Category: 3. Business

  • 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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  • 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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  • Following a 14% decline over last year, recent gains may please Ameriprise Financial, Inc. (NYSE:AMP) institutional owners

    Following a 14% decline over last year, recent gains may please Ameriprise Financial, Inc. (NYSE:AMP) institutional owners

    • Institutions’ substantial holdings in Ameriprise Financial implies that they have significant influence over the company’s share price

    • A total of 17 investors have a majority stake in the company with 50% ownership

    • Recent sales by insiders

    Trump has pledged to “unleash” American oil and gas and these 15 US stocks have developments that are poised to benefit.

    A look at the shareholders of Ameriprise Financial, Inc. (NYSE:AMP) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are institutions with 87% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.

    Institutional investors would appreciate the 4.7% increase in share price last week, given their one-year losses have totalled a disappointing 14%.

    Let’s delve deeper into each type of owner of Ameriprise Financial, beginning with the chart below.

    See our latest analysis for Ameriprise Financial

    NYSE:AMP Ownership Breakdown December 6th 2025

    Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

    We can see that Ameriprise Financial does have institutional investors; and they hold a good portion of the company’s stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It’s therefore worth looking at Ameriprise Financial’s earnings history below. Of course, the future is what really matters.

    earnings-and-revenue-growth
    NYSE:AMP Earnings and Revenue Growth December 6th 2025

    Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. Hedge funds don’t have many shares in Ameriprise Financial. The Vanguard Group, Inc. is currently the largest shareholder, with 13% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 9.7% and 4.8%, of the shares outstanding, respectively.

    Looking at the shareholder registry, we can see that 50% of the ownership is controlled by the top 17 shareholders, meaning that no single shareholder has a majority interest in the ownership.

    While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.

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  • Trump likes Australia’s retirement-savings program – but could it actually work in the U.S.?

    Trump likes Australia’s retirement-savings program – but could it actually work in the U.S.?

    By Charles Passy

    America’s retirement system desperately needs reform

    President Trump suggested the U.S. should consider the Australian retirement-savings model.

    Could America’s signature retirement-savings program look a lot like Australia’s one day?

    That’s the idea President Trump hinted at earlier this week, saying the Australian model is a “good plan” that has “worked out very well.”

    “We’re looking at it very seriously,” Trump said.

    In a nutshell, the Australian plan takes some of what’s already baked into the American 401(k) retirement-savings model, but expands upon it in significant ways that assure more people have more savings by the time they reach retirement age. Called the “superannuation” (or “super”) model, the program requires employers to make a 12% contribution to a retirement fund on behalf of the employee. The employee can also contribute an amount beyond that.

    ‘We’re looking at it very seriously.’President Donald Trump, on the U.S. possibly adopting the Australian retirement-savings model

    In the U.S., the 401(k) model works by giving employees the chance to participate in a retirement-savings program through their employer, with tax benefits to employees for doing so. But the employer is not obligated to offer a 401(k) plan – and even if they do, there’s no requirement they make any kind of contribution to it.

    Indeed, research has shown that 56 million private-sector workers in the U.S. lack access to a retirement-savings plan. And even among employees who have a 401(k), the employer contribution is typically in the form of a match, which often equates to 4% to 6% of an employee’s salary – far below that 12% Australian figure.

    Australia’s program, with the mandatory employer-contribution aspect, has been in place since 1992, but it didn’t start at 12%. In fact, it began with just 3%, but over time the figure grew incrementally to the current 12%. Still, it has resulted in Australian workers, on average, accumulating the equivalent of around $115,000 (that’s roughly $173,000 in Australian currency (AUDUSD)).

    Those enrolled in U.S. 401(k) plans actually have a bit more than that; the average 401(k) balance is $148,153, though it should be noted that wages and the cost of living are lower in Australia.

    Perhaps the more relevant data point, however, is the fact that 78% of Australians participate in the “super” program. By contrast, just 59% of Americans have a retirement-savings plan, be it a 401(k), 403(b) or an individual retirement account (IRA), according to a Gallup survey.

    But some financial experts say it might be politically tough to push through an Australian-style program in the U.S., especially given the financial burden it places on companies – and small ones in particular.

    A plan that mandates that businesses contribute to employee retirement plans at such a high level “will never happen,” said Teresa Ghilarducci, a noted retirement authority who’s an economics professor at the New School in New York City.

    Plus, even those who give the Australian system high marks point to issues within it. A key one: Even though the system helps ensure that workers save a significant sum for retirement, it doesn’t necessarily guide them on how to tap that money once they retire – by turning it into, say, a monthly income stream they can parse out carefully over time as they deal with any number of medical or other issues they may face as they age.

    “The system still struggles to help retirees navigate longevity risk, inflation and cognitive decline,” said Tomas A. Geoghegan, founder of Beacon Hill Private Wealth in New Jersey.

    That said, the American 401(k) model doesn’t offer any systemized way of parsing out, or annuitizing, one’s retirement savings, either.

    In any case, there’s little question that the current retirement-savings system in the U.S. needs to be revamped. Without an improved safety net, Americans will be relying more heavily on Social Security than ever, experts note. And as Americans are constantly reminded, Social Security is under threat as it is.

    “We absolutely have to do something,” said Holly Verdeyen, a partner at Mercer, a consulting firm that focuses heavily on retirement planning.

    Mercer rates retirement systems throughout the world, and gives the Australian model a solid B+. By contrast, the U.S. gets a C+.

    The U.S. has already been looking at ways to revamp its retirement-savings model, regardless of whether or not it considers the Australian one.

    For starters, under what’s commonly referred to as the Secure 2.0 Act, Congress authorized such changes as letting employers automatically enroll employees into 401(k) plans and allowing employees between the ages of 60 and 63 to increase their maximum retirement contributions.

    On top of that, a number of states are looking at ways for employees to access retirement-savings programs.

    But more sweeping national reform is still needed, many argue. And some say it could come in the form of the Retirement Savings for Americans Act (RSAA), which is currently making its way through Congress. It calls for a program that would broaden accessibility to tax-advantaged retirement-savings accounts and would have the federal government match contributions for workers below certain income levels.

    In the meantime, the Australian model is still out there.

    White House spokesman Kush Desai wouldn’t get into specifics about how the model could work in the U.S., but told MarketWatch: “The administration is closely examining all options to help Americans build wealth and achieve prosperity.”

    -Charles Passy

    This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

    (END) Dow Jones Newswires

    12-06-25 0800ET

    Copyright (c) 2025 Dow Jones & Company, Inc.

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  • Remarks by Commissioner Uyeda for Investor Advisory Committee Meeting

    Remarks by Commissioner Uyeda for Investor Advisory Committee Meeting

    Good afternoon and thank you for the flexibility in allowing me to deliver my remarks towards the end of the day due to scheduling issues. Earlier, the Committee engaged in discussions on corporate governance and tokenization and will later discuss artificial intelligence disclosures.

    Today, also, is the final Committee Meeting for our Investor Advocate. I want to extend my appreciation to Cristina [Martin Firvida] for her dedication and professionalism. Cristina is the second Investor Advocate in the Commission’s history. When she was selected, I was not quite sure what to expect from her. However, Cristina won me over by finding areas of mutual agreement and then executing upon them. One of Cristina’s important contributions is reforming the selection process for Committee members. As an SEC staff member, I was here at the very beginning of the Committee. It became clear that the departure of a significant majority of the Committee members every four years was not conducive to longer-term thinking. Through Cristina’s efforts, we now have a plan where approximately a quarter of the Committee will be replaced annually, thereby obtaining a smoother transition of new members into the Committee. Thank you, Cristina, for your outstanding service and I wish you the best in your future endeavors!

    Corporate governance plays a role in investor confidence and market integrity. It encompasses the systems, principles, and processes by which companies are directed and controlled. At its core, effective governance ensures that companies are accountable to shareholders and resilient in the face of evolving risks.

    Over time, the role of governance has expanded beyond traditional oversight. Companies are increasingly expected to navigate complex issues such as cybersecurity and emerging technologies. A well-functioning board must not only monitor management but also anticipate and adapt to systemic shifts that could affect long-term value creation.

    However, Congress specifically left the states in charge of governance under state corporate law. The federal securities laws and regulations play an important complimentary role in providing disclosure, describing the governance structure, the rights of shareholders, and potential risks associated with a company’s particular structure as well as for providing a regulatory framework for proxy solicitation.

    Yet, as we consider reforms, we must be mindful of the temptation to use the Commission’s disclosure authority for registration statements and proxy materials, as well as oversight of exchange listing requirements, to impose prescriptive governance mandates. It is inappropriate to mistake the “investor protection” and “public interest” standards contained in the federal securities laws as Congressional authority to set national corporate governance standards. Congress does not “hide elephants in mouse holes.”

    Corporate governance is best left to the market to decide. If a potential shareholder does not like a particular governance framework — such as whether it is board composition, independence, expertise, then there is a simple solution: do not invest. Companies with corporate governance structures that are not well received by investors will have a higher cost of capital and a depressed stock price.

    Similarly, another area of recent discussion is the Commission’s clarification regarding mandatory arbitration provisions in registration statements and how the presence of such provisions will not be an impediment to acceleration of effectiveness. Some panelists might have argued earlier today that this represents a reversal of prior Commission policy or weakening of investor protections. In fact, the Commission has never had a policy prohibiting such provisions. Our recent Policy Statement simply articulates that, absent a clear congressional directive, the applicability of the Federal Arbitration Act was not overruled by the federal securities laws, and the existence of an arbitration provision is not grounds for denying effectiveness under Section 8(a) of the Securities Act.

    This approach is consistent with judicial precedent and ensures that our rulebook is clear, transparent, objective, and predictable. To suggest otherwise is to mischaracterize both the law and the absence of any prior Commission’s policy.

    During consideration of this Policy Statement at the open meeting, I specifically asked whether the Commission could adopt the opposite position. In other words, assume that the parade of horrible described by critics of mandatory arbitration provisions were to occur. Would the Commission have the legal authority to issue a policy statement specifically denying the acceleration of effectiveness of any registration statement if it disclosed the preference of a mandatory arbitration provision? The answer was essentially no — if the disclosure was adequate, then that would be essentially merit regulation, which was not authorized by the federal securities laws.

    Finally, let me express my appreciation for the Committee’s recent work on artificial intelligence disclosures. This is a rapidly evolving area of corporate activity. As AI becomes more deeply integrated into business operations, the need for material information by investors may grow. The Committee has proposed that issuers:

    1. Define what they mean by “artificial intelligence” in their disclosures;
    2. Disclose board oversight mechanisms, if any, for AI deployment; and
    3. Report separately on the material effects of AI on internal operations and consumer-facing matters.

    I recognize that these recommendations are grounded in a materiality-based approach and are designed to fit within the existing disclosure framework under Regulation S-K. Furthermore, the Committee’s decision to build on existing disclosure items—rather than propose a standalone AI regime—is a pragmatic one that avoids unnecessary structural complexity.

    That said, it is important to approach this area with caution. There are practical and conceptual challenges that merit further consideration. For example, the lack of a universally accepted definition of “artificial intelligence” could create interpretative and disclosure issues. Boards, management, and their outside counsel may struggle to determine what qualifies as AI, particularly when distinguishing between traditional automation and more advanced machine learning systems.

    Similarly, while board oversight is a critical governance function, mandating disclosures in this area may not always yield meaningful insight for investors—especially if oversight responsibilities are diffuse or still evolving. And while reporting on the material effects of AI is a reasonable goal, it may be difficult in practice to isolate those effects separately from regular business operations.

    Moreover, we must be mindful of the potential for regulatory overreach. Prematurely codifying rigid disclosure mandates could stifle innovation, particularly for smaller issuers that may lack the resources to implement complex compliance systems. A one-size-fits-all approach may not be appropriate in a space where use cases, risks, and maturity levels vary widely across industries.

    As we consider the Committee’s recommendation, our goal should not be to use the federal securities laws as a backdoor attempt to regulate AI. Rather, we must ensure that investors are not left in the dark about material risks and opportunities that may arise from the use of AI in business operations and strategy and to do so in a manner without being encumbered by prescriptive or duplicative requirements.

    The Committee provides a forum for this ongoing dialogue, and I look forward to continued engagement on this issue.


    1 Ritter, Ling, Elephants in Mouseholes: The Major Questions Doctrine in the Lower Courts, 76 Stan. L. Rev. 1381, 1392 (2024), https://review.law.stanford.edu/wp-content/uploads/sites/3/2024/06/Ritter-76-Stan.-L.-Rev.-1381.pdf. (go back)

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  • Volkswagen to invest $186 billion through 2030, CEO says

    Volkswagen to invest $186 billion through 2030, CEO says

    FRANKFURT, Dec 6 (Reuters) – Volkswagen Group plans to invest 160 billion euros ($186 billion) through 2030, its CEO Oliver Blume said, reflecting belt-tightening as Europe’s top automaker faces a major crisis in its two key markets, China and the United States.

    Total spending, updated annually as part of Volkswagen’s rolling five-year investment plan, compares with 165 billion euros for the 2025-2029 period and 180 billion for 2024-2028, with 2024 marking a peak.

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    Since then, Volkswagen , which includes the Porsche and Audi brands, has been squeezed by tariffs on U.S. imports and fierce competition in China.
    This has hurt profits most notably at Porsche, which sells around half its cars in just these two markets and unveiled a major roll-back on its electric vehicle strategy.

    Blume told the weekly Frankfurter Allgemeine Sonntagszeitung that the focus in the latest spending plan was “on Germany and Europe,” including in products, technology and infrastructure. He said talks about an extended savings programme at Porsche would run into 2026.

    PORSCHE NOT EXPECTED TO GROW IN CHINA, BLUME SAYS

    Blume, who will step down as Porsche CEO in January to focus on the Volkswagen CEO role, said considerations around a potential U.S. plant for Audi depended on possible substantial financial support by Washington.
    While Porsche (P911_p.DE), opens new tab was not expected to grow in China, he said localising production in the wider Volkswagen group was possible and a tailor-made Porsche model for China could make sense one day.
    Blume said a recent contract extension as Volkswagen CEO until 2030 was a clear signal of support by the shareholding Porsche and Piech families (PSHG_p.DE), opens new tab, as well as the German state of Lower Saxony, Volkswagen’s two biggest investors.

    “But it is true, of course, that shareholders have suffered losses since Porsche went public three years ago. I, too, must face up to this criticism.”

    ($1 = 0.8590 euros)

    Reporting by Christoph Steitz; Editing by Bernadette Baum
    Editing by Bernadette Baum

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

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  • Vertex Presents New Data on CASGEVY®, Including First-Ever Data in Children Ages 5-11 Years, at the American Society of Hematology Annual Meeting and Announces Plan for Global Regulatory Submissions

    Vertex Presents New Data on CASGEVY®, Including First-Ever Data in Children Ages 5-11 Years, at the American Society of Hematology Annual Meeting and Announces Plan for Global Regulatory Submissions

    – Data from pivotal studies of CASGEVY in children ages 5-11 years with severe sickle cell disease or transfusion-dependent beta thalassemia demonstrates the transformative potential of the therapy in younger patients –

    – Efficacy and safety data in children 5-11 years are consistent with the durable and positive benefit/risk profile established from clinical studies in patients 12 years of age and older –

    Vertex expects to initiate global regulatory submissions for CASGEVY in children 5-11 years in 1H 2026 –

    BOSTON–(BUSINESS WIRE)–Dec. 6, 2025–
    Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced data from multiple studies demonstrating the clinical benefits of CASGEVY® (exagamglogene autotemcel) in people ages 5 years and older living with severe sickle cell disease (SCD) or transfusion-dependent beta thalassemia (TDT). The results, including the first presentation of clinical data from pivotal studies in children ages 5-11 years, and longer-term data from the pivotal studies of people with severe SCD and TDT ages 12 years and older, will be presented at the American Society of Hematology (ASH) Annual Meeting. CASGEVY is currently approved for eligible people ages 12 years and older with SCD or TDT in the United States, Great Britain, the European Union, the Kingdom of Saudi Arabia, the Kingdom of Bahrain, Kuwait, Qatar, Canada, Switzerland and the United Arab Emirates.

    “These results — the first clinical data ever presented on any genetic therapy for children ages 5-11 years with SCD — again demonstrate the transformative potential of CASGEVY,” said Carmen Bozic, M.D., Executive Vice President, Global Medicines Development and Medical Affairs, and Chief Medical Officer at Vertex. “With dosing completed in the 5-11 age group and the Commissioner’s National Priority Voucher for CASGEVY in this population in hand, we are excited to begin global regulatory filings in the first half of next year and bring this potentially transformative therapy to eligible children as soon as possible.”

    “As an investigator in the clinical program for patients 12 years and older and after having real-world experience with CASGEVY as an early commercial treatment center, I have seen firsthand the transformative impact this therapy has had on older patients with SCD or TDT. I am excited to hopefully be able to offer this option to my younger patients soon, early in life, before some of the most devastating impacts of these diseases begin,” said Haydar Frangoul, M.D., M.S., Medical Director of Pediatric Hematology and Oncology at Sarah Cannon Research Institute and HCA Healthcare’s TriStar Centennial Children’s Hospital, Member of Vertex’s SCD Program Steering Committee, and presenting author of the 5-11 years old CASGEVY data at ASH.

    First presentation of data in children ages 5-11 years treated with CASGEVY

    • In children with SCD, 11 patients have been dosed with CASGEVY in the Phase 3 CLIMB-151 clinical study, and all (4/4) patients with sufficient follow-up achieved the primary endpoint of being free from vaso-occlusive crises (VOCs) for at least 12 consecutive months (VF12).

      • No patient experienced a VOC following infusion with CASGEVY, with the longest duration of VOC-free of approximately two years (range 3.2–24.1 months).
    • In children with TDT, 13 patients have been dosed with CASGEVY in the Phase 3 CLIMB-141 clinical study, and all (6/6) patients with sufficient follow-up achieved the primary endpoint of transfusion independence for at least 12 consecutive months while maintaining a weighted average hemoglobin (Hb) of at least 9 g/dL (TI12).

      • Following CASGEVY infusion, 12/13 are transfusion free, with the longest duration of transfusion free just under two years (range 2.3–22.5 months).
      • One patient died from pneumonia in the setting of multi-organ failure due to severe veno-occlusive disease related to the busulfan conditioning.
    • The safety profile of CASGEVY in younger patients is consistent with myeloablative conditioning and autologous transplant in both SCD and TDT, as established in clinical studies in older patients.
    • Consistent with studies in older patients, children treated with CASGEVY have durable increases in fetal hemoglobin (HbF) and stable allelic editing.

    Longer-term data for people with SCD and TDT ages 12 years and older treated with CASGEVY

    New longer-term data from the pivotal clinical studies of CASGEVY in people 12 years and older will also be presented at ASH. These data, as of April 2025, continue to demonstrate the transformative, durable clinical benefits that CASGEVY provides to people living with SCD or TDT. In SCD, 100% of patients (45/45) achieved VF12 in either CLIMB-121 or the long-term follow-up study CLIMB-131, with a mean duration of VOC-free for 35.3 months (range 12.9–67.7 months). In TDT, 98.2% (55/56) achieved TI12 in either CLIMB-111 or CLIMB-131 with a mean duration of transfusion independence of 41.4 months (range 13–72.3 months). The safety profile remained consistent with myeloablative conditioning and autologous transplant in both SCD and TDT.

    About Sickle Cell Disease (SCD)

    SCD is a debilitating, progressive and life-shortening disease. It is an inherited blood disorder that affects the red blood cells, which are essential for carrying oxygen to all organs and tissues of the body. SCD causes severe pain, organ damage and shortened life span due to misshapen or “sickled” red blood cells. The clinical hallmark of SCD is vaso-occlusive crises (VOCs), which are caused by blockages of blood vessels by sickled red blood cells and result in severe and debilitating pain that can happen anywhere in the body at any time. SCD requires a lifetime of treatment and results in a reduced life expectancy. In the U.S., the median age of death for patients living with SCD is approximately 45 years. SCD patients report health-related quality of life scores well below the general population, and the lifetime health care costs in the U.S. of managing SCD for patients with recurrent VOCs is estimated between $4 and $6 million.

    About Transfusion-Dependent Beta Thalassemia (TDT)

    TDT is a serious, life-threatening genetic disease. It requires frequent blood transfusions and iron chelation therapy throughout a person’s life. Due to anemia, patients living with TDT may experience fatigue and shortness of breath, and infants may develop failure to thrive, jaundice and feeding problems. Complications of TDT can also include an enlarged spleen, liver and/or heart, misshapen bones and delayed puberty. TDT requires lifelong treatment and significant use of health care resources, and ultimately results in reduced life expectancy, decreased quality of life and reduced lifetime earnings and productivity. In the U.S., the median age of death for patients living with TDT is 37 years. TDT patients report health-related quality of life scores below the general population and the lifetime health care costs in the U.S. of managing TDT are estimated between $5 and $5.7 million.

    About CASGEVY® (exagamglogene autotemcel)

    CASGEVY is a non-viral, ex vivo CRISPR/Cas9 gene-edited cell therapy for eligible patients with SCD or TDT, in which a patient’s own hematopoietic stem and progenitor cells are edited at the erythroid specific enhancer region of the BCL11A gene through a precise double-strand break. This edit results in the production of high levels of fetal hemoglobin (HbF; hemoglobin F) in red blood cells. HbF is the form of the oxygen-carrying hemoglobin that is naturally present during fetal development, which then switches to the adult form of hemoglobin after birth. CASGEVY has been shown to reduce or eliminate VOCs for patients with SCD and transfusion requirements for patients with TDT.

    The use of CASGEVY in children ages 5-11 years is investigational.

    About the CLIMB Studies

    The Phase 1/2/3 open-label studies, CLIMB-111 and CLIMB-121, are designed to assess the safety and efficacy of a single dose of CASGEVY in patients ages 12-35 years with TDT or with SCD and recurrent VOCs. Patients will be followed for approximately two years after CASGEVY infusion in these studies. CLIMB-141 and CLIMB-151 are ongoing Phase 3 open-label studies, designed to assess the safety and efficacy of a single dose of exagamglogene autotemcel in patients ages 2-11 years with TDT or with SCD and recurrent VOCs. Enrollment and dosing are complete for the 5-11-years-old cohort in both studies with the plan to extend to ages 2-4 years.

    Each patient will be asked to participate in the ongoing long-term, open-label study, CLIMB-131. CLIMB-131 is designed to evaluate the long-term safety and efficacy of CASGEVY in patients with up to 15 years of follow up after CASGEVY infusion.

    Next steps for CASGEVY in children ages 5-11 years

    Enrollment and dosing are complete for the 5-11 years cohort in both studies. Vertex expects to initiate global regulatory filings for this age group, including a supplemental Biologics License Application (sBLA) in the U.S., in the first half of next year. Vertex recently received a Commissioner’s National Priority Voucher for CASGEVY in the 5-11 years age group from the U.S. Food and Drug Administration to accelerate the review of the sBLA once submitted. Products under the program will be subject to a 1–2-month review clock from the start of FDA’s review and will also benefit from enhanced communication opportunities with the agency.

    U.S. INDICATIONS AND IMPORTANT SAFETY INFORMATION FOR CASGEVY

    WHAT IS CASGEVY?

    CASGEVY is a one-time therapy used to treat people ages 12 years and older with:

    • sickle cell disease (SCD) who have frequent vaso-occlusive crises or VOCs
    • beta thalassemia (β-thalassemia) who need regular blood transfusions

    CASGEVY is made specifically for each patient, using the patient’s own edited blood stem cells, and increases the production of a special type of hemoglobin called hemoglobin F (fetal hemoglobin or HbF). Having more HbF increases overall hemoglobin levels and has been shown to improve the production and function of red blood cells. This can eliminate VOCs in people with sickle cell disease and eliminate the need for regular blood transfusions in people with beta thalassemia.

    IMPORTANT SAFETY INFORMATION

    What is the most important information I should know about CASGEVY?

    After treatment with CASGEVY, you will have fewer blood cells for a while until CASGEVY takes hold (engrafts) into your bone marrow. This includes low levels of platelets (cells that usually help the blood to clot) and white blood cells (cells that usually fight infections). Your doctor will monitor this and give you treatment as required. The doctor will tell you when blood cell levels return to safe levels.

    • Tell your healthcare provider right away if you experience any of the following, which could be signs of low levels of platelet cells:

      • severe headache
      • abnormal bruising
      • prolonged bleeding
      • bleeding without injury such as nosebleeds; bleeding from gums; blood in your urine, stool, or vomit; or coughing up blood
    • Tell your healthcare provider right away if you experience any of the following, which could be signs of low levels of white blood cells:

    You may experience side effects associated with other medicines administered as part of the treatment regimen for CASGEVY. Talk to your physician regarding those possible side effects. Your healthcare provider may give you other medicines to treat your side effects.

    How will I receive CASGEVY?

    Your healthcare provider will give you other medicines, including a conditioning medicine, as part of your treatment with CASGEVY. It’s important to talk to your healthcare provider about the risks and benefits of all medicines involved in your treatment.

    After receiving the conditioning medicine, it may not be possible for you to become pregnant or father a child. You should discuss options for fertility preservation with your healthcare provider before treatment.

    STEP 1: Before CASGEVY treatment, a doctor will give you mobilization medicine(s). This medicine moves blood stem cells from your bone marrow into the blood stream. The blood stem cells are then collected in a machine that separates the different blood cells (this is called apheresis). This entire process may happen more than once. Each time, it can take up to one week.

    During this step rescue cells are also collected and stored at the hospital. These are your existing blood stem cells and are kept untreated just in case there is a problem in the treatment process. If CASGEVY cannot be given after the conditioning medicine, or if the modified blood stem cells do not take hold (engraft) in the body, these rescue cells will be given back to you. If you are given rescue cells, you will not have any treatment benefit from CASGEVY.

    STEP 2: After they are collected, your blood stem cells will be sent to the manufacturing site where they are used to make CASGEVY. It may take up to 6 months from the time your cells are collected to manufacture and test CASGEVY before it is sent back to your healthcare provider.

    STEP 3: Shortly before your stem cell transplant, your healthcare provider will give you a conditioning medicine for a few days in hospital. This will prepare you for treatment by clearing cells from the bone marrow, so they can be replaced with the modified cells in CASGEVY. After you are given this medicine, your blood cell levels will fall to very low levels. You will stay in the hospital for this step and remain in the hospital until after the infusion with CASGEVY.

    STEP 4: One or more vials of CASGEVY will be given into a vein (intravenous infusion) over a short period of time.

    After the CASGEVY infusion, you will stay in hospital so that your healthcare provider can closely monitor your recovery. This can take 4-6 weeks, but times can vary. Your healthcare provider will decide when you can go home.

    What should I avoid after receiving CASGEVY?

    • Do not donate blood, organs, tissues, or cells at any time in the future

    What are the possible or reasonably likely side effects of CASGEVY?

    The most common side effects of CASGEVY include:

    • Low levels of platelet cells, which may reduce the ability of blood to clot and may cause bleeding
    • Low levels of white blood cells, which may make you more susceptible to infection

    Your healthcare provider will test your blood to check for low levels of blood cells (including platelets and white blood cells). Tell your healthcare provider right away if you get any of the following symptoms:

    • fever
    • chills
    • infections
    • severe headache
    • abnormal bruising
    • prolonged bleeding
    • bleeding without injury such as nosebleeds; bleeding from gums; blood in your urine, stool, or vomit; or coughing up blood

    These are not all the possible side effects of CASGEVY. Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088.

    General information about the safe and effective use of CASGEVY

    Talk to your healthcare provider about any health concerns.

    Please see full Prescribing Information including Patient Information for CASGEVY.

    About Vertex

    Vertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases and conditions. The company has approved therapies for cystic fibrosis, sickle cell disease, transfusion-dependent beta thalassemia and acute pain, and it continues to advance clinical and research programs in these areas. Vertex also has a robust clinical pipeline of investigational therapies across a range of modalities in other serious diseases where it has deep insight into causal human biology, including neuropathic pain, APOL1-mediated kidney disease, IgA nephropathy, primary membranous nephropathy, autosomal dominant polycystic kidney disease, type 1 diabetes and myotonic dystrophy type 1.

    Vertex was founded in 1989 and has its global headquarters in Boston, with international headquarters in London. Additionally, the company has research and development sites and commercial offices in North America, Europe, Australia, Latin America and the Middle East. Vertex is consistently recognized as one of the industry’s top places to work, including 16 consecutive years on Science magazine’s Top Employers list and one of Fortune’s 100 Best Companies to Work For. For company updates and to learn more about Vertex’s history of innovation, visit www.vrtx.com or follow us on LinkedIn, Facebook, Instagram, YouTube and X.

    Vertex Special Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements made by Carmen Bozic, M.D., and Haydar Frangoul, M.D., M.S., and statements regarding expectations for the clinical benefits of CASGEVY, plans to initiate global regulatory submissions for children 5-11, including in the U.S., in the first half of 2026, expectations that the use of a Priority Voucher will accelerate the review of the sBLA, expectations for the design of the CLIMB studies, including plans to follow patients after infusion, expectations that each patient will be asked to participate in the CLIMB-131 study and expectations that the studies will be extended to children 2-4 years of age. While Vertex believes the forward-looking statements contained in this press release are accurate, these forward-looking statements represent the company’s beliefs only as of the date of this press release and there are a number of risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Those risks and uncertainties include, among other things, that data from the company’s research and development programs may not support registration or further development of its potential medicines in a timely manner, or at all, due to safety, efficacy or other reasons, that the company may be unable to make the anticipated regulatory submissions on the expected timeline, or at all, and other risks listed under the heading “Risk Factors” in Vertex‘s most recent annual report and subsequent quarterly reports filed with the Securities and Exchange Commission at www.sec.gov and available through the company’s website at www.vrtx.com. You should not place undue reliance on these statements, or the scientific data presented. Vertex disclaims any obligation to update the information contained in this press release as new information becomes available.

    (VRTX-GEN)

    Vertex Pharmaceuticals Incorporated

    Investors:

    InvestorInfo@vrtx.com or

    +1 617-341-6108

    Media:

    mediainfo@vrtx.com or

    617-341-6992

    Source: Vertex Pharmaceuticals Incorporated


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