Austin, Texas-based Aspira Women’s Health Inc. has entered a collaborative research agreement with Houston-based Baylor Genetics to co-develop a novel ovarian cancer early-detection test.
Guilford, Conn.-based Butterfly Network Inc. a digital health company that is working to enable universal access to medical imaging, and New York-based Longview Acquisition Corp., a special purpose acquisition company sponsored by Glenview Capital Management LLC have entered a definitive business combination agreement. Upon closing, the combined company's class A common stock is expected to be traded on the New York Stock Exchange under the symbol BFLY, and business combination is expected to be completed by the end of the first quarter of 2021. The pro forma enterprise value of the merger is $1.5 billion, with the combined company expected to have an estimated $584 million in cash after closing. Butterfly founder Jonathan Rothberg will become chairman of the combined company and will be Butterfly's largest controlling shareholder. According to the company, 100% of the equity of existing Butterfly Network investors, including Baillie Gifford, The Bill and Melinda Gates Foundation and Fosun Industrial Co. Ltd., will convert into shares of the combined company. There will be no selling stockholders in the transaction.
Vancouver, British Columbia-based Crh Medical Corp. received approval from the Toronto Stock Exchange of its notice of intention to renew its existing normal course issuer bid. Pursuant to the bid, the company may purchase for cancellation up to 6,999,137 of its common shares, or approximately 9.8% of the common shares outstanding as of the date of this announcement (representing 10% of the public float). As of Nov. 12, 2020, there were 71,413,084 common shares of the company issued and outstanding, and the public float consisted of 69,991,371 common shares. The bid is being adopted in addition to, and not as a substitute for, other investments in growth opportunities historically undertaken and contemplated by the company. The bid will be funded through the company's internally generated cash flow from operations. Crh Medical is focused on providing gastroenterologists throughout the U.S. with services and products for the treatment of gastrointestinal diseases.
La Jolla, Calif.-based Dermtech Inc., a developer of precision dermatology enabled by a noninvasive skin genomics platform, entered an agreement, effective Nov. 3, with Blue Cross Blue Shield of Illinois for its commercial PPO and Medicare Advantage membership. Dermtech’s PLA is the first noninvasive gene expression test for the early detection of melanoma. The PLA has a 99% negative predictive value.
Chicago-based GE Healthcare reported the acquisition of Prismatic Sensors AB, a Swedish startup specializing in photon counting detectors. This technology has the potential to establish a new standard of care in oncology, cardiology, neurology, and many other clinical CT applications, GE said. Prismatic was founded in 2012 as a spin-off from KTH Royal Institute of Technology in Stockholm, Sweden. GE Healthcare expects to close the Prismatic Sensors acquisition by January 2021, after holding a minority position in the company since 2017. GE Healthcare and Prismatic Sensors will work together to deliver a clinical system in the near future. Terms of the transaction are not disclosed.
Philadelphia-based Healthverity reported a strategic collaboration with New York-based Medidata Inc., a Dassault Systèmes company. With heightened necessity stemming from COVID-19, Medidata and Healthverity have brought together their platforms, expertise and access to data to shape the effectiveness, design and impact of more real-time research. This expanded partnership builds on the application of Healthverity Census applied across the Medidata Rave Clinical Cloud. Researchers are now able to integrate patient-consented trial or registry data with traditional and novel real-world data such as claims, EMR, labs, chargemaster, consumer, wearable sensors, digital interventions, and social determinants of health for studies at large.
Ganymed Robotics, a Paris-based developer of advanced robotics technologies for orthopedic surgeons, reported the successful completion of functional prototype tests of its surgical robotic assistant for total knee arthroplasty.
Interpace Biosciences Inc., of Parsippany, N.J., received notice from the listing qualifications staff of the Nasdaq Stock Market LLC indicating that, due to the delay in the filing of its form 10-Q for the quarterly period ended Sept. 30, the company does not currently satisfy Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of all periodic reports with the SEC. The deficiency has no immediate effect on the listing or trading of the company’s common stock on Nasdaq.
Sunnyvale, Calif.-based Intraop Medical Corp. and the University of Verona in Italy revealed the enrollment of the first patient in the PancFORT trial. The study will assess the clinical benefits of electron-beam intraoperative radiation therapy in the treatment of borderline resectable pancreatic cancer.
Invitae Corp., a San Francisco-based genetics company, presented study findings at the National Society of Genetic Counselors annual conference that show 9% of patients with pancreatic cancer had genetic changes in DNA damage repair genes that would make them eligible for PARP inhibitor therapy or clinical treatment trials. In addition, the study of more than 2,000 patients found that 15% of patients with actionable genetic changes reported no family history of cancer, which underscores the limitations of using testing criteria based on reported family history. The study also evaluated the role of cost as a barrier to testing, and researchers reported a 2% increase in testing among African-American patients when testing was provided at no cost.
A study published in the American Journal of Emergency Medicine this month reported on an assessment tool developed by Kaiser Permanente researchers and physicians that helps ensure patients get the right care, when they need it, by accurately predicting the probability that patients with COVID-19 symptoms will experience severe disease or even death. The assessment tool, called the COVAS score because it looks at comorbidities, obesity, vital signs, age, and sex, has already been incorporated into the electronic health record system throughout Kaiser Permanente in Southern California, where it guides clinical decisions in emergency departments and urgent care centers.
Scottsdale, Ariz.-based Neurodigitx Inc. reported a new comprehensive platform called Plastic Health that allows a bloodless assessment of inflammation levels, first targeting the current pandemic, to supplement and enhance vaccine immunization strategies.
Raritan, N.J.-based Ortho Clinical Diagnostics said that its CE-marked Vitros SARS-CoV-2 antigen test can now detect SARS-CoV-2 infection in asymptomatic individuals.
Pathofinder BV, of Maastricht, Netherlands, said it has launched a second kit for COVID-19 detection.
San Diego-based Progenity Inc. reported clinical verification data for its Preecludia preeclampsia rule-out laboratory-developed test currently in development. Progenity believes the Preecludia test has the potential to become the first tool of its kind in the U.S. to help triage possible preeclampsia.
Proscia Inc., a Philadelphia-based provider of digital and computational pathology solutions, said that NASA’s Jet Propulsion Laboratory and the National Cancer Institute Consortium for Molecular Characterization of Screen-Detected Lesions, coordinated by Baylor College of Medicine, have deployed Proscia’s Concentriq platform to advance biomedical research on improving cancer treatment.
Albany Med selected Spacelabs Healthcare, of Snoqualmie, Wash., to upgrade its physiologic monitoring and telemetry systems. Additionally, the health system also chose to include Spacelabs’ tools to further complement their drive towards data management and reporting to improve patient experience and outcomes.
Vivos Inc., of Richland, Wash., said it has completed its submission to the U.S. FDA seeking breakthrough device designation for Radiogel, an Yttrium-90 based injectable brachytherapy device.