Conmed Corp. is acquiring soft tissue augmentation company Biorez Inc. for $85 million and up to an additional $165 million in growth-based earnout payments over a four-year period. The New Haven, Conn.-based company develops Biobrace, a bioinductive implant which promotes soft tissue healing in tendon and ligament injuries. The implant is cleared for use by the U.S. FDA in two product sizes.
Perkinelmer Inc. agreed to divest three businesses in a sale to private equity firm New Mountain Capital for $2.45 billion in cash to create a “pure-play, high growth, high margin life sciences and diagnostics company with unique scale,” said Perkinelmer president and CEO Prahlad Singh.
Think Surgical Inc. is deepening ties with South Korean company Curexo Inc. through a new development and distribution deal. Under the terms of the agreement, Think will have exclusive rights to distribute Curexo’s Cuvis-Joint robotic platform, including any additional technology, in the U.S. and other countries. The orthopedic robot is currently used by surgeons in Korea and India for pre-planning surgery.
Elevation Oncology Inc. has picked up the global rights to SYSA-1801, an anti-Claudin 18.2 antibody-drug conjugate (ADC) candidate, from CSPC Megalith Biopharmaceutical Co. Ltd. in a deal worth up to $1.195 billion. Under the terms, Elevation gets rights to develop and commercialize SYSA-1801 outside of mainland China, Hong Kong, Macau and Taiwan.
Sichuan Kelun-Biotech Pharmaceutical Co. Ltd. out-licensed an investigational antibody-drug conjugate (ADC) for the treatment of solid tumors to Merck & Co. Inc. in a deal worth up to $936 million. Sichuan, China-based Kelun-Biotech will receive $35 million up front in the deal and is eligible to receive up to $901 million in future development, approval and commercial milestone payments, as well as tiered royalties on net sales.
Apollo Therapeutics Group Ltd. has bought worldwide rights to Avalo Therapeutics Inc.’s anti-IL-18 antibody, camoteskimab, in a deal worth up $89 million, taking on development of the early stage drug for arthritis and potentially other diseases.
As Marengo Therapeutics Inc. gears up to start human trials with its lead compound, the company nailed down a deal with Ipsen SA worth $45 million up front and as much as $1.59 billion-plus in milestone rewards to advance a pair of candidates from the Selective T Cell Activation Repertoire (STAR) platform into the clinic.
Limacorporate S.p.A has outlicensed to Orthofix Medical Inc. new medical technology for patients suffering from chronic high dislocation of the hip. The deal, for U.S. market rights, will see the companies combine the limb-lengthening technology of Orthofix’s Fitbone intramedullary nail system with Limacorporate’s 3D-printed pelvic fixation device to form what Emmanuel Bonhomme, CEO of Limacorporate, told BioWorld is “a personalized and unique complex hip replacement solution.”
Robocath SAS said Cathbot, its joint venture set up in 2020, has enrolled the final patient for its clinical study in China to evaluate the safety and the efficacy of its robotic platform for percutaneous coronary intervention (PCI). “The completion of our PCI robotic multicenter trial in China is a crucial milestone in our development in this part of the world,” Philippe Bencteux, president and founder of Robocath, told BioWorld.
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