Enochian Biosciences Inc.changed its name toRenovaro Biosciences Inc. and reported a deal to merge part of the company with Gedi Cube Intl Ltd. in an effort to move on from recent controversies. “Renovaro, Latin for ‘renewal,’ represents our company’s mission,” said Mark Dybul, CEO of the company.
Rewalk Robotics Ltd. took strides to expand its portfolio—and achieve profitability—with an agreement to acquire Alterg Inc., a provider of anti-gravity systems for use in physical and neurological rehabilitation. Alterg uses NASA-derived differential air pressure (DAP) technology to reduce gravity’s effects on individuals with mobility challenges and pain. The $19 million deal is expected to close August 11, with additional cash earnouts tied to future revenue growth over the next two years.
The proposed $875 million acquisition of Cook Medical Inc.’s reproductive health business by the Coopercompanies Inc. has been scotched, a development lauded by the U.S. Federal Trade Commission in a statement describing the proposed transaction as anticompetitive. However, the FTC statement also pointed to cooperation from authorities in both the U.K. and Australia as critical in forcing the abandonment of the transaction, a signal that such cooperation is likely to grow in the future.
Quantum Genomics SAS recently entered exclusive talks with Vistacare Medical SAS to create a leading player in complex wound management. “Vistacare Medical’s innovative contactless treatment technology, our financial backing and stock market listing, and the complementary nature of our two teams will enable us to accelerate the development of this new medical device on an international scale,” Jean-Philippe Milon, CEO of Quantum Genomics SAS, told BioWorld.
The U.S. Federal Trade Commission and the Department of Justice have floated a new set of guidelines that would govern their reviews of mergers in a variety of markets, including the drug and device industries. While many of these guidelines are vaguely worded and open to interpretation, one of the more ambiguously worded passages states that a merger may be rejected if it could create “a clog on competition,” a phrase that appears in a Supreme Court decision handed down more than 60 years ago.
Maela SAS and Nouveal SAS reported plans to merge and become a leading player in the market for remote medical monitoring and patient pathway management.
Digital health remains a primary driver of med-tech partnerships and mergers, accounting for 67.3% of all deal activity and 49.9% of the completed M&As in 2022.
Trisalus Life Sciences Inc. agreed to merge with Medtech Acquisition Corp. (MTAC) in a deal that allows the drug/device company’s management to meet three out of three goals: quick cash, retained control and faster completion of key clinical trials.
Orthofix Medical Inc. and Seaspine Holdings Corp. signed a definitive agreement to combine in an all-stock merger of (near) equals. Following the close, Orthofix shareholders will own approximately 56.5% of the company and Seaspine shareholders will own approximately 43.5%. The new company’s name will be announced prior to the transaction’s anticipated first quarter of 2023 closing.
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