Business in brief, Sept. 25, 2018

September 25, 2018

Santa Fe’s GDP up in 2017

The total value of goods and services produced in Santa Fe increased by 1.7 percent in 2017 over the previous year, according to the federal Bureau of Economic Analysis.

The city ranked 191st out of 312 metropolitan areas by the increase in area gross domestic product, according to the bureau report released Sept. 18. GDP in Santa Fe last year amounted to $7.26 billion.

The largest gains in local business came in the information sector, which increased the value of its output by 1.17 percent over the previous year; the category that includes finance, insurance and real estate, including rentals, increased the value of its services by 1.07 percent.

In two other categories, total values increased by less than 1 percent. Professional and business services were up 0.45 percent; the category that includes arts, entertainment, recreation, recreation, accommodation and food services increased its value by 0.12 percent over the previous year, according to the bureau.

Output in nine other categories, from natural resources and mining, to educational services and health care, to government, manufacturing and construction, all declined by less than 1 percent.

Santa Fe GDP, measured in current dollars, in 2017 was the highest it has been the past five years. The previous high, $6.98 billion, was measured in 2016, according to the bureau.

The Santa Fe metro area ranked 249th out of 312 in the total value of its GDP last year.

Avisa BreathTest in UNM, Detroit trial

Avisa Pharma Inc. of Santa Fe is going for a second round of investments to fund continuing development of its BreathTest device that detects a wide range of respiratory infections.

The device is being tested in emergency departments at the University of New Mexico medical centers in Albuquerque and Rio Rancho and the Henry Ford Hospital in Detroit, said Avisa CEO David Joseph.

Results of the study are due in December, according to an Avisa news release. The next phase is a larger trial involving 10 to 15 sites and, if successful, approval for commercial use by the U.S. Food and Drug Administration, Joseph said. If all goes as planned, the device could be approved for use by 2022, he said.

Meanwhile, Avisa Pharma is looking to raise $15 million to keep BreathTest on track to FDA approval, Joseph said.

The UNM and Detroit trials are testing the device’s ability to detect pneumonia pathogens in patients being treated in emergency departments. Pneumonia is the leading cause of infectious disease-related hospitalization in the United States.

Pneumonia is treated using broad spectrum antibiotics, Joseph said. However, overuse of those antibiotics results in pathogens becoming more resistant. The BreathTest device is a more accurate test and allows clinicians to use those antibiotics more sparingly, he said.

The New Mexican

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