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Perkinelmer Inc. has set its sights on beefing up its diagnostics offerings with a proposal to acquire Euroimmun Medical Laboratory Diagnostics AG, a private company, for $1.3 billion. If the deal goes through, then the Waltham, Mass.-based company could expand its reach into the autoimmune and allergy diagnostic markets. Shares of Perkinelmer (NYSE:PKI) jumped about 6.5 percent during Monday trade, opening at 64.75 and closing at $67.73. Acquiring Lübeck, Germany-based Euroimmun would also give Perkinelmer great inroads into the China market. Sales in China account for about 45 percent of the $310 million in revenue...
Watson Health is working hard to demonstrate the seriousness of its ongoing efforts in oncology, highlighting its research and customers at the recent American Society of Clinical Oncology (ASCO) conference. The Boston-based IBM business had six presentations at ASCO based on its data and touted that its oncology product is being used at more than 55 cancer centers globally. But experts in the field of machine learning suggest that the real innovation and value-add for machine learning in oncology is in the analysis of radiology images, which are not addressed by the medical record and...
Wide-neck bifurcations in cerebral aneurysms are among the most difficult to treat. Vancouver start up Evasc Neurovascular Enterprises ULC has developed the Eclips Aneurysm Remodeling System; it's expected to offer a potential new standard-of-care, particularly in wide-neck bifurcations. Better aneurysm option? The company has just secured a C$10 million ($7.5 million) series A financing that it expects will be sufficient to continue an ongoing European trial, to conduct a French trial aimed at reimbursement and to start an FDA IDE trial in early 2018. It also plans to update the current device with the funds,...
Orthopedics giant Stryker Corp. has long been committed to advancing 3-D printing in its manufacturing. It has completed a facility dedicated to 3-D manufacturing in Carrigtohill, County Cork, Ireland, and is now in the midst of filling it with the latest equipment. As part of this effort, the Kalamazoo, Mich.-based company now has partnered with GE Additive, which focuses on additive manufacturing that encompasses 3-D printing. The deal includes the provision of new additive machines, materials and services for use throughout Stryker's global supply chain operations. Stryker has a history of major buy-in for potentially...
Centogene AG already has revenues from patient use of its expansive genetic testing portfolio for orphan disease patients – as well as from biopharma partnerships including a deal with rare disease specialist Shire plc. Now, the Rostock, Germany-based start up has secured a €25 million (US$28 million) series A round to expand its presence globally, broaden its biomarker as well as companion and genetic diagnostic offerings, as well as to move into oncogenetics. It aims to further build upon three business segments: Genetic Testing, Pharmaceutical Collaborations and Big Data Solutions. The former has been driving...
Medical robotics company Myomo Inc. goes public with IPO offering of $5 million at $7.50 per share. The Cambridge, Mass., company specializes in mobility devices for the arms and hands. The company's initial public offering was for 665,498 shares of common stock, sold at $7.50 per share for a total of $5 million. An additional private investment sale of restricted securities resulted in $2.9 million, totaling $7.9 million for Myomo. The private sale was closed primarily to those already investing in the company. Cash flow is expected to be used in the company's assistive prosthetic...
Cybersecurity in the health care arena is proving more difficult as hackers forge ahead of responses to those threats, and some believe that medical devices and electronic health records are unusually susceptible to hacking. Leo Scanlon, deputy chief information security officer at the Department of Health and Human Services, said in a congressional hearing that health care IT systems in the U.S. were not as badly compromised by the WannaCry ransomware as those in other nations, but he added that "in part, it was probably good luck" that the U.S. was not more severely affected....
Edwards Lifesciences Corp. won FDA approval for its Sapien 3 transcatheter heart valve device for aortic and mitral valve-in-valve procedures. The Irvine, Calif.-based company leads the way in a burgeoning sector of the market with the expanded indication. The minimally invasive valve procedure device segment for patients who are not indicated for traditional surgery is expected to grow over the next decade, analysts predict. "The global transcatheter heart valve replacement and repair [THVR] market was valued at $1.6 billion in 2015 and is expected to expand at a CAGR of 13.9 percent over the forecast...
Angiodynamics Inc. has filed a lawsuit against C.R. Bard Inc., claiming the Murray Hill, N.J.-based company has violated antitrust laws with its catheter tip locators. The lawsuit was filed in the U.S. District Court for Northern New York. Tip location systems are devices that can be used to aid health care professionals in the bed-side placement of a peripherally inserted central catheter (PICC). Albany, N.Y.-based Angiodynamic's lawsuit claims that Bard has a dominant position in the tip location system market and will only sell the stylet necessary to operate its tip location systems preloaded in...
Saluda Medical Pty Ltd. is spreading its roots in both the neuromodulation space and the developing bioelectronics medicine market with its latest funding round. The Artarmon, Australia-based company has secured $40 million in an all-equity financing series D round led by new investor, Action Potential Venture Capital, a Glaxosmithkline plc (GSK) fund that invests in companies developing bioelectronic medicines. Existing investors, including Medtronic plc, also participated in the round. Artarmon, Australia-based Saluda Medical is developing the Evoke Spinal Cord Stimulator (SCS) system. The device is designed to use the patient's own neural fingerprint to monitor...
LONDON – It’s no secret that American citizens pay the most for drugs, but the extent of the disparity is laid bare in a new index of the prices of 13 medicines...
The U.S. FDA has cleared Cochlear Ltd.’s newest cochlear implant, the Osia 2 system, an active implantable bone conduction hearing system. Unlike Cochlear’s...
Commissioner of the FDA for five years starting in 1984, Frank Young relished his position “at the vortex of controversy” as he sought to deal with the AIDS...
After being in the doldrums for the majority of the year, public biopharmaceutical companies, it appears, have turned the corner and are now on a major upswing.
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