Deals and M&As this week: TELA Bio, Polarean Imaging, Cesca Therapeutics

30 March 2018 (Last Updated March 29th, 2018 11:06)

TELA Bio Inc has agreed to raise $1m in a venture financing round led by ProMedica’s ProMedica Innovations Venture Fund.

TELA Bio Inc has agreed to raise $1m in a venture financing round led by ProMedica’s ProMedica Innovations Venture Fund.

TELA Bio and ProMedica Innovations will form a strategic partnership with surgical specialists at the ProMedica Hernia Center, as part of the agreement.

TELA Bio plans to use the proceeds towards the enhancement of patient care, surgical outcomes and cost reductions.

Based in the US, TELA Bio is a provider of surgical reconstruction solutions, while ProMedica, also based in the US, is a network of hospitals and healthcare centres.

Polarean Imaging Ltd has raised £3m ($4.2m) through an initial public offering of shares of its common stock.

The proceeds from the offering will be used to fund clinical trials, develop technology and for working capital purposes.

Based in the UK, Polarean is a manufacturer and service provider for noble gas polariser devices and ancillary instruments.

“Accelerate Diagnostics Inc plans to raise $150m through a private placement of 2.5% convertible senior notes due March 2023.”

Cesca Therapeutics Inc plans to raise $1.38m through the private placement of 609,636 shares of its common stock priced at $2.27 a share.

Investors will also receive unregistered warrants to purchase 304,818 shares of common stock priced at $2.68 a share.

Based in the US, Cesca is a developer and manufacturer of automated blood processing systems and disposables.

Tristel plc has signed a manufacturing and marketing agreement with Parker Laboratories to manufacture and market its Tristel’s Duo chlorine dioxide foam disinfectant in the North, Central and South America regions.

The collaboration will enable the two companies to enter the ultrasound and infection prevention market in the US.

Based in the UK, Tristel is involved in the manufacturing of infection prevention and contamination control products, while Parker Laboratories is a US-based company involved in the development and manufacturing of products for use in ultrasound and electromedical markets.

Akers Biosciences Inc (Akers) has signed a three-year national distribution agreement with Diagnostica Stago Inc for the sale of its PIFA PLUSS PF4 Rapid Assay across the US.

PIFA PLUSS PF4 Rapid Assay is an in-vitro diagnostic device for testing Heparin-induced thrombocytopenia (HIT).

Based in the US, Akers is a medical device company, while Diagnostica Stago, also based in the US, is a provider of in-vitro diagnostic products.

AroCell AB has raised SEK35m ($4.24m) through a rights offering of 10.75 million shares priced at SEK3.3 ($0.39) a share.

Each shareholder will receive one subscription right, which grants the holder to purchase new shares.

Based in Sweden, AroCell AB is involved in the development and commercialisation of tests for cancer diagnosis and monitoring.

Accelerate Diagnostics Inc plans to raise $150m through a private placement of 2.5% convertible senior notes due March 2023.

Based in the US, Accelerate Diagnostics is an in-vitro diagnostics company providing solutions for the diagnosis of serious infections.

The company plans to use the funds for general corporate purposes, working capital and acquisitions.

3B Medical Inc has completed the acquisition of US-based research and development company VBOX.

Through the acquisition, 3B Medical gains the global licensing rights to VBOX’s intellectual property, including a light portable oxygen concentrator.

Based in the US, 3B Medical focuses on the development of innovative solutions in sleep and respiratory therapy.

RadiaDyne Inc has sold its OARtrac patient dose monitoring system to University Hospital’s Cleveland Medical Center (UH).

OARtrac system is a diagnostic patient dose monitoring platform used in cancer treatment.

Based in the US, RadiaDyne is a privately held diagnostic and medical device company focused on patient dose monitoring technology, while UH, also based in the US, is a non-profit organisation.

Etymotic Research Inc has merged with US-based medical device company Lucid Hearing.

Based in the US, Etymotic is involved in the research, development and manufacturing of high-fidelity headsets and earphones to enhance and protect hearing.

The merger will enable Etymotic Research to develop new products.