Boston Scientific Corp. has agreed to acquire Preventice Solutions Inc. for $925 million up front and up to an additional $300 million in a potential commercial milestone payment. The former has been an investor in Preventice since 2015 and currently holds an equity stake of about 22%, which is expected to result in a net payment of about $720 million upon closing and a milestone payment of up to roughly $230 million. The acquisition is projected to close by the middle of the year.
DUBLIN – Mina Therapeutics Ltd. is extending its small activating RNA (saRNA) technology into the central nervous system through a partnership with Les Laboratoires Servier SAS that could be worth as much as €220 million (US$266.5 million) in up-front and milestone payments.
Haemonetics Corp. said Wednesday that it will acquire Cardiva Medical Inc., a privately held manufacturer of blood closure systems, for up to $510 million. The all-cash deal expands Haemonetics’ hospital portfolio with two catheter-based devices used to shut off access sites following minimally invasive cardiology and electrophysiology (EP) procedures.
KSQ Therapeutics Inc.’s chief scientific officer, Frank Stegmeier, said that the CRISPRomics technology that drew Takeda Pharmaceutical Co. Ltd. to the table allows, “for the first time, genome-scale functional screening [in vivo as well as in vitro] across multiple disease settings. It really takes the guessing game out of your drug target selection.”
Thermo Fisher Scientific Inc. has inked a definitive agreement to acquire Mesa Biotech Inc., a privately held molecular diagnostics company with a point-of-care (POC) platform, for approximately $450 million in cash. The scientific instruments and testing giant said it will pay an additional $100 million in cash upon the completion of certain milestones. The planned acquisition will expand Thermo Fisher’s franchise of diagnostic test options with a novel platform that enables nucleic acid polymerase chain reaction (PCR) testing at the point of care.
Royal Philips NV will close on its $635 million acquisition of Capsule Technologies Inc. in the first quarter of 2021, continuing the expansion of the Dutch company's remote monitoring capabilities. Capsule's Medical Device Information Platform integrates nearly all medical devices used in hospitals with electronic health records in a vendor-neutral system. The deal has already received approval from the U.S. Federal Trade Commission and the Department of Justice.
DUBLIN – Merus NV is banking $40 million up front, plus an equity investment of $20 million, under a research collaboration and license agreement with Eli Lilly and Co.’s Loxo Oncology arm to develop up to three CD3-directed bispecific T-cell engager antibodies. Each program also has up to $540 million attached in development and commercialization milestones, taking the total potential value of the deal to $1.68 billion. Merus would also receive tiered royalties on any product sales, ranging, in percentage terms, from mid-single-digits to low-double-digits.
The volume of med-tech deals and M&As in 2020 reached impressive levels, well above 2019, primarily due to the demands of a global pandemic, although the disclosed values of those alliances fell dramatically short. Even so, the spotlight that shined on digital health and diagnostics throughout the challenging year has potentially set up the med-tech industry for an influx of attention going forward.
Diagnostics innovator Renalytix AI plc and dialysis giant Davita Inc. partnered to develop a program to identify individuals with early-stage kidney disease and improve outcomes for the 37 million Americans with chronic kidney disease (CKD). The companies plan to launch the collaborative effort in three cities in 2021 to build a diverse, real-world evidence dataset as a base for moving forward.