TORONTO – Canadian Prime Minister Justin Trudeau has yet to rule out following U.S. President Donald Trump’s lead by invoking his nation's wartime Defense Procurement Act compelling manufacturers to begin making ventilators to combat COVID-19. For now, Ottawa has signed contracts or letters of intent with eight equipment makers.
As health care workers face critical shortages of personal protective equipment (PPE) to deal with the COVID-19 crisis, 3D printing companies, medical device manufacturers and other organizations are stepping up to produce face shields, ventilators and other needed supplies. For its part, Rehovot, Israel-based Stratasys Ltd. has assembled a coalition of more than 150 companies and universities to produce 3D-printed visors and clear plastic face shields. The coalition aims to produce up to 16,000 face shields per week by the end of next week.
The U.S. Federal Communications Commission (FCC) has received funds for another telehealth program in less than a year. An agency statement indicates that the program “would immediately support health care providers” working to thwart the COVID-19 outbreak. This would be achieved in part by supporting purchases of devices and other items needed to provide telehealth, which the Connected Health Initiative said will help drive an overdue overhaul of health care in the U.S.
A flurry of deal and M&A activity in the med-tech industry during the first quarter of 2020 has not translated into high financials, as many of the transactions are not disclosing terms. While the COVID-19 pandemic rages on, business development activities appear to be slumping in recent weeks, leaving the early part of the year significantly down from prior quarters.
COVID-19 has disrupted science in the way it has disrupted everything else. In the short term, universities have largely closed shop as a way to maximize social distancing, and lots of science – or at least, lots of bench work – is not getting done.
Regulatory snapshots, including global submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Becton Dickinson, Beroni Group, Biogx, Clinical Laserthermia Systems, Leica Biosystems.
Having chalked up three marketed drugs after only nine years in existence, Venbio Partners LLC proved its appeal yet again by closing on about $394 million in a capital raise that included new and existing investors, with a broad range of institutional concerns in the mix.