Magentiq-Eye Ltd. received U.S. FDA 510(k) clearance for its Magentiq-Colo, an artificial intelligence (AI) gastrointestinal software system that helps detect lesions in real time during colonoscopy procedures. With the rate of colorectal cancer expected to increase steadily through the decade, the company hopes that Magentiq-Colo will offer the gastroenterology community and its patients a significant increase in the adenoma detection rate.
Baird Medical Investment Holdings Ltd.’s disposable microwave ablation (MWA) needle was approved by China’s National Medical Products Administration for treatment of benign thyroid nodules, which will help the company build a portfolio of products for thyroid diseases.
Teleflex Inc.’s agreement to acquire Palette Life Sciences AB for up to $650 million to boost its urology portfolio continues the company’s strategy of acquiring assets that are accretive to its growth rate. Palette has developed a number of urology products, key among them the Barrigel, a non-animal stabilized hyaluronic acid (NASHA) spacer that reduces radiation delivered to the rectum during prostate cancer radiation therapy. With radiation treatment trends increasing, the market for Barrigel is expected to grow.
Nuclidium AG, an early stage radiopharmaceuticals and radiodiagnostics developer, aims to bypass the production constraints that have hampered other firms in the field by employing copper radioisotopes for both therapeutic and imaging purposes.
Novigenix SA reported interim European validation data for its whole blood RNA signature for early detection of precancerous colorectal lesions. The data was presented in early July at the European Society for Medical Oncology (ESMO) World Congress on Gastrointestinal Cancer in Barcelona.
Theralase Technologies Inc. has pioneered technology said to selectively infiltrate and kill non-muscle invasive bladder cancer (NMIBC) at the cellular level. Bladder cancer generally is the 10th most common cancer in the world (6th in men and 17th in women), and gradually showing up in greater numbers in other patient groups.
Five months after raising $45 million, Lunaphore Technologies SA reported its consent to be acquired by Bio-Techne Corp., a reagents and instruments manufacturer for the diagnostic market. This acquisition by the Nasdaq-listed bio-tech giant, “will enable us to begin a worldwide commercial rollout of our products and automated spatial biology technology,” Ata Tuna Ciftlik, co-founder and CEO of Lunaphore Technologies, told BioWorld. The amount of the transaction was not disclosed. This acquisition is expected to close in the third quarter of 2023.
Isotope Technologies Munich SE (ITM) raised $280 million to support the expansion of its broad targeted radionuclide therapies oncology pipeline. This equity investment round was led by Temasek holdings Pte Ltd. with participation from Blackrock Alternatives, Qatar Investment Authority, Nextech Invest Ltd., Athos KG and Carbyne Equity Partners GmbH.
Precision diagnostics company Inoviq Ltd.’s stock soared 44% on the news that its breast cancer diagnostic, SubB2M/CA15-3, detected all stages of breast cancer with 87% accuracy, 81% sensitivity and 93% specificity. The clinical validation study that included 483 samples outperformed the standard of care CAS15-3 test, demonstrating an area under the curve (AUC) of .93 compared to .70.
The U.K. government created a new £21 million ($US26.55 million) fund to accelerate the roll out of artificial intelligence (AI) diagnostics and treatment tools across the NHS. The AI Diagnostic Fund will enable hospitals to bid for funding to speed up the deployment of the most promising AI imaging and decision support tools to help patients with cancers, strokes and heart conditions.
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