Amber Therapeutics Ltd. has acquired Bioinduction Ltd. as well as its neuromodulation therapy platform, Picostim Dyneumo. Amber is currently using the platform, an implantable system to deliver its closed-loop therapy for mixed urinary incontinence, Amber-UI, in a first-in-human study. With early indications confirming the safety and feasibility of the surgical procedure and adaptive therapy, it made sense to acquire the hardware which allows for the therapy to work, CEO Aidan Crawley, CEO and co-founder of Amber told BioWorld.
Theken Companies LLC reported the acquisition of Visionair Solutions Inc. from the Cleveland Clinic, a deal that adds pulmonary therapy to its broad portfolio with Visionair’s 3D platform for the creation of silicon stents for central airway obstructions (CAOs). Terms of the transaction, which has officially closed, were not disclosed.
Abcam plc closed out a three-month whirlwind of activity on August 28 with an agreement to sell the medical consumables company to Danaher Corp. for a purchase price of $24 per share in cash, a 2.7% premium over the previous closing price, and assumption of approximately $200 million in debt. The deal, which has an enterprise value of $5.7 billion, is expected to close in mid-2024.
Bruker Corp. signed a definitive agreement to acquire functional cell biology company Phenomex for $108 million as part of its Project Accelerate 2.0 strategy, which increases focus on the company’s emerging proteomics and spatial biology business. Bruker offered $1 per share, a 150% premium over the 40 cents per share closing price of Phenomex stock on Aug. 16. The all-cash transaction is slated to close in the fourth quarter of 2023.
Med-tech deal values the first seven months of the year are up more than 50% from last year. Meanwhile, M&As decreased almost 70% from the same time period in 2022.
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.
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