Around the world, Australia and in Europe they’re building precincts like this so it’s great to have New Zealand right up there with the professionalism that a brand new precinct brings.” “We think this is a huge opportunity for Tauranga and for New Zealand,” Peter says, “because this will be one of the most organised marine precincts in the country. It’s a great example of collaboration, and then bringing in private business to invest in the tooling and skill base. “Congratulations to everyone involved, and particularly the Tauranga City Council and the Bay of Plenty Regional Council. The initial $11.4m cost of the development, jointly funded by the Tauranga City Council and Bay of Plenty Regional Council, will be partially recouped from the sale of properties around the site - a funding arrangement which received praise from the New Zealand Marine Industry Association’s Executive Director Peter Busfield. The central feature of the development is a 350 tonne travel lift – easily the largest and most sophisticated in the country – along with hardstand space to cope with at least seven vessels over 30m in length, an ecologically responsible drainage system which collects and processes all water discharges and recycles water used in the wash down area, and all key boat service and maintenance operators conveniently on-site. The facility – branded Vessel Works - was unveiled last night to an audience of major local and national industry players, representatives of local and central government, and businesses involved in the venture. The story looked even better with patients experiencing a 50% improvement in EASI score - 42.9% of patients treated with RPT193 achieved this marked improvement compared to only 10% of patients in the placebo group.Business, employment and tourism benefits are all expected to flow through the Bay of Plenty region as a result of the advent of Tauranga’s new marine precinct at Sulphur Point. That was more than twice the 17% improvement seen in patients on a placebo. Patients treated with the company's experimental drug achieved a 36.3% improvement in the Eczema Area and Severity Index (EASI) score from baseline. You'd expect that RAPT's results from the early-stage study of RPT193 had to be fantastic for the biotech stock to more than double.

The huge gain came after the company announced positive top-line results from a phase 1b clinical study evaluating RPT193 in treating moderate-to-severe atopic dermatitis. RAPT Therapeutics ( NASDAQ:RAPT) stock was crushing it on Monday, with shares skyrocketing 110.4% as of 11:59 a.m. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics.

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