• CombiMatrix (Mukilteo, Washington) reported that it has completed its previously disclosed split off from Acacia Research (Newport Beach, California) through the redemption of all outstanding shares of Acacia Research-CombiMatrix common stock. On the redemption date, every 10 shares of Acacia Research-Combimatrix common stock outstanding were redeemed for one share of common stock of CombiMatrix. CombiMatrix split off from Acacia in order to focus on the molecular diagnostics and personalized medicine markets. The CombiMatrix group is developing a platform technology to rapidly produce tailored-content arrays, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations and proteins. The group says that its technology has a range of potential applications in the areas of genomics, proteomics, biosensors, drug discovery, drug development, diagnostics, combinatorial chemistry, material sciences and nanotechnology.
  • Iomed (Salt Lake City) and ReAble Therapeutics (formerly Encore Medical; Austin, Texas) reported that they have completed the deal in which ReAble acquired Iomed for $2.75 a share, or about $22 million. The deal was first disclosed in May. Iomed is a manufacturer of drug-delivery devices used primarily for pain management. ReAble is a private medical device company in the rehabilitation and orthopedics markets. Iomed will be a wholly-owned subsidiary of ReAble, operating under ReAble's Empi division.
  • Medtronic (Minneapolis) and Bayer Diabetes Care (Tarrytown, New York), a division of Bayer Healthcare (Leverkusen, Germany), reported an alliance to distribute and co-market a new blood glucose meter for Medtronic patients outside the U.S. beginning in Canada and Europe. Bayer Diabetes Care will acquire exclusive rights to Medtronic's wireless communications protocol in certain markets outside the U.S. The new meter, based on Bayer's Contour®meter platform, will wirelessly transmit blood glucose test results directly to MiniMed Paradigm®insulin pumps and Guardian REAL-Time continuous glucose monitoring (CGM) systems, the companies said. The new meter will initially be introduced in Canada and Germany, followed by a phase I rollout in Europe and in other countries as agreed upon by the companies. Medtronic also reported an exclusive U.S. agreement with LifeScan (Milpitas, California), a business of Johnson & Johnson (New Brunswick, New Jersey), to distribute and co-market new blood glucose meters to be developed by Life-Scan for Medtronic patients. Financial terms of the agreements were not disclosed.
  • Micrus Endovascular (ME; San Jose, California) reported that it has signed a letter of intent to acquire the rights to a revascularization technology for the treatment of ischemic stroke from ReVasc Technologies (Cleveland), a start-up company affiliated with the Cleveland Clinic Foundation. The proposed transaction will include an initial $1 million cash payment, future development milestone payments and an undisclosed royalty on potential future products sales, and is expected to close on or before Oct. 31. Micrus develops both implantable and disposable medical devices used in the treatment of cerebral vascular diseases.
  • North American Scientific (NAS; Chatsworth, California) has reported plans to divest its Nomos Radiation Oncology unit. The company said it wants to renew its focus on the marketing and development of brachytherapy products for the treatment of cancer, including Prospera brachytherapy seeds and SurTRAK needles and strands used primarily in the treatment of prostate cancer. NAS said it remains on track to commercialize its ClearPath multi-channel catheter breast brachytherapy devices in 2007. The Nomos Radiation Oncology division provides external beam radiation therapy products for serial tomotherapy intensity modulated radiation therapy and image-guided radiation therapy.
  • SurModics (Eden Prairie, Minnesota), a provider of surface modification and drug delivery technologies to healthcare, has acquired BioFX Laboratories (Owings Mills, Maryland), a provider of substrates to the in vitro diagnostics industry, for $11.3 million in cash at closing and up to another $11.4 million in cash upon the achievement of specified revenue targets. SurModics said BioFX's product line and customer base complement its own product offerings for customers developing diagnostic test kits. BioFX will operate within the In Vitro Technologies business unit of SurModics. The In Vitro Technologies business unit will remain headquartered in Minnesota.
  • Viking Systems (San Diego), a developer of laparascopic vision systems, said it will expand its presence in the field of minimally invasive surgery with the purchase of Tuebingin Scientific Medical (T bingen, Germany) for an undisclosed amount. Tuebingin markets its instruments under the brand name Radius. Viking said that completion of the transaction is subject to negotiation and execution of a definitive agreement, due diligence, normal and customary closing conditions and the arrangement of appropriate financing.
  • Vital Signs (Totowa, New Jersey) reported the acquisition of Enginivity (Lexington, Massachusetts) and its enFlow IV fluid and blood warmer technology for $5.9 million. The enFlow device is a fluid warming system that can be used to deliver flows from KVO to 200 ml/min, using advanced dry heat technology. Enginivity says that the enFlow system brings the warming element closer to the patient which reduces heat loss and that maintaining normal body temperature during surgery is a key factor in reducing post-operative infections.