Another company has entered the fray in the eternal battle between humans and bacteria. Day Zero Diagnostics Inc. aims to produce whole genome sequencing-based diagnostic technologies that quickly identify the species and antibiotic resistance profile of bacterial pathogens from a blood sample. In a vote of confidence that the company is on the right track, the global non-profit Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) awarded Day Zero another $8.2 million. The latest funding pushes Day Zero’s awards from CARB-X over $16 million.
Aural Analytics Inc. and Hhitt Inc., dba Hitcheck, teamed up to offer a cognitive assessment application that could quickly answer the question, “Should he play?” after a hit to the head during a game. Considering the controversy over Miami Dolphins quarterback Tua Tagovailoa’s loss of consciousness following his second head injury in two games last month, the cognitive assessment tool, which includes clinical-grade speech analytics, comes none too soon.
Sinaptica Therapeutics Inc. received a U.S. FDA breakthrough device designation for its electromagnetic therapy for Alzheimer’s disease. Sinaptistim-AD combines neurostimulation, brain wave monitoring and artificial intelligence (AI) to address the cognitive and functional decline in patients with the neurological disorder.
Surge Therapeutics Inc. landed $26 million in funding through a series A fundraising round to accelerate development of its intraoperative immunotherapy hydrogel.
Cordis Corp. entered an agreement to acquire M.A. Med Alliance SA (Medalliance) in a transaction valued at up to $1.135 billion. Cordis will invest $35 million initially and provide an upfront payment of $200 million at closing in 2023. Meeting regulatory milestones will kick in $125 million and commercial milestones through 2029 are tied to an additional $775 million.
Surge Therapeutics Inc. landed $26 million in funding through a series A fundraising round to accelerate development of its intraoperative immunotherapy hydrogel. The biodegradable injectable is designed to enable delivery of immunotherapy directly into the site of tumor resection and overcome the immunosuppressive effects associated with surgery.
The annual North American Spine Society (NASS) Conference wraps up in Chicago on Oct. 15 and management discussions and analysts make it clear that the sector is not yet back to normal. While September showed an uptick in procedures, spinal surgery continues to lag the recovery seen elsewhere in orthopedics. As the challenges of the past two years recede, two players have posted notable gains in market share and revenue—Globus Medical Inc. and Alphatec Holdings Inc.—perhaps indicating a competitive advantage for smaller, more agile companies.
Genetic testing has the potential to identify infants and children with autism potentially years earlier than clinical assessments, improving response to therapies and long-term outcomes. Sema4 Holdings Corp. presented results of a study Oct. 13 at the Child Neurology Society Annual Meeting that showed exome sequencing improved the diagnosis of autism spectrum disorders by up to 21% compared to current methods. At the same time, the research suggested that exome sequencing can identify children at risk of common comorbidities such as epilepsy, enabling more timely interventions.
In an expansion that will surely have other companies wondering why they didn’t move on the opportunity first, Icad Inc. partnered with Solis Mammography to identify cardiovascular risk based on incidental information commonly found in mammograms—and generally ignored.
Orthofix Medical Inc. and Seaspine Holdings Corp. signed a definitive agreement to combine in an all-stock merger of (near) equals. Following the close, Orthofix shareholders will own approximately 56.5% of the company and Seaspine shareholders will own approximately 43.5%. The new company’s name will be announced prior to the transaction’s anticipated first quarter of 2023 closing.
