Creo Medical Group plc entered into an agreement to sell a 51% stake in its European consumable business to Chinese medical device distributor, Micro-Tech Co. Ltd. for approximately €36.7 million (US$41 million) in cash on a cash free, debt free basis.

As med-tech startups look to raise capital without diluting the valuation of their company, many may look to sell distribution rights in certain geographies to interested companies.

The med-tech sector maintained its momentum in the second quarter, with total financings climbing 16.5% to $7.47 billion, compared to $6.41 billion in Q1.

Strategics tend to invest in med-tech companies they are looking to acquire or could be acquired. Furthermore, companies like Medtronic plc and Royal Philips NV, which have venture arms, will continue to invest even through challenging times.

Scattered investor qualms about Nuvalent Inc.’s largely upbeat data during the European Society for Medical Oncology (ESMO) meeting in Barcelona didn’t stop the firm from pricing an upsized $500 million public offering. The Cambridge, Mass.-based firm is selling 5 million shares of class A common stock at $100 each. The offering is expected to close on Sept. 18, with underwriters holding a 30-day option to purchase up to 750,000 more shares.

This is a very exciting time for med-tech in Europe despite companies facing regulatory and funding challenges, Todd Brinton, corporate vice president, advanced technology, and chief scientific officer at Edwards Lifesciences Corp. told BioWorld.