Deals this week: Verily, Enlitic, Genfit

11 January 2019 (Last Updated January 14th, 2019 13:00)

Verily has secured $1bn in a funding round led by Silver Lake.

Verily has secured $1bn in a funding round led by Silver Lake.

Proceeds will be used to form strategic partnerships and explore business development prospects and future acquisitions.

Verily is a research company and health technology unit of Alphabet. Silver Lake is a private equity firm. Both companies are US-based.

Enlitic has received investment from Marubeni for the development and commercialisation of a new artificial intelligence-based diagnostic device.

The device will utilise deep learning to evaluate medical data and detect diseases through X-rays and CT scans.

Marubeni also plans to develop the image diagnosis system in Japan.

Enlitic is a medical device company based in the US, while Marubeni is an investment company in Japan.

Genfit has partnered with Covance to increase the access for a novel diagnostic test for Alcoholic Steatohepatitis (NASH).

The partnership will allow the companies to provide a non-invasive test for the detection and monitoring of patients with NASH and fibrosis. The diagnostic test will be provided to the clinical research community for further validation via Covance’s central laboratories.

Based in France, Genfit is a biopharmaceutical company, while Covance is a contract research organisation based in the US.

Veracyte has joined forces with Johnson & Johnson (J&J) Innovation to develop and commercialise novel tests for early stage lung cancer detection.

“J&J will make an upfront payment of $5m to Veracyte, which will be followed by up to $15m in potential milestone payments.”

J&J will make an upfront payment of $5m to Veracyte, which will be followed by up to $15m in potential milestone payments.

The partnership will combine multiple year study cohorts performed in more than 5,000 patients and the clinical outcomes to develop non-invasive nasal swab diagnostic tests for the detection of lung cancer at an early stage.

Veracyte will supply samples of bronchial brushing and nasal swab from its biorepository and will install RNA whole-transcriptome sequencing platform for integrated cohort.

Veracyte is a genomic diagnostics company based in the US.

Otsuka Pharmaceutical has collaborated with Click Therapeutics for the development and marketing of a prescription digital therapeutic to treat major depressive disorder (MDD).

The partnership will offer Click’s novel mobile application, CT-152, for MDD treatment. Otsuka will fund the development of CT-152 and will also be responsible for its commercialisation worldwide.

Click will receive up to $10m as upfront and regulatory milestone payments, followed by $20m as development funding and $272m as sales milestone payments.

Click will support the discovery and validation of the software and clinical deployment, while the development and marketing of the approved prescription therapies for patients will be performed by Otsuka.

Based in Japan, Otsuka is a pharmaceutical company, while Click is a medical device company based in the US.