A Diagnostics & Imaging Week
Applied Precision (Issaquah, Washington), a provider of imaging, measurement and analysis systems for the life sciences industries, reported that it has sold its Life Sciences business unit to a group led by senior management and Telegraph Hill Partners (San Francisco). Financial terms were not disclosed.
The resulting company, Applied Precision, will be headquartered in Issaquah.
Effective April 29, Applied Precision acquired all of the assets of the Life Sciences business unit, including the DeltaVision product line focused on microscopy-based imaging systems, and its OEM products, including the arrayWoRx scanner platform and precision control solutions.
Ron Seubert will continue as CEO and chairman, Joe Victor as president and Steve Reichenbach as CFO.
Applied Precision sold its Semiconductor division in December 2007 to Rudolph Technologies (Flanders, New Jersey).
In other dealmaking:
• DxTech (Merrimack, New Hampshire), a company that says it is focused on putting diagnostic information in the hands of physicians in real time, has entered into a long-term strategic alliance with Nicholas Piramal India (NPIL; Mumbai, India), one of the largest pharmaceutical and healthcare companies in India.
The alliance includes a license and development agreement relating to DxTech's technology, a distribution agreement and an agreement to establish a joint venture between the companies for the marketing and sales of the commercial product.
DxTech is developing the Vantix point-of-care (POC) diagnostic platform based on proprietary, electrochemical sensor technology. The companies said this combination will give the DxTech POC technology the capability to conduct simultaneous diagnostic immunoassays and general chemistries on a single cartridge delivering a broad range of tests.
DxTech assay and instrument development is being conducted at its facility in Merrimack, while manufacturing of the proprietary sensor is done at its facility in Cambridge, UK.
The alliance gives NPIL an exclusive license to DxTech's Vantix platform in India, Pakistan, Bangladesh, Sri Lanka, Nepal and Bhutan. In return, DxTech has received a multi-million-dollar up-front fee and will receive three additional product development fees, based on specific milestones over the next 18 to 36 months, each for at least $1 million.
DxTech also will receive long-term royalties based on gross sales in India, as well as its share of profits made by the joint venture. Nicholas Piramal will allocate dedicated employees to this relationship and will be investing additional funds for the joint venture's marketing and distribution costs.
• vision4health (Wilen, Germany) reported acquiring the Molis laboratory information system division from the Sysmex Group (Kobe, Japan). Terms of the transaction were not disclosed.
The company, set up in 2007 and specializing in software solutions for diagnostic applications, will take over about 150 customer installations across Europe. The acquisition will give the company an additional 80 employees in Germany, France, the Benelux countries, the UK, Switzerland and Austria.
vision4health was set up in June 2007 with the objective of developing next-generation software solutions for lab-related diagnostic applications.
• USA Uranium (USAU; Las Vegas) reported that it will acquire all rights, title and interest to a collection of software and hardware products and technologies known as the MyScreenMD.com program, for an undisclosed sum.
USAU said that the MyScreenMD program is focused upon becoming the leading provider of Internet-based home medical diagnostic and testing products using a screen-based Internet access device in partnership with the medical community.
USAU said MyScreenMD's testing system and products offer a range of alternatives to those who could not otherwise obtain crucial testing and immediate evaluation of their medical condition.