Plymouth Meeting, Pa.-based Accolade Inc. has signed a definitive agreement to acquire Innovation Specialists LLC, a medical opinion and decision support company based in Houston. The transaction is expected to wrap up by the end of February, subject to customary closing conditions. Under the terms of the agreement, the purchase price of up to $460 million will consist of $230 million in cash, $130 million in Accolade common stock, and up to $100 million of Accolade common stock payable upon the achievement of defined revenue milestones following the closing.
Beyond Medical Technologies, of Vancouver, British Columbia, has entered a letter of intent with Toronto-based Kayan Health Ltd. that sets out the basic terms and conditions for the acquisition of all the issued and outstanding securities of Kayan Health in exchange for securities of the company. Following the completion of the transaction, Kayan Health will become a wholly owned subsidiary. Pursuant to the terms of the letter of intent, Beyond Medical will acquire 100% of the issued and outstanding common shares of Kayan Health in exchange for common shares. The company will issue to Kayan Health shareholders the aggregate sum of up to $6 million payable in common shares as follows: $4 million upon closing and $2 million upon Kayan Health achieving a mutually agreed upon milestone. Prior to or concurrently with the closing of the transaction, the company will complete a nonbrokered private placement of units at $0.15 per unit for minimum gross proceeds of $3 million and maximum gross proceeds of $5 million.
Researchers at Duarte, Calif.-based City of Hope have developed a tool that could predict if older adults with early-stage breast cancer will develop a severe or deadly reaction to chemotherapy. The risk assessment tool, known as the Cancer and Aging Research Group-Breast Cancer Score, helps oncologists make personalized treatment recommendations. Oncologists can discuss the score and its significance with early-stage breast cancer patients age 65 or older.
Irvine, Calif.-based Clearpoint Neuro Inc. reported the first use in Europe of its version 2.0 software, together with the Clearpoint Neuro Navigation system, at Rigshospitalet in Copenhagen, Denmark. The procedure also represents the first European site to use the Clearpoint system under live MRI guidance for navigation of a laser catheter in the brain.
Luxembourg-based Eurofins Scientific reported the launch of its Novatype SARS-CoV-2 RT-PCR assay, clinically validated for the identification of B.1.1.7 and B.1.351 variants of the COVID-19 virus. Novatype is available as a laboratory-developed test in Germany and will be available to more than 50 Eurofins laboratories worldwide shortly. The company also is increasing, to more than 5,000 full genomes per day, the capacity of its Artic next-generation sequencing.
Fuse Medical Inc., of Richardson, Texas, said it has entered a marketing agreement with Carepics LLC, a telehealth care platform company headquartered in Raleigh, N.C., the latest resource addition for Fuse’s wound care products.
Gamma Biosciences, of Menlo Park, Calif., has agreed to acquire State College, Pa.-based Biomagnetic Solutions LLC, a next-generation cell selection and bioseparation technology company, for an undisclosed sum.
Sarasota, Fla.-based Invo Bioscience Inc. has entered an exclusive agreement with Galaxy Pharma Ltd., of Karachi, Pakistan, to distribute its in vivo intravaginal culture system for infertility, Invocell, in that country.
South San Francisco-based Mammoth Biosciences Inc. said it has secured a subcontract with Mriglobal, of Kansas City, Mo., the prime contractor with the Defense Advanced Research Projects Agency, to develop CRISPR-based diagnostics and biosurveillance technologies for the U.S. Department of Defense. The contract goals are to develop two products: a hand-held, disposable, point-of-need (PON) device that can detect 10 pathogens at once, and a lab-based, massively multiplexed detection (MMD) platform capable of screening clinical and environmental samples for more than 1,000 targets simultaneously. Mammoth will be the primary subcontractor for the PON device and will contribute to the MMD platform.
Orthopediatrics Corp., of Warsaw, Ind., said it has expanded its agent network in Germany, Austria and Switzerland.
Target Rwe, a real-world evidence solutions company for the pharmaceutical and biotech industries headquartered in Durham, N.C., has acquired Durham-based Novisci Inc., a software analytics and services company focused on improving population health outcomes. Financial terms of the deal were not disclosed.
Thermo Fisher Scientific Inc., of Waltham, Mass., said it has completed the acquisition of Henogen SA, Pompey, France-based Novasep SAS’ viral vector manufacturing business in Belgium, for about €725 million (US$880 million).