Genomic sequencing specialist Wuxi Nextcode Inc. has received a significant cash infusion to further develop what it is calling the "gold standard" for a genomics database. The Shanghai-based company closed on a $240 million series B funding round it started near the end of the first quarter. Previously, the company had raised about $30 million.

Teleflex Inc. said it would buy urology specialist Neotract Inc. for up to $1 billion. Specifics of the deal call for Teleflex to offer an upfront cash payment of $725 million at closing and up to an additional $375 million upon the achievement of certain commercial milestones related to sales through the end of 2020. The deal is expected to close within 30 days.

Twenty year outcome data for Apollo Endosurgery Inc.'s Lap-Band technology shows patients lost 48.2 percent of their excess weight using the device. The Austin, Texas-based company presented data at the 22nd World Congress of the International Federation for the Surgery of Obesity and Metabolic Disorders in London, last week.

Abbott Laboratories has initiated a U.S. pivotal clinical study evaluating a modified version of its Amplatzer device designed to correct a common congenital heart defect that occurs in about 80,000 pre-term infants in the U.S. each year.

Profound Medical Corp. is raising C$10 million (US$7.8 million) through a syndicate of underwriters led by Echelon Wealth Partners Inc., including CIBC Capital Markets. The Mississauga, Ontario-based company is offering an aggregate of 10,000,000 units at a price of C$1 (US80 cents) per unit. Each unit will consist of one common share of Profound (CVE:MRY.P) and one-half of one warrant, with each whole warrant enabling the holder to acquire one common share at a price of $1.40 (US$1.12) per share.