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July 13, 2018updated 27 Jul 2018 7:38am

Deals this week: EndoGastric Solutions, SafKan Health

EndoGastric Solutions Inc has raised $30.5m through a financing round from existing investors and new investors.

EndoGastric Solutions Inc has raised $30.5m through a financing round from existing investors and new investors.

The company plans to use the funds towards the commercialisation of its transoral incisionless fundoplication (TIF) procedure for patients suffering from gastroesophageal reflux disease (GERD).

Based in the US, EndoGastric Solutions develops innovative and incisionless surgical technology for the treatment of GERD.

SafKan Health Inc has raised funds through a venture financing round led by cultivating (MD) Capital Fund II LP.

The company plans to use the funds to secure a 510k clearance, produce inventory and for commercialisation activities.

Based in the US, SafKan Health focuses on the development of the novel cerumen removal system, OtoSet.

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Wuhan Easydiagnosis Biomedicine Co Ltd has raised CNY340.41m ($51.4m) through an initial public offering of 16.64 million shares priced at CNY20.45 ($3.02) each.

Based in China, Wuhan Easydiagnosis Biomedicine is an in-vitro diagnostics manufacturer specialised in the research and development of point-of-care testing (POCT) rapid diagnostic reagents.

Specialty Surgical Instrumentation Inc has signed an agreement to acquire Bovie Medical Corp’s electrosurgical business segment and its Bovie brand for $97m.

“The transaction will strengthen Specialty Surgical’s sales force and expand the distribution of its single-use surgical products.”

Ruskin Moscou Faltischek PC has been appointed as legal advisor to Bovie Medical for the transaction.

The transaction is expected to be closed in September, subject to customary closing conditions.

Based in the US, Specialty Surgical Instrumentation is a provider of surgical and other medical instruments, while Bovie, also based in the US, is a manufacturer of medical devices and electrosurgical products.

The transaction will strengthen Specialty Surgical’s sales force and expand the distribution of its single-use surgical products.

IsoRay Inc has signed an agreement with several investors to raise $8.25m through the private placement of 11 million shares of its common stock priced at $0.75 a share.

The company plans to use the funds towards working capital, general corporate purposes and for the commercialisation of its Build-Blu delivery system for real-time prostate brachytherapy.

Gallagher and Kennedy PA has been appointed as legal advisor to the company for the offering.

The transaction is expected to be closed in July, subject to customary closing conditions.

Located in the US, IsoRay is a medical research and development company and a producer of cesium-blu brachytherapy seeds.

UK-based DYSIS Medical Ltd has raised £18m ($23.9m) through a financing round.

The company plans to expand its footprint in the US and UK for research and development activities.

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