Deals this week: Accuray, Thermo Fisher, Circassia

1 February 2019 (Last Updated February 4th, 2019 16:33)

Accuray has formed a joint venture (JV) with China Isotope and Radiation Corporation (CIRC) for the manufacturing and commercialisation of radiation oncology systems in China.

Accuray has formed a joint venture (JV) with China Isotope and Radiation Corporation (CIRC) for the manufacturing and commercialisation of radiation oncology systems in China.

CIRC’s division CNNC High Energy Equipment will hold a majority stake of 51% in the CNNC Accuray Medical Technology JV, while Accuray Asia, the Asian unit of Accuray, will hold the remaining interest.

The JV will benefit from the capabilities of the partnering companies in developing, manufacturing and catering radiation therapy products in the global radiation oncology systems market.

Accuray is a US-based medical device company, while CIRC is a nuclear medicine company based in China.

Thermo Fisher has agreed to sell its anatomical pathology business to PHC Holdings for $1.14bn in cash.

The divestiture will add Thermo Fisher’s portfolio, including laboratory equipment, cytology and histology testing products, antibodies, and other pathology and advanced pathology instruments and consumables to PHC Holdings.

“AIT will receive $7.35m upfront from Circassia, which will extend to an additional payment of $3.15m based on pre-submission meeting completion with the FDA.”

The investment will revamp PHC Holdings’ diagnostics and healthcare portfolio.

Thermo Fisher is an American biotechnology company, while PHC Holdings is a Japanese medical device company.

Circassia Pharmaceuticals is set to partner with AIT Therapeutics to secure exclusive commercialisation rights for AirNOvent in the US and China. AirNOvent is a portable ventilator-compatible nitric oxide generator.

AIT will receive $7.35m upfront from Circassia, which will extend to an additional payment of $3.15m based on pre-submission meeting completion with the FDA. AIT is also eligible to receive contingent payments based on the milestones achievements and royalties based on future sales of the product.

Circassia is a biopharmaceutical company based in the UK, while AIT Therapeutics is a medical device company based in the US.

Magnolia Medical Technologies has raised $20m in a Series C funding round led by RTW Investments.

Other investors who participated in the financing round include HealthQuest Capital, SightLine Partners, and Canepa Healthcare.

Proceeds from the funding round will be used to improve the company’s infrastructure, as well as for the marketing of its flagship product Steripath®Gen2 Initial Specimen Diversion Device® (ISDD®). The funding will also boost the company’s portfolio.

Based in the US, Magnolia Medical Technologies is a medical device company.

Venclose has partnered with Viant to manufacture the former’s advanced medical product VENCLOSE™ RF Ablation Catheter.

The company will transfer the product to Viant’s manufacturing facility in Costa Rica by the third quarter of 2019, in order to meet the rising demand and market growth.

Based in the US, Venclose is a medical device firm, while Viant is a contract manufacturer of medical devices also based in the US.