specifically Nevada Gold Mines, a joint venture with Newmont in which Barrick owns 61.5% and serves as its operator. The company also operates gold mines in Africa, the Middle East, Latin America, and Asia. Its copper portfolio is centered around Africa and the Middle East, including Reko Diq, a new copper development project in Pakistan.

    With the recent bull market for gold, Barrick’s stock has more than doubled over the past six months. Despite this, Barrick continues to trade at 0.9 times its price to net asset value ratio, a significant discount to North American peers, who trade well above 1x, with best-in-class peers like Agnico Eagle trading at approximately 1.5x.

    Investors buy gold companies primarily for gold price exposure, and from there prefer the companies with the best management teams that operate the companies most efficiently to best isolate the value of the commodity. Barrick has not been a top operator amongst its peers and, as a result, they abruptly parted ways with their CEO in September and replaced him with Mark Hill, the former COO, as interim CEO.

    An interim CEO creates two very valuable opportunities for an activist in a company like Barrick. First and most importantly, they get to have a voice in who the new CEO will be regardless of whether they settle with the company for a board seat or just remain an outspoken shareholder. While they may not always be in the room when the discussions are had or the decision is made, we know of no CEO who would take a job at a company with an activist like Elliott engaging unless they knew that Elliott approved of the hiring.

    Second, when a company has an interim CEO, it is an advantageous time to explore strategic alternatives, and a breakup of this company has always been the elephant in the room.

    Barrick’s North American operations have been sullied by the company’s exposure to higher-risk regions and separating the two would go a long way to close the valuation gap between Barrick and Agnico Eagle.

    The value proposition for a breakup is clear and even something management has discussed. In a presentation released in May, management demonstrated that applying a peer-like multiple to Barrick’s North American assets could unlock as much as 49% of unrealized value. Since then, the price of gold has appreciated by over 70% but the company’s stock has appreciated by more than 100%, so much of that gain has been realized but there is still some value to be realized from a breakup.

    Elliott has a history of taking board seats at companies not for activist’s sake, but only when they feel that the director they are putting on the board could genuinely add value for shareholders. In this case, the breakup of the company is something that is being seriously considered by the board, and Elliott, just by its existence, is likely to have at least negative approval power over the new CEO.

    Moreover, Elliott does not act impetuously in its activism. They have likely had a position in Barrick for many months at this point and have already received a great return from the company’s 100% appreciation in the past six months. We would not expect them to escalate their activism here unless either the board goes down a path they didn’t expect and don’t agree with, or it is at the company’s invitation to join the board to assist with the tasks ahead.

    Ken Squire is the founder and president of 13D Monitor, an institutional research service on shareholder activism, and the founder and portfolio manager of the 13D Activist Fund, a mutual fund that invests in a portfolio of activist investments.

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  • Elon Musk says EU should be abolished after X slapped with $140 million fine

    Elon Musk says EU should be abolished after X slapped with $140 million fine

    Elon Musk sharply criticised the European Union on Saturday, declaring that the bloc “should be abolished” after his social media platform X was slapped with a $140 million fine just a day before.

    The penalty was imposed for alleged violations of the EU’s strict content and transparency rules. These rules, enforced in August 2023, set out what big tech companies can and cannot do when it comes to moderating content and handling user data.

    Musk argued that sovereignty must be returned to individual nations, so that governments can truly represent the interests of their people. His remarks come amid rising tensions between X and European regulators over the 27-nation bloc’s Digital Services Act.

    “The EU should be abolished and sovereignty returned to individual countries, so that governments can better represent their people,” he wrote on X (formerly Twitter), which his startup xAI acquired in 2022.

    In another tweet, Musk made a controversial comment, stating, “how long before the EU is gone? AbolishTheEU.”

    What did X do to attract the penalty?

    The European Commission said in a statement that it was penalising Elon Musk’s social media platform for violating three different transparency requirements under the law, AP reported.

    According to the regulators, the platform’s blue checkmarks broke the law because of their “deceptive design” that could potentially expose X users to various scams and manipulation.

    X also fell short of the requirements for its ad database and giving access to researchers access to public data, AP reported.

    The platform received a formal warning last year, as EU claimed that it has failed to combat dangerous content.

    All about the Digital Services Act

    The Digital Services Act or DSA, is a comprehensive rulebook aimed at holding online platforms more accountable for the safety and integrity of their digital spaces.

    It mandates these businesses to take proactive measures to protect European users, clean up harmful or illegal content and products on their sites, and additionally ensure transparency in how their algorithms work.

    The law grants regulators greater enforcement powers, including the authority to levy hefty penalties on platforms that fail to comply, making non-compliance a costly risk for companies operating in the region.

    At least two other major tecg companies, including Apple and Meta were also fined by the EU regulators this year, in order to make them comply with the Digital Markets Act. These companies were asked to pay a combined $797 million under the law, CNN reported earlier.

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  • Integrated Colorisensing Platform with Microneedles and Metal-Phenol N

    Integrated Colorisensing Platform with Microneedles and Metal-Phenol N

    Introduction

    Acetylcholinesterase (AChE), an essential enzyme in the cholinergic nervous system, is responsible for breaking down the neurotransmitter acetylcholine (ACh) into choline and acetate, thereby modulating the levels of ACh at synapses in a dynamic manner.1,2 Dysregulation of AChE activity—whether excessive or deficient—is closely associated with severe neurological disorders. Notably, enhanced AChE activity leads to the depletion of ACh, a hallmark of neurodegenerative diseases such as Alzheimer’s disease (AD), Parkinson’s disease, and Huntington’s disease.3 Conversely, elevated ACh accumulation due to suppressed AChE activity can disrupt neurotransmission, potentially resulting in fatal outcomes.4 Given its central role in neuroregulation, AChE has emerged as a key biomarker for neurodegenerative conditions,5 particularly AD, where its activity is significantly elevated in patients. Consequently, AChE inhibitors have garnered substantial attention as potential therapeutic agents for AD treatment. The development of highly sensitive and efficient biosensors to detect AChE activity and evaluate inhibitor efficacy is thus imperative—not only for early diagnosis of neurodegenerative diseases but also for accelerating drug discovery and personalized therapeutic strategies.

    Various sensing strategies have been developed for detecting AChE activity or screening its inhibitors, including colorimetric assays,6 fluorescent assays,7 chromatography-mass spectrometry,8 electrochemical sensors,8 and others. Among these, colorimetric analysis has gained significant attention in AChE activity assays due to its convenience, low cost, fast readout, ease of visual detection, and strong potential for point-of-care or ready-to-use applications.9,10 Nowadays, colorimetric detections of acetylcholinesterase and its drug inhibitors have been developed using molecularly imprinted polymers,11 nanomaterials,12 antibodies,13 and natural enzymes14 as recognition units. Nanoenzymes are a series of biological nanomaterials with enzyme-like catalytic capabilities, which have many advantages such as high catalytic activity, low cost, and ease of large-scale preparation.15,16 In addition, nanoenzymes also overcome some limitations of natural enzymes, such as low tolerance to pH, temperature, and organic solvents, impaired activity during long-term use, and difficult purification.17 For example, Lin’s research group prepared manganese dioxide (MnO2) nanosheets as an oxidase-mimicking nanomaterial, which could directly oxidize TMB into oxTMB without the need for horseradish peroxidase (HRP) and H2O2,18 supporting the colorimetric detection of acetylcholinesterase activity and its inhibitor. Other biomimetic enzyme-like nanomaterials, such as 2D Zn-TCPP(Fe) nanosheets,1 α-FeOOH nanorods,19 and FeMn DSAs/N-CNTs nanozymes,20 are also employed to develop colorimetric biosensors for the detection of AChE and its inhibitor. Although great progress in nanozyme-based colorimetric sensors has been made, it is necessary to develop a real-time, on-site, and portable approach for AChE detection and inhibitor screening. Amazingly, the development of microneedle-mediated POCT strategies hinges on the synergistic integration of biosensing and biofluid sampling. On one hand, the emergence of highly sensitive microneedle-mediated biosensors allows for the direct transduction of biochemical signals in the dermal layers, paving the way for novel closed-loop diagnostic systems.21 For instance, Ruan et al constructed a dual-continuous microneedle patch integrating transdermal delivery of pH-sensitive licorzinc MOFs and Zn2+ hydrogel sensors for managing alopecia areata.22 Meanwhile, these microneedle-based biosensors are powerfully complemented by substantial progress in using microneedles to efficiently extract interstitial fluid,23–25 which establishes a reliable, minimally invasive method to obtain a rich source of biomarkers, making subsequent laboratory-grade analysis possible at the point-of-care. Therefore, the integration of microneedle-mediated POCT strategies into nanozyme-based colorimetric sensors probably offer a potential approach for on-site monitoring of AChE in interstitial fluid, heralding a new era in point-of-care diagnostics of neurodegenerative diseases. A key advantage of this POCT platform is its ability to provide rapid, real-time feedback on AChE levels through minimally invasive sample analysis, enabling immediate clinical or therapeutic decision-making at the point of sampling.26 This capability empowers healthcare providers to optimize treatment protocols and monitor disease progression dynamically. Moreover, the developing smartphone-assisted POCT colorimetric system streamlines traditional AChE detection workflows, effectively shifting the diagnostic paradigm from centralized laboratories to decentralized settings such as clinics or even home care conditions. Importantly, this microneedle-based user-friendly smart POCT colorimetric sensor not only enhances patient engagement in biomarker monitoring but also supports data-driven choices for personalized healthcare interventions.27,28

    To achieve this aim, we ingeniously designed and constructed a portable Colorisensor coupling with microneedle and metal-phenol nanozyme for smartphone-assisted point-of-care testings of acetylcholinesterase activity and its drug inhibitor (Scheme 1). When pressing the microneedle array for contacting with the skin layer, the analytes in ISF could respond to Fe-PD nanozymes. In the presence of AChE, it catalytically hydrolyzes ATCh into TCh. With its high reducing ability, TCh induces the decomposition of Fe-PD nanozymes, causing the inhibition of their POD-like activity. Hence, with the increasing concentration of AChE, there is an apparently fading change in the color of the oxTMB solution oxidized by H2O2 under the catalysis of Fe-PD nanozymes. Furthermore, to make the detection more smart, convenient, and minimally invasive, we have combined colorimetric methods with microneedle technology and an RGB identification strategy to create a colorimetric microneedle-mediated biosensing array for intelligent detection of AChE activity and its inhibitors. The developed Colorisensor exhibits outstanding sensitivity, selectivity, repeatability, and long-term stability, which hold promising prospects in the early diagnosis and screening of therapeutic drugs for neurodegenerative diseases.

    Scheme 1 Schematic illustration of point-of-care testings of acetylcholinesterase activity and its drug inhibitor by the integrated smart color-sensing platform with microneedle arrays and metal-phenol nanozymes.

    Materials and Methods

    Reagents and Materials

    Dopamine hydrochloride (DA·HCl), iron(III) chloride hexahydrate (FeCl3·6H2O), hydrogen peroxide (H2O2), 3,3′,5,5′-tetramethylbenzidine (TMB), acetylcholinesterase (AChE), acetylthiocholine iodide (ATCh), berberine hydrochloride, potassium chloride (KCl), glucose (Glu), L-cysteine (L-Cys), glutathione (GSH), glucoseoxidase (GOx), lysozyme (Lyz), tyrosinase (Tyr), N-vinylpyrrolidone (NVP), ethoxylated trimethylolpropane triacrylate (ETPTA), 2-hydroxy-2-methylpropiophenone (HMPP), ethylene glycol dimethacrylate (EGDMA), 1×PBS buffer (pH=7.4), acetic acid (HAc), and sodium acetate (NaAc) were purchased from NanJing WanQing Chemical Glassware Instrument Co., Ltd. All chemicals were of analytical grade and used without further purification. All porcine ear skin samples were collected from healthy male domestic pigs, aged 8 months and weighing ~100 kg, obtained from a local market. The sacrifice of the pigs were not involved in this study. These specific sources and application basis of porcine skins were stated in Source Declaration of Porcine Ear Skin.

    Preparation and Characterization of Fe-PD Nanozymes

    To synthesize Fe-PD nanozymes, NH3·H2O was initially added to a conical flask containing a mixture of ethanol and deionized water (2/8, v/v), followed by stirring for 1 hour until the solution became homogeneous at a pH of 10. Subsequently, solutions of DA (15 mL, 50 mg/mL) and FeCl3·6H2O (5 mL, 50 mg/mL) were sequentially introduced into the aforementioned flask. The reaction solution was maintained at room temperature and stirred for 7 hours. Thereafter, the resulting Fe-PD product was subjected to centrifugation (13500 rpm, 30 min) and washed three times with deionized water and ethanol, respectively. Ultimately, the Fe-PD nanozymes were dried at 45 °C.

    The morphology and chemical composition of the synthesized Fe-PD nanozymes were thoroughly characterized using various analytical techniques. Scanning electron microscopy (SEM, Hitachi S4800) was employed to investigate the nanozymes’ structural features at an accelerating voltage of 5.0 kV, a beam current of 10 μA, and a working distance of 13.5 mm, with micrographs captured at a magnification of 30.0k. The detailed morphology and elemental composition of the nanozymes were analyzed using high-resolution transmission electron microscopy (HRTEM) and energy-dispersive X-ray spectroscopy (EDX) on an FEI Talos 200x instrument. The analysis was conducted in STEM mode with a high tension of 200 kV. Key parameters for the EDX spectrum imaging included a beam convergence of 10.5 rmad, a camera length of 98 mm, a spot size of 5, and a dwell time of 10.0 μm. The spectrum image was acquired at a magnification of 261kx with an image size of 1024×1024 pixels over 24 frames. The UV-Vis absorption spectrum of the Fe-PD nanozyme-based colorimetric system was recorded using an ultraviolet-visible spectrophotometer (UV-Vis, Shanghai MAPADA). The UV-Vis absorption spectra within the range of 550–750 nm were recorded at 25 °C. Quantitative analysis was performed based on the maximum absorption peak observed at 652 nm. Additionally, the zeta potential was measured with a laser particle size analyzer (Brookhaven, ZetaPALS) to evaluate the surface charge of the nanozymes.

    Enzyme-Like Activity and Steady-State Kinetics of Fe-PD Nanozymes

    The Enzyme-like activity of Fe-PD nanozymes was evaluated by the system, including Fe-PD (50 µL, 50 µg/mL), TMB (100 µL,2 mM), and H2O2 (100 µL, 10 mM) in the NaAC-HAC buffer (0.1 M, pH 4.0). After incubation for 6 minutes at 37 °C, UV-Vis absorption spectra were recorded at 652 nm, and corresponding photographs were taken to visually assess the reaction process. Steady-state kinetic analysis of Fe-PD nanozymes was conducted by varying the substrate concentrations of TMB (0.05 mM to 8.0 mM) and H2O2 (0.125 mM to 32.0 mM), while keeping the concentration of Fe-PD nanozymes constant. Absorbance spectra of the solutions were recorded at 652 nm. The Michaelis-Menten constant (Km) and the maximum reaction velocity (Vmax) were then calculated using the Michaelis-Menten equation, based on the relationship between substrate concentrations and reaction velocity.29,30

    Colorimetric Detection of AChE Activity and Its Inhibitor

    According to previous studies,31,32 the enzymatic activity of AChE and its inhibition by berberine hydrochloride were evaluated using a colorimetric assay of an aqueous TMB + H2O2 system. The assay was based on the oxidation of TMB catalyzed by Fe-PD nanozymes in the presence of H2O2, with the enzymatic hydrolysis product thiocholine (TCh) serving as an inhibitor of the oxidation reaction. Then, Fe-PD suspension (0.05 mg/mL in acetate buffer, pH 4.0), TMB solution (2 mM in ethanol), H2O2 solution (10 mM in deionized water), AChE solution (0.1–1000 mU/mL in PBS, pH 7.4), ATCh solution (30 mM in PBS), NaAc-HAc buffer (0.1 M, pH 4.0) were prepared. To validate the sensing mechanism, five control experiments were conducted: Group a (Control): NaAc-HAc buffer only. Group b (Fe-PD + H2O2 + TMB): To confirm TMB oxidation by Fe-PD/H2O2. Group c (Fe-PD + H2O2 + TMB + AChE): To assess AChE’s direct effect. Group d (Fe-PD + H2O2 + TMB + ATCh): To examine ATCh interference. Group e (Fe-PD + H2O2 + TMB + AChE + ATCh): To verify TCh-mediated inhibition of TMB oxidation. Then, different concentrations of AChE (0.01–1000.0 mU/mL) were incubated with ATCh (5 mM, 20 min, 37°C) to generate TCh. The reaction mixture was then added to a solution containing Fe-PD, H2O2, and TMB. The absorbance at 652 nm (oxTMB) was recorded using a UV-Vis spectrophotometer. To evaluate inhibitory effects, varying concentrations of berberine hydrochloride (0.1–150 μM) were pre-incubated with AChE (50 mU/mL) for 15 min at 37°C before adding ATCh. The residual AChE activity was determined by measuring the UV-Vis absorbance peak intensity at 652 nm from the suppression of TMB oxidation.

    Construction of Microneedle-Based Colorimetric Sensing Array and Characterizations of the Micronnedle Patch

    First, 23.75 mg of 3A-PBA, 750 μL of NVP, 100 μL of ETPTA, and 19 μL of EGDMA were added to a centrifuge tube, followed by shaking and ultrasonic treatment until the solution was thoroughly dissolved. Then, 9 μL of HMPP was added as a photoinitiator, and the mixture was shaken to ensure complete blending. The resulting solution was carefully injected into a designed polydimethylsiloxane (PDMS) microneedle mold (depth: 800 μm, base width: 400 μm, center space: 900 μm and placed in a vacuum chamber for 5 minutes. Subsequently, photo-crosslinking was performed under UV light (360 nm, 5 W) to form the microneedle array. The microneedle array was then carefully removed from the PDMS mold and stored in a desiccator for future use. Microneedle arrays were first incubated in Fe-PD nanozyme solution (0.05 mg/mL) for 1 h to allow boronate ester bond formation, then rinsed with PBS to remove unbound nanozymes. For ATCh loading, the above pre-functionalized microneedle arrays were incubated in the 30 mM ATCh solution for 30 min and dried under nitrogen.

    For the microneedle characterization, SEM imaging was performed under an accelerating voltage of 5.0 kV and a beam current of 10 μA, with a working distance of 18.5 mm, a stage tilt of 30°, and a magnification of 50. The demolding rate was calculated following the defined equation 1:


    Where No. Demolded microneedles represents the number of needles in the demolded microneedle patch, and No. Designed microneedles represents the number of needles in the designed microneedle mold.

    For the mechanical hardness of the microneedles, we positioned the microneedle patch on the sample stage of a single-column material testing machine (Instron 5940). Relevant test parameters were configured prior to the experiment, and the compression table was carefully adjusted to achieve proper clamping of the microneedle patch. Subsequently, a compression test was performed at a constant speed of 1.0 mm/min to determine the corresponding compressive mechanical curve.

    The microneedle array was immersed in 1× PBS solution (pH 7.4), and its weight was recorded at various soaking time points (0 min, 1 min, 3 min, 5 min, 7 min, 10 min, 20 min, 30 min, 60 min). According to the previous reference,33 the water absorption expansion rate was calculated following the equation 2:


    Where Ws is the weight of the microneedle patch after swelling, and W0 is the initial weight of the microneedle patch.

    POCT Analysis of AChE and Its Drug Inhibitor in Simulated Samples

    Before detection, fresh porcine ear skin purchased from the local market were used as model samples simulating human skin and processed through the following steps: (1) The pig skin was disinfected with 75% ethanol, followed by cleaning with phosphate-buffered saline (PBS, 10 mM, pH 7.4) to remove surface contaminants; (2) The clean skin was cut into uniform small pieces and incubated overnight at 4°C in an artificial interstitial fluid (AISF) containing different concentrations of AChE (1, 10, 100, 1000 mU/mL) and varying concentrations of berberine (0.1, 10, 20, 40, 80, 120, 160 μM); (3) After incubation, the excess liquid on the surface of the skin sample, containing the AChE or its inhibitor-AISF complex, was gently blotted with a lint-free cloth. This pre-treatment ensured the uniform distribution of AChE or its inhibitor in the dermal matrix, thereby ensuring the accuracy of the subsequent detection results. Next, the engineered nanozyme-based microneedle Colorisensor patches were pressed onto the surface of the pre-treated porcine skin. After 20 minutes of contact, the patches were immersed in TMB (2 mM, 1000 μL) and H2O2 (10 mM, 1000 μL) for 3 minutes. The patches were then removed, and the color change of the patches was observed. The RGB values of the patches were measured using a color detection app on a smartphone.

    Statistical Analysis

    Statistical analysis of the data was performed using GraphPad Prism 10 Software. All data were presented as the mean ± the standard deviation (SD). Specifically, Tukey’s multiple comparison test was employed to further elaborate on significant differences among various groups. The data were marked as (*) P < 0.05, (**) P < 0.01, (***) P < 0.001, and (****) P < 0.0001. The P-value above 0.05 was considered non-significant (ns).

    Results and Discussions

    Preparation and Characterization of Fe-PD Nanorods

    To our knowledge, dopamine tends to form the 0D sphere or 2D film when metal and ligands undergo cross-linking.34,35 In this study, we employed a novel approach through Fe (III)-catechol coordination interaction, producing Fe-PD nanorods that served as catalytic components of the POCT colorimetric sensor. Our template-free strategy has overcome key issues in the fabrication process of nanorod-structured synthesized enzymes, including complicated experimental routines, strict conditions, long time-consuming, difficult removal, and residual side effects of the template.36 To prepare Fe-PD nanorods, dopamine and Fe3+ were successively added for chelation in an alkaline ethanol/water reaction system (Figure 1A). During the reaction stage, the catechol groups of dopamine can strongly chelate and cross-link with Fe to form Fe-PD precursor.37,38 These chemical chelates were further aggregated and polymerized by radical polymerization, resulting in Fe-PD nanorods for the next step of ATCh sensing. The SEM images in Figure 1B and C exhibited the change of the resulting DA-Fe chelates from nanospheres to nanorods. The Fe-PD nanorods were synthesized with a length of about 346.0 nm and a diameter of about 88.2 nm in a mold alkaline environment, as shown in the high-angle angular dark field-scanning transmission electron microscope (HAADF-STEM) image of Figure 1D. The EDS spectroscopy characterization (Figure 1E and Table S1 in Supporting Information) indicated that ≈6.0 wt% Fe element is uniformly distributed in the Fe-PD nanorods, which means effective Fe (III) chelate with dopamine molecules. Meanwhile, the zeta potential of the Fe-PD⁺ nanorods was measured at −17.2 mV, representing a notable positive shift compared to pristine PDA (−38.7 mV) (Figure S1). These findings collectively confirm the successful formation of Fe-PD nanorods.

    Figure 1 (A) The synthesis procedure of Fe-PD nanozymes. (B) The SEM image of the initial coordinated Fe-PD nanospheres; (C) The SEM image of the finally prepared Fe-PD nanorods. (D) HAADF-STEM image of Fe-PD nanorods. (E) EDS mapping of the Fe-PD nanorods. (F) Schematic illustration of the POD-like catalytic process of Fe-PD nanozymes. (G) Kinetics for POD-like activity of Fe-PD nanozymes with different concentrations of TMB (0.05–8 mM). Inset: Corresponding Lineweaver-Burk plot with a resulting linear equation of y = 0.055x + 0.065 (R2 = 0.9992). (H) Kinetics for POD-like activity of Fe-PD nanozymes with different concentrations of H2O2 (0.125–32.0 mM). Inset: Corresponding Lineweaver-Burk plot with a resulting linear equation of y = 0.0262x + 0.1092 (R2 = 0.9974).

    Afterwards, potential possibilities of Fe-PD nanorods were investigated for the role of nanozymes in POCT colorimetric sensors. Herein, to determine the enzymatic-like activity of Fe-PD nanorods, we further studied their enzymatic catalytic behavior using the TMB-H2O2 reaction system. Generally, peroxidase can catalyze colorless TMB to produce blue oxTMB by generating active hydroxyl radicals in the presence of H2O2,39 accompanied by the appearance of a characteristic absorption peak at 652 nm.40 To systematically evaluate the catalytic efficiency of Fe-PD nanorods as nanoenzymes (Figure 1F), we conducted steady-state kinetic parameter analysis, including the Michaelis constant (Km) and maximum reaction rate (Vmax). By adjusting the concentrations of TMB and H2O2, the steady-state kinetics were investigated to better understand the enzyme-like activity of the prepared Fe-PD nanorods. In Figure 1G and H, Fe-PD nanorods exhibit typical Michaelis-Menten models at different concentrations of TMB and H2O2, respectively. Moreover, when changing the concentration of the other substrate, Lineweaver-Burk curves can be obtained (Insets of Figure 1G and H). The resulting Km value and Vmax of Fe-PD nanorods were evaluated by fitting the Lineweaver-Burk equation in the double reciprocal plot. The Km of Fe-PD nanorods for TMB and H2O2 are calculated as 0.85 and 0.24 mM, respectively. Its Km (TMB) value is lower compared to that of the HRP [Km (TMB): 0.43 mM]; meanwhile, its Km (H2O2) value is smaller than that of the HRP [Km (H2O2): 3.7 mM].41 Additionally, when using the TMB as the substrate, Fe-PD nanorods achieved a stronger affinity with higher catalytic efficiency (Vmax = 15.38×10−8 MS−1) compared to that of previously reported other nanozymes using TMB as substrate (Table S2). Further, this nanorod-structured Fe-PD enzyme exhibits outstanding affinity with a higher maximum reaction rate (9.16×10−8 MS−1) when using H2O2 as the substrate, which exceeds most of the counterpart nanozymes (Table S3). The outstanding POD-like activity of the Fe-PD nanozyme is attributed to its three-dimensional rod-shaped structure (as illustrated in Figure 1C) and numerous catalytic sites, significantly promoting electron transfer.42 The inclusion of Fe3+ serves to reconfigure the electronic distribution,43 further enhancing its POD-like activity. More importantly, Fe-PD nanorods, as metal-catechol ligand cross-linking nanomaterials, could maintain their enzymatic-like catalytic activity over a long time with a low RSD value of 1.06% and attenuation rate less than 3.0% (until 85 days, Figure S2). These exciting results indicate the stronger affinity and catalytic activity of Fe-PD nanozymes than natural HRP and other reported POD-like nanozymes, with excellent practical stability. This further proves that Fe-PD nanozymes have reliable POD-like behavior, and this preparation approach could be advantageous for practical applications.

    Analytical Performance of This Colorisensor for AChE

    Taking advantage of excellent POD-like activity, Fe-PD nanozymes could effectively catalyze the oxidation of colorless TMB (Curve a in Figure 2A) to produce the blue oxTMB (Curve b in Figure 2A) in the presence of hydrogen peroxide, resulting in a marked increase in absorbance at 652 nm. Experimental results showed that the only addition of AChE (Curve c in Figure 2A) or ATCh (Curve d in Figure 2A) had no significant impact on the absorbance of the system, indicating that these components did not interfere with the colorimetric assay. As shown in Figure 2A-Curve e and Figure 2B, when both AChE and ATCh were present in the system (with their pre-reaction producing TCh), the absorbance significantly decreased, suggesting that TCh generated by AChE-catalyzed hydrolysis of ATCh could effectively inhibit the catalytic activity of Fe-PD nanozymes and prevent the oxidation of TMB. These findings demonstrate that the Colorisensor, based on the specific inhibition effect of TCh on Fe-PD nanozyme activity, can achieve AChE detection. This proves the AChE analytical feasibility of the colorimetric assay.

    Figure 2 (A) UV-vis spectra of the colorimetric biosensing system in the absence and in the presence of AA. The colorimetric biosensing system includes a: TMB + Fe-PD, b: TMB + Fe-PD + H2O2, c: TMB + Fe-PD + H2O2 + AChE, d: TMB + Fe-PD + H2O2 + ATCh, and e: TMB + Fe-PD + H2O2 + AChE + ATCh. Inset: corresponding solution color photographs. (B) Comparison of the above corresponding absorbance peak intensity. (C) Effects of Different incubation time (3 min, 5 min, 10 min, 20 min, and 60 min), (D) Different incubation temperature (4 °C, 25 °C, 37 °C, 45 °C, and 60 °C), and (E) added volume ratio of ATCh and AChE on the absorbance peak intensity of the Colorisensor system. VATCh and VAChE represent the added volumes of ATCh and AChE, respectively. (F) The relationship calibration curve between the absorbance of the Colorisensor system and the logarithm of the AChE activities (CAChE: from 0.01 to 1000.0 mU/mL) obtained by the Colorisensor. Inset: corresponding solution color photographs. Lg(CAChE) represents the logarithm values of AChE concentration to the base 10. R2 represents fitting coefficient of the linear relationship curve. Data were expressed as mean ± SD, n = 4, nsP> 0.05, *P< 0.05, **P< 0.01, ***P< 0.001, ****P< 0.0001.

    To obtain better analytical performance of this Colorisensor, the experimental conditions, including incubation time, incubation temperature, and content ratio of ATCh and AChE, were optimized. As shown in Figure 2C, the relationship between incubation time and the absorbance peak intensity of oxTMB at 652 nm decreased with increasing incubation time, ranging from 3 to 60 min. When the reaction time was 20 min, the peak intensity almost reached the plateau. Thus, 20 min was chosen as the optimal reaction time. Similarly, reaction temperature and content ratio of ATCh and AChE were also optimized as 37 °C (Figure 2D) and 1:1 (Figure 2E), respectively. Under the optimal experimental conditions, we conducted a detailed analysis of the detection performance of the Colorisensor. Plotting the longitudinal absorbance values versus the logarithm of the AChE activities within the range of 0.01–1000.0 mU/mL (Figure 2F), exhibits a good linear relationship. According to the linear regression equation of y = −0.0954x + 0.2907 (R2=0.9990), the detection limit of this Colorisensor was estimated as 0.007 mU/mL. Correspondingly, the solution color changed from blue to colorless with the increase of AChE (Inset in Figure 2F), further validating the excellent detection ability of the Colorisensor for AChE activities.

    Repeatability, Stability, and Selectivity of This Colorisensor

    Before practical analysis, other key detection parameters (including repeatability, stability, and selectivity) of this Colorisensor were tested. As shown in Figure 3A, the relative standard deviation (RSD) of eight independent sensors for 50 mU/mL of AChE detection is about 1.29%, suggesting that the Colorisensor holds outstanding repeatability. To investigate the selectivity of our developed colorimetric biosensing system, several potential interfering substances, including KCl, Glu, L-Cys, GSH, GOx, Lyz, and Tyr, were selected. In Figure 3B, the detection of AChE could not be interfered by these interfering substances, proving that this Colorisensor has excellent selectivity. Prominently, the colorimetric sensor also has long-term storage stability. The RSD of this Colorisensor for 50 mU/mL of AChE detection over 30 days is only 1.83% (Figure 3C). The above results demonstrate the great potential analytical performance of the Colorisensor for the diagnosis of degenerative diseases.

    Figure 3 (A) Repeatability of eight independent Colorisensors used to detect 50 mU/mL of AChE in AISF. (B) Effect of several interferences on the absorbance of the developed Colorisensor at 652 nm in the presence of interferences [KCl (0.15 mM); Glu (4 mM); L-cys and GSH (0.18 mM); GOx, Lyz, and Tyr (50 mU/mL)]; and AChE (50 mU/mL). (C) Storage stability of our Colorisensors for 30 days.

    Detection of the AChE Inhibitor

    Because of the great performance of the colorimetric sensing platform, it was further expanded by exploring its potential application for the determination of AChE inhibitor. Berberine is a promising effective inhibitor of the activity of AChE owing to its neuroprotective effects and treatment of Alzheimer’s Disease.44 As shown in Figure 4A, the absorption intensity gradually increased with increasing berberine concentrations. Figure 4B displayed the trend of inhibition efficiency with berberine concentration ranging from 0.1 to 40.0 μM, which can be determined by the equation: y = 0.0089x + 0.0418 (R2=0.9920). The corresponding solution gradually returned to its blue color of oxTMB. The LOD was 0.034 μM by using the 3σ/slope method, suggesting that the proposed Colorisensor platform was able to achieve berberine detection visually.

    Figure 4 (A) Absorbance of the colorimetric system at 652 nm with increasing berberine concentration from 0.1 to 160 μM. (B) Corresponding relationship between absorption peak intensity and the berberine concentration (0.1–40 μM). The linear equation: y=0.0089x + 0.0418 (R2=0.9920).

    POCT Analysis in Simulated Samples by the Microneedle-Based Color-Sensing Array

    To evaluate the POCT application in the condition surrounding simulated complex components in vivo, we first constructed the microneedle-based colorisensing array to carry out the actual detection of the activity of target AChE or the inhibiting effects of drug berberine on enzyme activity. The microscopic images of the microneedle array in Figure 5A displayed the well-arranged microneedle structures with uniform morphology, which is the basis for sampling and analyzing biofluid in the sensing platform. To ensure optimal penetration into the skin while minimizing tissue damage, the microneedle arrays were designed with a specific geometry. As shown in Figure 5B, dimensional information of the microneedle array could be provided with their height (H) of 775.4 μm, width (W) of 393.8 μm at the base, and center space (S) of 984.6 μm, ensuring an appropriate size to penetrate the epidermis layer and perform sensing functions. The Colorisensor microneedle array was fabricated via a photopolymerization-micromold method, as Figure 5C exhibited its SEM image for revealing the uniformity and sharpness of the microneedle tips, which are crucial for effective contact with tissue fluid. As shown in Figure S3, the microneedle patch was fabricated with a calculated demolding rate of 99.73%. To test the mechanical hardness of the microneedles, we conducted compression mechanical experiments at the speed of 1.0 mm/min to obtaining a force of approximately 0.18 N per needle (Figure S4), which exceeds the transdermal threshold ~0.058 N per needle.45 The resulting penetration depth of microneedles to pig skin was about 716 μm (Figure S5), indicating their ability to penetrate the stratum corneum and access the dermis layer for analyte detections. To better exhibit the sample ability, we investigated the swelling behavior of the microneedle patch, and defined the water absorption expansion rate as the evaluation index of its swelling performance. As a result, the water absorption expansion rate was calculated as about 156% (Figure S6).

    Figure 5 (A) microscopic image of part regions, (B) Cross-section image of the microneedle sensing array, and (C) SEM image of the microneedle sensing array. (D) Schematic illustration of Fe-PD nanozyme-mediated colorisensing visual evaluation of AChE activity and its drug inhibitors by the easy-to-use smartphone-assisted microneedle array platform. (E) Change of visible light G·B/R values of microneedle arrays with AChE concentrations of 1, 10, 100, and 1000 mU/mL, along with 30 mM of ATCh in porcine ear skin. Inset: Corresponding color photographs of the microneedle arrays. (F) Corresponding relationship between Visible light G·B/R values of microneedle arrays and Lg(AChE concentration), with the linear equation of y = −35.1x + 228.4 and R2= 0.9873. (G) Change of visible light G·B/R values of microneedle arrays with berberine concentrations (0.1, 1, 10, 20, 40 μM) in porcine skin. Inset: Corresponding color photographs of the microneedle arrays. (H) Corresponding relationship between visible light G·B/R values of microneedle arrays and berberine concentration, with the linear equation of y = 3.789x + 140.5 and R2= 0.9827.

    Afterwards, the sampling duration for the microneedle patch was determined through a combination of quantitative in vitro kinetics and ex vivo visual confirmation. We immersed the microneedle patches in artificial interstitial fluid (AISF) and quantitatively monitored the water absorption expansion rate over time. The data indicated that the water absorption expansion rate reached a plateau (the equilibrium stage) after approximately 20 min (Figure S7), suggesting that the patch’s fluid uptake capacity was nearly saturated. To corroborate the in vitro findings and visually demonstrate the sampling process, we applied the patches to pig skin. The microneedle patch contains a colorimetric indicator (CoCl2) whose color changes from blue to pink upon interaction with the extracted interstitial fluid. We observed that the color change progressed gradually and then stabilized, reaching a consistent and unchanging state after a period of 20 minutes (Figure S8). This visual endpoint provided direct evidence that the active sampling process was complete. The strong agreement between the quantitative swelling equilibrium and the qualitative color stabilization gave us high confidence that a 20-min sampling duration is sufficient to ensure the patch operates at its full capacity, guaranteeing complete and efficient sample collection for reliable analysis. The covalent linkage between 3A-PBA and Fe-PD nanozymes minimized the nanozyme detachment, while the low RSD values (2.80%, Figure S9) verified the consistent loading efficiency across batches. The characterization of nanozyme coating stability via continuous washing tests (RSD=3.12%, Figure S10) to further validate the robustness of the modification on the microneedle arrays. To evaluate the actual POCT performance of the Colorisensor platform, we conducted the detection experiment of AChE and its inhibitor on a fresh porcine ear skin as the simulated real in vivo condition, which is reported as a typical in vitro model due to its content of ISF (about 70% of human skin).46,47 The RGB recognition strategy was employed to quantify the color changes induced by the enzymatic activity of AChE. As depicted in Figure 5D, the microneedle array was applied to the porcine skin spiked with different activities of AChE, and the resulting color changes were captured using a smartphone app. The RGB values were then analyzed to determine the AChE activity. The visible light intensity was defined as (G·B)/R values for quantitative analysis of enzyme activity. As shown in Figure 5E, a clear activity-dependent response to different concentrations of AChE was exhibited. The linear relationship between the logarithm of AChE concentration and the visible light (G·B)/R value is illustrated in Figure 5F, with a correlation coefficient (R2) of 0.9973. This indicates that the Colorisensor platform can accurately detect AChE activity over a broad range from 0.01 mU/mL to 1000 mU/mL at point-of-care (POC), with a limit of detection (LOD) as low as 0.049 mU/mL. Meanwhile, the developed Colorisensor demonstrates comparable accuracy to the standard Ellman’s method under spiked conditions (Figure S11), while exhibiting a wider detection range and a lower detection limit compared to both traditional assays and emerging nanomaterial-based colorimetric methods (Table S4).

    To further validate the inhibitor detection utility of the Colorisensor platform, we chose berberine hydrochloride as an inhibitor candidate of AChE. The results presented in Figure 5G and H demonstrate a significant decrease in the visible light intensity (G·B)/R value with increasing concentrations of berberine. The linear regression analysis showed a strong correlation (R2 = 0.9827) between the berberine concentration and the observed color changes from 0.1 μM to 40 μM, with a low LOD of 0.098 μM indicating the high sensitivity and accuracy of the Colorisensor for POC detecting AChE inhibitors.

    Potential Applications and Future Perspectives

    This study primarily demonstrates the application of our microneedle and nanozyme-based Colorisensor for AChE detection, focusing on its potential in the early diagnosis and drug screening of neurodegenerative diseases. The minimally invasive nature, high sensitivity, and portability of our platform address a critical need for point-of-care monitoring of chronic biochemical changes, such as the subtle fluctuations in AChE activity associated with the onset and progression of conditions like Alzheimer’s disease.48,49

    Beyond this primary focus, we recognize that the significant potential of our platform in other AChE-related testing scenarios. A prominent example is the rapid screening of organophosphate and carbamate pesticide poisoning, where AChE inhibition is a well-established clinical biomarker.50,51 While current field tests for poisoning are often qualitative, our Colorisensor offers a quantitative, highly sensitive, and user-friendly alternative. It could not only confirm exposure but also help stratify poisoning severity and objectively monitor the efficacy of antidote administration at the point of care, which is crucial in agricultural and low-resource settings. We envision that our Colorisensor will evolve into a multi-scenario POCT tool, capable of addressing diverse needs in both chronic disease management and emergency medicine.

    Conclusion

    In summary, we develop a highly sensitive acetylcholinesterase assay based on a microneedle-based colorimetric nanosensing platform. Integrating metal-phenol nanozymes with peroxidase-like activity that responds to target-induced changes, and combining smartphone-based RGB color recognition, the platform achieves rapid and easy-to-operate AChE activity detection with a broad linear range of 0.01–1000 mU/mL and excellent selectivity. It successfully identifies berberine as a candidate AChE inhibitor, demonstrating promising potential for applications in drug inhibitor screening fields. Notably, the microneedle-based sensing concept presented herein is a proof-of-concept. To realize point-of-care testing, further engineering optimizations, such as miniaturization of supporting detection devices, improvement of on-site readout convenience, and enhancement of practical applicability in complex biological scenarios are required. Furthermore, the versatility of this sensing strategy suggests promising potential for expansion into other application fields, such as rapid on-site screening for pesticide exposure, highlighting its broad impact in both clinical and public health settings.

    Author Contributions

    All authors made a significant contribution to the work reported, whether that is in the conception, study design, execution, acquisition of data, analysis and interpretation, or in all these areas; took part in drafting, revising or critically reviewing the article; gave final approval of the version to be published; have agreed on the journal to which the article has been submitted; and agree to be accountable for all aspects of the work.

    Funding

    This research was supported by Science and Technology Program of Suzhou (SYW2025037) and Science and Technology Program of Taicang (TC2024JCYL23).

    Disclosure

    The authors declare no conflict of interest.

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    31. Cao Y, Chen Y, Zhou Y, Chen X, Peng J. Direct detection of acetylcholinesterase by Fe(HCOO)2.6(OH)0.3. H2O nanosheets with oxidase-like activity on a smartphone platform. Talanta. 2024;274:126074. doi:10.1016/j.talanta.2024.126074

    32. Zhou Y, Luan T, Fang Q, Zhang Y, Du Y. Molecularly tailored Pd@Pt nanozymes for real-time smartphone-assisted acetylcholinesterase detection and therapeutic inhibitor assessment. Sens Actuators B. 2025;440:137889. doi:10.1016/j.snb.2025.137889

    33. Zhu Z-R, Huang J-N, Li J-Z, Cao H, Lin Z-Y, Li Y. Janus hydrogel/electrospun-membrane dressing enhancing wound healing in rats. Biomed Eng Commun. 2024;3:10. doi:10.53388/BMEC2024010

    34. Wang Z, Zou Y, Li Y, Cheng Y. Metal-containing polydopamine nanomaterials: catalysis, energy, and theranostics. Small. 2020;16:1907042. doi:10.1002/smll.201907042

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  • Deutsche Bank to move into Revolut’s Canary Wharf headquarters, FT reports

    Deutsche Bank to move into Revolut’s Canary Wharf headquarters, FT reports

    Dec 6 (Reuters) – Germany’s Deutsche Bank (DBKGn.DE), opens new tab has opted to take about 250,000 square feet of London’s Canary Wharf office space in a building that carries the logo of British fintech Revolut, the Financial Times reported on Saturday.

    The German bank will take about twice as much space in the YY building on South Colonnade as Revolut, the report said, citing people familiar with the matter.

    Sign up here.

    Deutsche Bank declined to comment on the report. Canary Wharf Group referred Reuters to asset manager Oaktree Capital Management, which owns the building, when asked for a comment. Oaktree declined to comment.

    Oaktree bought the building in a joint venture with real estate firm Quadrant Estates in 2019, according to Quadrant’s website. Quadrant could not be reached for comment.

    Revolut became the first tenant of the building last year, taking on 40% more floor space for its new headquarters.
    Canary Wharf Group, which runs the wider financial district and is co-owned by QIA and Canada’s Brookfield (BN.TO), opens new tab, was hit by the pandemic-induced fall in office demand. The area has rebounded as more firms push staff to return to the office.
    Visa (V.N), opens new tab is relocating its European headquarters to the district, Canary Wharf Group said on Friday.
    JPMorgan Chase (JPM.N), opens new tab last week made public a plan to build a tower in Canary Wharf that it said would contribute 9.9 billion pounds ($13 billion) over six years to the local economy – including the cost of construction – and create 7,800 jobs.

    ($1 = 0.7502 pounds)

    Reporting by Angela Christy and Gnaneshwar Rajan in Bengaluru; Editing by Sam Holmes, William Mallard and Barbara Lewis

    Our Standards: The Thomson Reuters Trust Principles., opens new tab

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  • Assessing First Quantum Minerals After Its 76% Rally and Copper Price Optimism

    Assessing First Quantum Minerals After Its 76% Rally and Copper Price Optimism

    • Wondering if First Quantum Minerals is still good value after its big run, or if you are late to the party? This breakdown will help you decide whether the current price makes sense or is getting ahead of itself.

    • The stock has climbed 4.6% over the last week, 16.8% over the past month, and 76.0% year to date, with a 63.4% gain over the past year that has clearly caught the market’s attention.

    • Much of this move has been driven by shifting sentiment around copper prices and expectations for long term supply constraints, as investors increasingly treat copper exposed miners as leveraged plays on the energy transition. On top of that, headlines around First Quantum’s asset mix, project pipeline, and jurisdictional risks have kept the stock in the spotlight and added volatility to how investors are pricing its future cash flows.

    • Despite the rally, First Quantum Minerals currently scores 5 out of 6 on our valuation checks, suggesting it still screens as undervalued on most metrics. Next, we will dig into those different valuation approaches, before finishing with a more holistic way to think about what the stock is really worth.

    Find out why First Quantum Minerals’s 63.4% return over the last year is lagging behind its peers.

    The Discounted Cash Flow model estimates what a business is worth by projecting the cash it could generate in the future and then discounting those cash flows back to today in dollar terms. For First Quantum Minerals, the 2 Stage Free Cash Flow to Equity model starts from last twelve month free cash flow of about $1.5 billion, and then applies analyst forecasts for the next few years before extrapolating longer term trends.

    Analysts and model estimates see free cash flow rising to roughly $4.0 billion by 2029, with detailed projections stepping up from the low hundreds of millions in 2026 into the multi billion range later in the decade as new projects and higher copper volumes are factored in. Simply Wall St then extends these growth patterns into the following years to capture a full value for the business.

    Bringing all of those cash flows back to today, the DCF fair value is estimated at $93.10 per share. That implies the shares trade at about a 64.2% discount to intrinsic value, which suggests material upside if these cash flow assumptions prove broadly correct.

    Result: UNDERVALUED

    Our Discounted Cash Flow (DCF) analysis suggests First Quantum Minerals is undervalued by 64.2%. Track this in your watchlist or portfolio, or discover 906 more undervalued stocks based on cash flows.

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  • Reassessing Valuation After a 7% Monthly Rebound in the Share Price

    Reassessing Valuation After a 7% Monthly Rebound in the Share Price

    Accenture (ACN) has been grinding higher recently, with the stock up about 7% over the past month despite a rough year for shareholders. That move has investors rechecking whether today’s price still lines up with fundamentals.

    See our latest analysis for Accenture.

    The recent rebound follows a tough stretch, with a negative year to date share price return and a roughly 12 month total shareholder return still in the red. This hints that sentiment is improving but not fully repaired.

    If Accenture has you rethinking your tech exposure, this could be a good moment to explore high growth tech and AI stocks for other potential opportunities riding similar digital transformation themes.

    With earnings still growing and the share price lagging its recent peak, investors now face a key question: is Accenture quietly offering value at today’s levels, or is the market already pricing in its next leg of growth?

    According to FCruz, the narrative implies a fair value well below Accenture’s last close of $266.59, setting up a tension between quality and price.

    Bottom line (fundamental stance) I’m moderately constructive over 12 to 18 months. Accenture combines (i) scaled exposure to GenAI-led reinvention with tangible bookings, (ii) high-quality margins, returns, and FCF, and (iii) a reset valuation near historical norms. The near-term swing factor is bookings momentum; if that stabilizes or improves, upside to the Street’s mid-30s EPS multiple case becomes more plausible.

    Read the complete narrative.

    Want to see how modest revenue growth, steady margins and a premium future earnings multiple still argue for a much lower fair value than today? The full narrative walks through those moving parts step by step, but keeps one core valuation lever front and center. Curious which assumption does most of the heavy lifting, and how sensitive the outcome is if it shifts?

    Result: Fair Value of $202.38 (OVERVALUED)

    Have a read of the narrative in full and understand what’s behind the forecasts.

    However, persistent weakness in bookings or a sharper slowdown in consulting spend could quickly challenge the case for Accenture’s current premium valuation.

    Find out about the key risks to this Accenture narrative.

    While the most popular narrative sees Accenture as roughly 31.7% overvalued, our valuation work using a simple earnings multiple lands in a different place. At 21.5 times earnings, the stock trades well below the US IT industry average of 30.3 times and peers at 25.3 times, and also below a fair ratio of 36.7 times that the market could drift toward over time.

    That gap suggests investors are paying a noticeable discount for a business with high quality earnings and strong returns on equity, which could limit downside if growth stays steady. However, it also raises a tougher question: what if the market never fully closes that valuation gap?

    See what the numbers say about this price — find out in our valuation breakdown.

    NYSE:ACN PE Ratio as at Dec 2025

    If you see the story differently or prefer your own due diligence, you can build a personalized view in just minutes with Do it your way.

    A good starting point is our analysis highlighting 5 key rewards investors are optimistic about regarding Accenture.

    Before you move on, lock in an edge by scanning fresh opportunities with the Simply Wall Street Screener so your next decision is intentional and not reactive.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Companies discussed in this article include ACN.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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  • The history of denim and how jeans were created

    The history of denim and how jeans were created

    Jodie Foster, Billie Perkins, and Robert De Niro perform a scene in Taxi Driver directed by Martin Scorsese in 1976 in New York, New York.

    Michael Ochs Archives | Moviepix | Getty Images

    In the dwindling days of the California gold rush, the wife of a local miner faced a problem. 

    Her husband’s denim work pants kept ripping, so her tailor, Jacob Davis, had the idea to add copper rivets to key points of strain, like the pocket corners and the base of the button fly, to keep them from tearing. 

    Davis’ “riveted pants” soon became a roaring success and, unbeknownst to him at the time, marked the official birth of the blue jean, a garment that would transform fashion and come to represent the United States around the globe. 

    “It really has democratized American fashion and it also is the greatest export that we have sent to the world, because people identify jeans specifically with American Western culture,” said Shawn Grain Carter, a fashion professor at the Fashion Institute of Technology in New York. “It doesn’t matter your economic or social class. It doesn’t matter what your views are in terms of the political spectrum. Everybody wears denim.” 

    Jacob Davis

    Courtesy: Levi Strauss & Co.

    These days, denim is a major sales driver for retailers big and small, as the global denim market reached $101 billion this year, up 28% from 2020, according to data from market research company Euromonitor International. Major apparel companies from American Eagle to Levi Strauss are in a race to corner that market, leaning on A-list celebrities like Sydney Sweeney and Beyonce to win over shoppers and drive sales in an unsteady economy.

    But if it weren’t for Levi Strauss, founder of the eponymous blue jeans company, Davis’ invention may not have gone far beyond the railroad town where it was created in the early 1870s. 

    How Levi’s created blue jeans

    Soon after Davis created his riveted pants, called “waist overalls” or “overalls” at the time, they began selling like “hot cakes” and he needed a business partner to secure a patent, said Tracey Panek, Levi’s in-house historian. So he wrote to Strauss, a Bavarian-born immigrant who was running a successful wholesale business in San Francisco and had supplied Davis the denim he used to create his riveted pants. 

    “The secret of them Pents is the Rivits that I put in those Pockets and I found the demand so large that I cannot make them up fast enough,” Davis wrote Strauss in a letter, according to PBS. 

    Levi Strauss

    Courtesy: Levi Strauss & Co.

    Strauss, an “astute” businessman, recognized the opportunity and agreed to partner with Davis, said Panek. 

    “This would have been the first time that Levi was actually” manufacturing his own products, said Panek. “He was no longer just importing and selling other people’s goods. He was manufacturing himself and selling to retailers.”

    On May 20, 1873, the two men secured a patent for the riveted pants and eventually opened a factory on Fremont Street, close to the modern-day Salesforce tower in San Francisco’s financial district. 

    They promised to offer workers the most durable jeans on the market and soon, business was booming. 

    Dude ranch duds and the American worker

    Through Strauss’ connections as a wholesaler, the company’s riveted overalls soon spread across the U.S., becoming the garment of choice for working men everywhere: miners, cowboys, farmers – any role that required durable clothing. 

    Jeans were exclusively reserved for work settings at the time, but as emerging denim manufacturers vied for a similar customer base, they looked to expand their assortment to drive sales. 

    “Slowly and steadily into the 20th century, you start to see some of these manufacturers making variations,” said Sonya Abrego, a New York City-based fashion historian. “There was this one design called spring bottom pants that was kind of a more form fitted, a more dressed up, a slightly flared, maybe what the factory foreman would be wearing, right? As opposed to just the guy on the shop floor.”

    In 1934, Levi created the first ever line of jeans for women. Around that time, denim started to become more popular in settings outside of work, primarily for activities like dude ranch vacations, camping and horseback riding. 

    “So they were kind of taking on a cowboy’s garment or a worker’s garment but wearing it in a … resort setting,” said Abrego. 

    Courtesy: Levi Strauss & Co.

    Dude ranch vacations had become popular because there were finally highways connecting different parts of the country, and few were willing to venture to Europe during a war. Companies like Levi began releasing advertisements highlighting their denim as “dude ranch duds” and “authentic western riding wear” to capture shoppers looking for jeans to bring with them on vacation, according to archival advertisements from the time. 

    These cultural moments helped to expand denim beyond workers, but jeans didn’t become widespread casual attire until after World War II, when American fashion overall started to shift. 

    The rise of the backyard BBQ 

    By the time World War II ended, the mighty American consumer was beginning to emerge. For years, Americans had been forced to ration common goods like rubber, sugar and meat while simultaneously being encouraged to save their money by buying war bonds and socking away spare cash.

    When the country shifted from wartime to peacetime, Americans were ready to splurge and soon began spending big on new cars, appliances and clothes. 

    “With a little bit more money to spend, you start seeing a bigger push for leisure clothes and fun clothes and play clothes, clothes to wear to backyard barbecues,” said Abrego. “Clothes that we would consider today as just like casual style.” 

    Courtesy: Levi Strauss & Co.

    Slowly and surely, it became more and more acceptable for both men and women to wear jeans outside of work settings. Then, denim manufacturers made a push to allow jeans in schools. 

    “They wanted to sell to as many people as they possibly could,” said Abrego. “The idea that jeans are good for school means that they’re good for every day.”

    By the time the 1960s hit, denim manufacturers had expanded their products and were selling a wide variety of colors, fits and styles. It became a symbol of the hippie movement and a mainstay on Hollywood sets.

    Soon, denim was everywhere, and the 1970s brought the iconic bell bottom pants and the first iteration of the “designer jean” — denim pants being produced by labels and brands whose designs had nothing to do with work wear or western wear, like Calvin Klein and Gloria Vanderbilt.

    Since then, denim has remained a constant in global fashion. While silhouettes, washes and fits have changed over time, jeans never really go out of style, which is what makes them so enduring, said Abrego. 

    “This is a design from 1873 … do we see anything else from 1873 on the street? It’s kind of wild if you think about it that way,” said Abrego. “We can talk about all the details, all the changes in manufacturing and all the different fits and finishes but it’s a recognizable thing, it’s still a pair of jeans. For me as a historian, that continuity is so compelling because I can’t really name anything else that has stayed the same to this degree.” 

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