A Medical Device Daily
Amphion Innovations (London), a developer of life sciences and technology businesses, reported that one of its partner companies, Supertron Technologies (Newark, New Jersey), a developer of high performance clinical and preclinical imaging products for magnetic resonance imaging (MRI), has acquired Spin Systems (Brisbane, Australia), a manufacturer of MRI coils and other imaging accessories.
Following the acquisition, the enlarged company will change its name to m2m Imaging (m2m; also Newark) to encapsulate the broad spectrum of “molecule-to-man” imaging products the new combined company is developing.
Spin Systems was acquired by Supertron for 313,878 Series C preferred shares valued at $5 per share and $752,284 in cash. The total consideration of the acquisition was about $2.3 million.
Supertron CEO C. Richard Hullihen will serve as the CEO of the combined company. Amphion will be the largest strategic investor in m2m with a 23.5% percent ownership interest. The post acquisition value for m2m is $20 million based on the offering price of the Series C round, closed in July (Medical Device Daily, July 25, 2006).
m2m will combine Spin Systems’ portfolio of MRI coils and accessories with Supertron’s cryogenic coil technology. The cryogenic coil has been shown to dramatically improve the performance of the MRI scanner, producing significantly clearer images in less time, the companies said.
Aethlon Medical (San Diego), which focuses on developing therapeutic devices for infectious disease, reported that it has acquired worldwide rights to a patent submission titled, “De-repression of anticancer immunity through extracorporeal removal of microvesicular particles.” Under the patent, assigned to Aethlon Medical by London Health Science Center Research, the Aethlon Hemopurifier would address “a significant unmet clinical need in cancer therapy” by reducing the presence of tumor-secreted microvesicles that inhibit the immune system from responding in cancer patients, the company said.
Microvesicular particles are small enough to be separated from circulation by the Hemopurifier, and they have glycosylated surfaces that are the binding targets of affinity capture agents immobilized in the Hemopuriferto capture viral pathogens. As such, the Hemopurifer that has progressed through animal studies, biocompatibility testing, multiple in vitro virus studies, and demonstrated safety and virus capture in a human clinical study, may also offer an important clinical benefit to those afflicted with cancer.
At present, Aethlon has submitted a preliminary Investigational Device Exemption with the FDA related to the use of the Hemopurifier in the U.S. as a broad-spectrum countermeasure against bioweapon threats and naturally evolving pathogens, including virulent influenza. The company also plans to continue human safety and efficacy testing of the Hemopurifier in India.
Aethlon said the Hemopurifier is a broad-spectrum treatment countermeasure against drug and vaccine resistant bioweapons, naturally evolving pandemic threats such as H5N1 Avian Flu, and chronic infectious disease targets including hepatitis C virus (HCV) and the human immunodeficiency virus (HIV).
In other dealmaking news:
• Viasys Healthcare (Conshohocken, Pennsylvania) has acquired the assets of Hoffman Laboratories (Chatsworth, California) a company that develops products targeted to the sleep therapeutic market.
“With this acquisition, Viasys is increasing its presence in the global sleep therapy market. We believe sleep therapy is the fastest growing market segment in the global respiratory market,” said Randy Thurman, chairman, president/CEO of Viasys. “We expect that Hoffman Laboratories’ expertise in CPAP [Continuous Positive Airway Pressure] and noninvasive ventilation design will enhance the Viasys global product offering.
Viasys said it is already a “market leader” in the sleep diagnostics business, with brands such as Jaeger and Sensormedics.
“We believe this acquisition is a key step following the establishment earlier this year of the Viasys Sleep Diagnostics and Therapy business as a separate operating entity focused on this opportunity,” added Thurman.
Hoffman Laboratories makes CPAP devices and patient interfaces, including the4 BreatheX, the first self-contained, battery-powered, “wearable CPAP.”
• Emergency Medical Services (EMS; Greenwood Village, Colorado) reported that its emergency department management services operation (EmCare) has completed its acquisition of Clinical Staffing Solutions (CSS, Newton Square, Pennsylvania).
CSS physicians provide hospitalist and specialty unit coverage at 25 programs in 14 hospitals or outpatient facilities in Pennsylvania and New Jersey.
The company estimates that the acquisition will contribute about $16 million in annual net revenues on $23 million of annual gross revenues.
EMS is a provider of emergency medical services in the U.S.