Deals this week: Adin Dental Implant Systems, Cirtec Medica, Creavo Medical Technologies
In a move to make spine surgery safer, Adin Dental Implant Systems and disposable medical devices designer SpineGuard have signed a worldwide licensing agreement. SpineGuard's dynamic surgical guidance (DSG) technology will be used in the field of dental implantology.
DSG currently has applications in three major dental procedures with a combined potential of eight million.
The agreement, which enables SpineGuard to expand its patented technology beyond spine surgery, includes technology transfer and product development support between the two companies.
US-based Cirtec Medica, a provider of outsourced medical device design, engineering and manufacturing, will receive an investment of $136m from private equity firm 3i Group.
Cirtec specialises in outsourced solutions for active implantable devices for drug delivery, neuromodulation, cardiac rhythm management and minimally invasive devices.
The investor’s local presence and network will support the company’s expansion.
In an equity financing round led by IP Group, Creavo Medical Technologies has closed with an oversubscribed $17.4m.
The round has also seen the participation of existing shareholders and new, private and institutional investors from Europe, the US and China, including Parkwalk Advisors Ltd and Puhua Capital Ltd.
The proceeds will be used by Creavo to launch its products in Europe, to support clinical studies in the UK and operations in the US, and for other research and development activities.
Infection prevention products manufacturer Tristel along with Orbimed Advisors have made an investment of approximately $10.7m in optical diagnostic devices developer MobileODT (MODT).
Tristel’s investment of $0.75m represents 3.27% equity stake, while other key members of the company have made personal investments.
finnCap Ltd is the financial advisor to Tristel for the transaction.
In a series A venture financing round led by Lightspeed Venture Partners, Theranica Bio-Electronics has raised $6m, which will be used to support the regulatory process and production of its first product for the treatment of acute migraine.
The round has also seen the participation of LionBird (Ventures) Ltd and Corundum Open Innovation Ltd.