Deals this week: Kingstronbio, Ad Me Tech, Cardiovascular Systems

26 January 2018 (Last Updated November 22nd, 2018 11:18)

Chinese company Kingstronbio (Changshu) Co Ltd has raised $19.5m through a Series B funding round led by Salubris Biotherapeutics Inc (SalubrisBio).

Chinese company Kingstronbio (Changshu) Co Ltd has raised $19.5m through a Series B funding round led by Salubris Biotherapeutics Inc (SalubrisBio).

Ad Me Tech Co Ltd plans to raise CNY‎10m ($0.089m) through the private placement of 64,500 new shares priced at CNY155 ($1.39) a share.

The Japanese company plans to use the funds for the production of AMTC 300 B and self-heating needles for the National Cancer Institute of Ukraine and other hospitals.

Cardiovascular Systems Inc will distribute OrbusNeich’s balloon products in the US.

Based in the US, Cardiovascular Systems is a medical device company, while OrbusNeich is a medical device supplier based in China.

The collaboration enables the two companies to expand their product portfolio.

PolyNovo Ltd has signed an agreement with Establishment Labs SA to develop medical devices for breast aesthetics and reconstruction.

“The company will grant underwriters an option to purchase additional shares at the same offer price within 45 days.”

PolyNovo will develop the polymers for the devices as part of the agreement, while Establishment Labs will carry out animal and clinical trial programmes.

Based in Australia, PolyNovo is a medical device company, while Establishment Labs is a silicone-filled breast implants designer based in Costa Rica.

PAVmed Inc plans to raise $75m through a public offering of shares of its common stock.

The company will grant underwriters an option to purchase additional shares at the same offer price within 45 days.

The US-based company plans to use the funds for working capital and other corporate purposes.

US-based GI Dynamics Inc plans to raise A$2.05m ($1.6m) through the private placement of 28.5 million CHESS Depositary Interests (CDIs) priced at A$0.03 ($1.6m) a CDI.

The proceeds are intended to be used for the development of EndoBarrier and for working capital purposes.