Medical device and analytics company Trajan Group Holdings Ltd. completed an AU$29.7 million (US$20.7 million) placement to fund the acquisition of Louisville, Kentucky-based Chromatography Research Supplies Inc.
Los Angeles-based cancer diagnostics company Nonagen Bioscience Corp. obtained CE marking for its Oncuria immunoassay for bladder cancer. The multiplex urine test is designed to detect the concentration of 10 proteins that are associated with bladder cancer in urine samples. Clinical studies found the test has a 93% sensitivity and 93% specificity for detecting bladder cancer. The test is also designed to predict whether people are more likely to respond to bacillus Calmette-Guérin (BCG) therapy, a first-line treatment for bladder cancer.
In May, Sidekick Health AB revealed an expanded partnership with New York-based Pfizer Inc. for autoimmune-related conditions. Now, it has joined forces with Eli Lilly and Co. to help patients battling breast cancer with its gamified platform. The companies plan to introduce the integrated digital therapeutic starting in July with the roll out beginning in Germany.
Boston Scientific Corp. signed an agreement to purchase a majority stake (64%) of M.I. Tech Co. Ltd. for $230 million. The publicly traded Pyeongtaek South Korea-based company manufactures device solutions used in endoscopic and urologic procedures. Boston Scientific has distributed M.I. Tech’s Hanarostent non-vascular stent in Japan since 2015. The deal marks Boston Scientific’s first acquisition of the year, following a busy spending spree in 2021.
Resmed Inc. has entered into a definitive agreement to acquire Medifox Dan GmbH, a German developer of out-of-hospital software solutions for providers in major settings across the care continuum, from software and services investor Hg. The deal – valued at roughly $1 billion – is expected to close by the end of the year, which is the end of the second quarter of Resmed’s 2023 fiscal year.
Pediatric orthopedics company Orthopediatrics Corp. has signed a $33 million deal to buy competitor Pega Medical Inc. As part of the deal, Orthopediatrics will acquire Pega’s Fassier-Duval telescopic intramedullary system. The implant is designed to treat bone deformities in children with osteogenesis imperfecta. Orthopediatrics will pay a $31 million upfront cash payment plus $2 million in stock – which includes certain restrictions for three years.
Samsara Vision Inc. signed a deal with China’s Lansheng Medical Corp. (Myvision) to bring Samsara’s next-generation visual prosthetic devices to mainland China, Macau, the Hanain Province, and Hong Kong.
Numerous life sciences firms are targeting digital health and diagnostic companies for take-outs and licensing deals, placing the med-tech industry in a strong position in 2022.
Healiva SA, a Swiss wound care specialist, emerged from stealth mode having acquired two cell therapy assets from Smith & Nephew plc. Financial terms were not disclosed, but they included an up-front payment as well as “deferred benefits,” Healiva CEO and founder Priyanka Dutta-Passecker told BioWorld. The deal means that the Lugano-based company – which was formed in 2020 – could be booking revenues as early as 2023.
Advanced manufacturing company Linamar Corp. has created Linamar Medtech to leverage its skills in precision manufacturing in the medical device and components space. The new venture, which will operate as a separate division under the Linamar umbrella, builds on recent programs producing a range of products, including ventilator systems and parts, part of the COVID-19 pandemic response.
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