Washington-based life sciences conglomerate Danaher Corp. has executed a long-anticipated spinout for its dental products business Envista Holdings Corp. via a $589 million IPO. Based in Brea, Calif., the company priced a bit below the middle of the anticipated share price range at $22 and sold 26.8 million shares, as it had planned.
LONDON – Kaia Health Software GmbH closed an $8 million funding round that it will use to accelerate U.S. commercialization of its digital health apps for managing musculoskeletal disorders and chronic obstructive pulmonary disease (COPD).
Bayer AG led a $40 million series B financing for Informed Data Systems Inc. (IDS) and its One Drop diabetes management platform. The pharma giant also inked a licensing agreement to leverage IDS, which does business as One Drop, in therapeutic areas beyond diabetes and secured a seat on One Drop's board of directors.
HONG KONG & BEIJING – Chinese biosimilar make Shanghai Henlius Biotech Inc. is ready to list on the Hong Kong Stock Exchange (HKEX) on its second try. The firm plans to issue 64.7 million shares globally under the stock code 2696. The maximum offer price is HK$57.8 per share, which means the biosimilar maker could raise as much as HK$3.74 billion (US$477 million).
BEIJING – Biologics developer Hisun Bioray Bio-pharmaceutical Co. Ltd., a subsidiary of Chinese state-owned drugmaker Zhejiang Hisun Pharmaceutical Co. Ltd., received ¥3.8 billion (US$540 million) from Hong Kong investor PAG for a 58% stake in the company.
LONDON – Cmr Surgical Ltd. has again broken the record for a private financing round for a European med-tech company, raising £195 million (US$240 million) in a series C that will fund global commercialization of its portable robotic surgery system, Versius. Since the record-breaking series B in May 2018, when it raised $100 million, Cmr has set up offices in four continents and completed 30 first-in-human procedures. Currently, there are no commercial users, but the company now employs more than 400 people.