The U.S. Federal Trade Commission (FTC) issued a final order in connection with the proposed reacquisition of Grail Inc. by Illumina Inc., in an action that might seem to finally conclude a matter that has stretched over several years. However, the FTC acknowledged that Illumina has 60 days to petition the order, which Illumina said it intends to do in conjunction with an effort to overturn a similarly adverse outcome in the EU.
Scivita Medical Technology Co. Ltd. formed a long-term partnership with Boston Scientific Corp. to commercialize Scivita Medical's single-use percutaneous choledochoscope in China. This collaboration will increase the market penetration rate of the product.
Bellaseno GmbH and Evonik Industries AG joined forces to commercialize 3D-printed scaffolds used in bone regeneration. The scaffolds are made with Evonik’s Resomer polymers to address large and complex bone defects as an alternative to frequently less stable conventional methods.
Detection Technology plc has agreed to acquire X-ray flat panel detector provider Shanghai Haobo Imaging Technology Co. Ltd. to expand in the thin-film transistor (TFT) flat panel detector market. Shanghai-based Haobo Imaging was valued at around €14 million (US$15 million). Finland-based Detection Technology will acquire a 90% stake in the Chinese company while Haobo Imaging’s founder and management will maintain 10% of the shares.
In an age of overwhelming volumes of data that don’t fall together effortlessly into a lucid representation of reality, computational power is often the vital ingredient in leveraging existing data to push the frontiers of medicine. The Cleveland Clinic and IBM unveiled a quantum computing center that provides the sheer computational power needed to sort through the avalanche of data at a pace that will provide real insights into drug development and disease prediction, a development that portends truly revolutionary advances in disease prevention and treatment.
March 17 brought neither good luck nor good news to Pear Therapeutics Inc. Just prior to the opening bell, the prescription digital therapeutics company reported that it had engaged MTSA Health Partners LP to explore strategic alternatives for the company. In addition, Pear filed an 8-K with the SEC withdrawing its revenue and operating guidance for fiscal 2022 and 2023 and indicating that it does not plan to hold a fourth quarter and full year 2022 earnings conference call and webcast.
From Carl Icahn’s point of view, Illumina Inc.’s desired reintegration of its former spinoff is more a poisoned chalice than a holy Grail. In his opening salvo to a proxy fight, Icahn published an open letter March 13 to other Illumina shareholders referencing the “extreme displeasure” of investors with Illumina’s “reckless” determination to acquire Grail Inc., despite European regulators’ strong opposition to the deal.
The U.S. Federal Trade Commission (FTC) released its annual premerger notification report, this one for fiscal year 2021, during which more than 3,400 transactions were reported under the Hart-Scott-Rodino Act (HRS Act). Roughly 17% of these were valued at more than $1 billion, but the FTC is facing bad publicity with the resignation of the sole Republican member of the commission, Christine Wilson, who charged FTC chairwoman Lina Khan with abuse of power.
Insulet Corp. went on a buying spree this week with the acquisition of the assets of Automated Glucose Control LLC (AGC) and Bigfoot Biomedical Inc.'s automated insulin delivery (AID) patents. The Bigfoot and AGC deals each rang in at $25 million.
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