Sunnyvale, Calif.-based Cepheid Inc. reported that it is developing an automated molecular test for the qualitative detection of 2019-nCoV coronavirus. The test will be designed for use on any of its 23,000 Genexpert systems placed worldwide and is expected to deliver point-of-care results in about 30 minutes.
Co-Diagnostics Inc., of Salt Lake City, reported sales of its screening test designed to identify the presence of the 2019-nCoV coronavirus. The order calls for delivery of tests to be distributed to various international markets and included payment for the initial shipment of assays. Co-Diagnostics Logix Smart 2019-nCoV polymerase chain reaction (PCR) tests use highly specific targeting and the Company’s Coprimer technology platform to detect the strain of coronavirus first discovered in the Chinese city of Wuhan. The test is compatible with various manufacturers’ PCR devices that are commonly used, and is immediately available on a Research Use Only (RUO) basis to thousands of laboratories throughout the world.
Woodland Hills, Calif.-based Endonovo Therapeutics Inc. reported their Sofpulse device is being evaluated at major universities for orthopedic surgeries. Sofpulse is Endonovo’s FDA-Cleared, noninvasive device utilized for the reduction of postoperative pain and edema.
Medtronic plc, of Dublin, and the Medtronic Foundation are committing approximately $1.2 million to coronavirus relief efforts across the globe.
Mobidiag Ltd., of Espoo, Finland, has initiated development of a Novodiag molecular diagnostic test for the rapid and simultaneous detection of the novel coronavirus (strain 2019-nCoV) and influenza viruses. The assay is being developed in partnership with Zhengzhou, China-based Autobio Diagnostics and Automobi Molecular Diagnostics, the joint venture launched by Mobidiag and Autobio in May 2019.
Oncosec Medical Inc., of Pennington, N.J., and San Diego, reported that, following shareholder approval, the proposed strategic investment by and partnership with Grand Decade Developments Ltd., a wholly owned subsidiary of Hong Kong-based China Grand Pharmaceutical and Healthcare Holdings Ltd. (CGP), and its U.S. affiliate, Sirtex Medical US Holdings Inc., of Woburn, Mass., has closed. Sirtex acquired about 8.8% of the outstanding shares of common stock of Oncosec and will support and assist Oncosec with pre-marketing activities for its Tavo and Visceral Lesion Applicator products in exchange for low single-digit royalties. In addition, CGP acquired approximately 44% of the outstanding shares of common stock of Oncosec and entered an exclusive license to Oncosec's products in Greater China and other Asian countries in exchange for a royalty.
Precisionmed Inc., of Solana Beach, Calif., reported the enrollment of the first donor into the Precisionmed Traumatic Brain Injury Registry (TBI). The registry is expected to be of value for the discovery and/or validation of biomarkers for neurological disease. The Precisionmed TBI Registry will enroll up to 2,000 well-characterized participant donors who will be recruited, evaluated, clinically studied and sampled from up to 10 experienced investigative sites in the U.S. Key aspects of donors’ clinical status will be evaluated every four months with simultaneous biological sampling.
Probo Medical, a Fishers, Ind.-based provider of medical imaging equipment, parts, repair and service, reported the acquisitions of Largo, Fla.-based Elite Medical Technologies LLC and Future Medical Equipment Ltd., of Bristol, U.K. Terms of the transactions were not disclosed.
Carlsbad, Calif.-based Seaspine Holdings Corp., a global medical technology company focused on surgical solutions for the treatment of spinal disorders, and 7D Surgical Inc., a Toronto-based company developing advanced image guidance technologies and machine-vision-based registration algorithms to improve surgical workflow and patient care, entered a strategic alliance agreement. Financial terms were not disclosed. Under the agreement, the duo will integrate and co-market their combined product offerings, as well as develop Seaspine-specific instrumentation optimized to work with 7D Surgical’s Machine-vision Image Guided Surgery platform for spinal and cranial surgeries.
Sona Nanotech Inc., of Halifax, Nova Scotia, is deploying its proprietary nanotechnology in the development of a rapid screening test for the current coronavirus. Sona is developing a quick-response lateral flow test to screen patients for the nCoV19 virus. When completed, the test is expected to produce results in five to 15 minutes and is anticipated to cost less than $50.
Zealand Pharma A/S, of Søborg, Denmark, reported a bid to acquire substantially all assets from Valeritas Holdings Inc. for a total cash consideration of $23 million and the assumption of certain liabilities related to the ongoing business, pursuant to the terms of the stalking horse asset purchase agreement entered with Valeritas. Bridgewater, N.J.-based Valeritas and its subsidiaries filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware Feb. 9. At that time, Zealand entered a definitive agreement to acquire substantially all assets from Valeritas. Under the terms of the agreement, Zealand serves as the stalking horse bidder in a sale process. If Zealand’s bid is selected, the sale will be subject to approval by the bankruptcy court and certain other closing conditions. There can be no certainty that the transaction will be concluded.