A Medical Device Daily

Rheologics Technologies (Sinking Springs, Pennsylvania) reported selling its Mountain Top Associates unit to NuOasis Laughlin, in what it called “an affiliate transaction.”

Mountain Top is a real estate development company operating in southeastern Pennsylvania. As part of the purchase of Mountain Top, NuOasis Laughlin assumed “a significant amount of debt and liabilities, delivered cash, and a 10% carried interest in its common stock,” Rheologics said. Other financial details were not disclosed.

The sale of Mountain Top is a divestiture of Rheologics' remaining real estate holdings unrelated to its biotech operations. It said the sale further enables it to concentrate on growth in the biomedical and biopharmaceutical industries.

Rheologics said it is continuing to sharpen focus “on the development and commercialization of technologies for the diagnosis and treatment of cardiovascular and vascular diseases.”

Rheologics' says it seeks to assess “the root cause” of cardiovascular disease; its flagship product is the Rheolog, a device that measures whole blood viscosity, a basic human physiologic parameter and designed for clinical research to aid in the interpretation of disease conditions.

The company said that the technology has completed beta stage “and is being readied for commercialization.”

CytoDyn (Santa Fe, New Mexico), a development stage biotech, and UTEK (Tampa, Florida), a specialty finance company focused on technology transfer, reported that CytoDyn has acquired Advanced Influenza Technologies, a wholly owned subsidiary of UTEK, in an all-stock deal. Value of the deal was not disclosed.

AIT holds the license for a DNA-based influenza vaccine candidate developed at the University of Massachusetts Medical School (Worcester, Massachusetts).

“Years of effort have been expended developing DNA-based vaccine technology at UMass Medical School,” said James McNamara, PhD, executive director of the Office of Technology Management at the UMass Medical. “We hope to see that work successfully commercialized, through this licensing agreement so that the public may benefit.”

“[W]e look forward to continuing our efforts to identify additional technology acquisition opportunities for its consideration,” said Jeffrey Bleil, PhD, chief technology officer of UTEK.

UTEK is a specialty finance company focused on technology transfer; CytoDyn develops products to treat and to prevent human diseases.