Deals this week: Mobidiag, Garmin, ARANZ Medical

21 December 2018 (Last Updated December 21st, 2018 15:04)

Mobidiag has agreed to form a joint venture (JV) with Autobio Diagnostics for the commercialisation of the former’s Novodiag platform in China.

Mobidiag has agreed to form a joint venture (JV) with Autobio Diagnostics for the commercialisation of the former’s Novodiag platform in China.

The two companies will jointly invest €12.3m ($13.9m) in the new JV. Mobidiag will hold a 35% stake in the JV by contributing €4.3m ($4.8m), while Autobio will retain the majority stake of 65% with a contribution of €8m ($9m).

Mobidiag will also receive €10m ($11.3m) as equity investment from Autobio, which will be used to expand product portfolio and develop additional assays for the Novodiag platform.

In addition, the manufacturing capacity and commercial expansion of the product will be improved with proceeds.

The JV will receive an exclusive licence from Mobidiag related to human infectious disease assays in China, excluding sepsis.

Mobidiag is a biotechnology company based in Finland, while Autobio is a diagnostics company based in China.

Garmin has collaborated with ActiGraph for the development of wearables for patient care.

“Garmin’s wearables will be integrated with ActiGraph’s CentrePoint data analytics platform for performing medical research, clinical studies, and remote monitoring of patients.”

Garmin’s wearables will be integrated with ActiGraph’s CentrePoint data analytics platform for performing medical research, clinical studies, and remote monitoring of patients.

Garmin is a technology company, while ActiGraph is a medical device provider. Both companies are based in the US.

ARANZ Medical has announced that it has raised NZD5m ($3.4m) in equity financing.

Proceeds will be used to improve sales and marketing of the company’s products in crucial markets, as well as to enhance product innovation and portfolio.

ARANZ Medical is a medical equipments supplier based in New Zealand.

Imagion Biosystems has signed an agreement with Planet Innovation to develop the former’s MagSense instrument technology.

The companies will collaborate on the design and development of prototypes of the technology and its further development.

Under the agreement, Imagion Biosystems is eligible for research and development (R&D) tax incentive refunds related to product development in future.

Imagion Biosystems is a medical device company, while Planet Innovation is a technology firm. Both parties are based in Australia.