Boston Scientific Corp. offered $523 million in cash for 65% of Acotec Scientific Holdings Ltd., a manufacturer of vascular intervention devices. The acquisition would significantly expand Boston Scientific’s presence in China, which the company expects to account for about 25% of the global med-tech market by the end of the decade. The transaction is expected to close in the first half of 2023, subject to shareholder approval. The offer price of HK$20 or US$2.57 per share represents a premium of more than 31% over its close on Friday, Acotec reported.
Shanghai Microport Endovascular Medtech Co. Ltd.’s Hercules balloon dilation catheter has been approved for marketing approval in China to be used in endovascular aneurysm repair (EVAR) procedures.
Ironically, one of the casualties of the COVID-19 pandemic is an overdue review and revision of U.S. dual use research of concern (DURC) policies, as well as the Department of Health and Human Services’ Potential Pandemic Pathogen Care and Oversight guidance. Consequently, several senators are asking the White House to halt all ongoing and new viral gain-of-function and DURC studies in the life sciences that involve enhanced pathogens of pandemic potential.
Lepu Medical Technology (Beijing) Co. Ltd. has been given the green light from China’s NMPA for its disposable micro-guidewire. Beijing, China-based Lepu Medical confirmed to BioWorld that this micro-guidewire was approved for fractional flow reserve (FFR) measurements in adult patients with coronary artery lesions during coronary angiography and interventional procedures.
Both the Hong Kong Stock Market and the Shanghai STAR Market have seen med-tech companies, namely Orbusneich Medical Group Holdings Ltd. and Shanghai Genext Medical Technology Co. Ltd., making a rush to be listed by the end of 2022.
Microport Neurotech Ltd.’s intracranial visualized stent Rebridge has been included in the green channel, a priority review for medical devices, by China’s NMPA.
Jiangsu Bioda Life Science Co. Ltd.’s artificial blood vessel has gained class III medical devices approval from China’s NMPA, marking the first domestic artificial blood vessel to get such approval. Nantong, China-based Bioda’s vessel is used for aortic coarctation and aneurysms.
As China seeks to be more independent in medical device development, authorities have released several guidelines to enhance the quality of its medical devices, as well as accelerate their registration.
Subtle Medical Inc. closed a series B financing to develop its artificial intelligence (AI) imaging enhancement solutions. Eastern Bell Venture Capital Management Co. Ltd. and Primavera Venture Partners lead this round of financing.
Fresh off announcing a new $1.2 billion joint drug discovery and development project with Sanofi SA, Insilico Medicine Inc. founder and CEO Alex Zhavoronkov joined a chorus of executives at the Asia Summit on Global Health in proclaiming the critical importance of partnership between biopharma, tech companies, and regulators, even amid rising tensions between China and the West.
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