Baxter International Inc. agreed to divest its Biopharma Solutions (BPS) business to private equity firms Advent International and Warburg Pincus for $4.25 billion. Baxter expects to net approximately $3.4 billion from the transaction, which it will use to pay down debt. The deal is anticipated to close in the second half of 2023.
Regulatory snapshots, including global submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Eyenovia, Happe Spine, Neuronetics.
Med-tech happenings, including deals and partnerships, grants, preclinical data and other news in brief: ASP Isotopes, Baxter, CC Nuclear, Creative Foam, Glaukos, Orbusneich, Probo, RC14, Scopio Labs, Siemens Healthineers.
Citing significant concerns of bacterial contamination, the FDA urged consumers and health care providers to stop using specific lots of SD Biosensor Inc.’s Pilot COVID-19 At-Home Tests, which were distributed by Roche Diagnostics Systems Inc. The agency warned that direct contact with the contaminated liquid solution could pose safety issues as well as impair the test’s performance.
Anhui Happiness Workshop Medical Equipment Co. Ltd.'s single use ureteroscope was approved by China’s NMPA, becoming the first domestically developed electronic soft ureteroscope to monitor intrarenal pressure during procedures.
Magenta Medical Ltd. has raised $55 million to fast-track the development of the world’s smallest left ventricular assist device (LVAD). The financing round was led by Orbimed Private Investment LLC. With the participation of existing investors, New Enterprise Associates, Pitango VC Ltd. and Alive MS Ltd. “We will use this funding, in particular, to advance the clinical programs in the U.S. towards our first FDA approval,” David Israeli, CEO of Magenta Medical, told BioWorld.
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