Deals and M&As this week: Coyote Bioscience, NuProbe, Dian Diagnostics

27 April 2018 (Last Updated April 27th, 2018 15:11)

Coyote Bioscience Co Ltd has raised funds through a pre-A financing round led by Frees Fund and Longly Capital.

Coyote Bioscience Co Ltd has raised funds through a pre-A financing round led by Frees Fund and Longly Capital.

Based in China, Coyote is a medical research and development company.

NuProbe Inc has raised $11m through a series A financing round co-led by Sequoia China Investment Management LLP and Serica Partners Asia Ltd. WuXi AppTec Corporate Ventures also participated in the funding round.

The company plans to use the funds to hire additional staff at its Cambridge, Massachusetts and China offices. NuProbe will also use part of the funds to continue technology development, clinical trials and commercialisation.

NuProbe is a provider of medical technology innovations.

Dian Diagnostics Group Co Ltd has raised CNY1.074bn ($170.57m) through a private placement of shares.

Dian plans to use the proceeds towards the enhancement of its on-going projects.

Formerly known as Zhejiang DIAN Diagnostics Co Ltd, Dian Diagnostics is a medical laboratory company based in China.

“With combined revenue of more than $200m, the merged company will work towards the development of medical devices for the treatment of aortic disease.”

QT Vascular Ltd has raised S$0.14m (0.1m) through a private placement of 8.09 million shares priced at S$0.017 (0.013) a share, for the partial payment of its short-term loans.

Based in Singapore, QT Vascular provides products for the minimally invasive treatment of vascular disease.

CorMatrix Cardiovascular Inc plans to issue equity securities to raise $8m through a venture financing round.

Based in the US, CorMatrix is a medical device company that develops biomaterial devices.

Direct Genomics Biotechnology Company has raised CNY218m ($34.7m) through the private placement of shares in a series A financing round.

Cosun Venture Capital Investment Co Ltd was the lead investor, while five other investors participated in the round.

Based in China, Direct Genomics is a developer of a genome sequencing system.

Emboline Inc has raised $3m through a series B financing round from investors SV Tech Ventures and Shangbay Capital.

William Dai of ShangBay Capital will join S Peng Cheng of SV Tech Ventures on the Emboline board of directors, as part of the transaction.

The proceeds will be used to fund the SafePass™ clinical trial for the EmbolinerTM Embolic Protection Catheter.

Based in the US, Emboline is a medical device company.

Vascutek and its sister company Bolton Medical have merged to form a single entity named Terumo Aortic, which will be focused on the aortic and vascular implants market.

With combined revenue of more than $200m, the merged company will work towards the development of medical devices for the treatment of aortic disease.

The new entity also plans to expand its aortic and vascular implants market through an integrated research and innovation strategy.

Vascutek and Bolton are both medical device companies that are subsidiaries of Terumo, a medical device company based in Japan.

McKesson Corporation has reached an agreement to acquire Medical Specialties Distributors LLC (MSD) from New Mountain Capital LLC, an investment firm based in the US, for an undisclosed sum.

McKesson is a provider of retail pharmacy and healthcare information technology services, while MSD is a distributor of infusion and medical-surgical supplies. Both the companies are also based in the US.

Expected to be closed in June 2019, the transaction is subject to customary closing conditions and regulatory approvals.