Deals this week: LBT Innovations, WishBone Medical, CellRight Technologies

9 March 2018 (Last Updated March 9th, 2018 12:00)

LBT Innovations Limited plans to raise A$3.8m ($5.43m) through the private placement of 2.5 million shares priced at A$0.15 ($0.12) a share.

LBT Innovations Limited plans to raise A$3.8m ($5.43m) through the private placement of 2.5 million shares priced at A$0.15 ($0.12) a share.

Australian investors have subscribed to the placement.

LBT has concurrently raised A$3.21m ($2.49) through the private placement of 2.14 million shares priced at A$0.15 ($0.12) a share. The company also raised A$1m ($0.77m) through a rights offering of 6.6 million shares priced at A$0.15 ($0.12) a share.

It plans to use the funds to commercialise its APAS technology and for working capital purposes.

LBT Innovations is an Australian designer of advanced automated solutions for the preparation and analysis of microbiology culture specimens.

WishBone Medical Inc has signed an agreement with Implanet SA to distribute the JAZZ implant system to the orthopaedic market in the US.

The JAZZ implant system is used to treat spinal pathologies.

Based in the US, WishBone Medical is a paediatric orthopaedic company, while Implanet is a French medical technology company. 

CellRight Technologies LLC has signed a multi-year distribution agreement with Arthrex to give surgeons access to its verified osteobiologics and advanced surgical instrumentation.

Based in the US, CellRight is a regenerative medicine company, while Arthrex, also based in the US, is an orthopaedic surgical solutions company.

“The UK-based diagnostics company plans to use the funds to launch its breath biopsy test in the market and expand its early detection pipeline.”

Biodesix has announced that it has increased the size of its series G preferred shares offering.

The company plans to use the funds for the development of new blood-based diagnostic tests and expansion of its VeriStrat and GeneStrat tests.

Based in the US, Biodesix is a molecular diagnostics company developing non-invasive, blood-based diagnostic tests for oncology.

Owlstone Medical Ltd has raised £11m ($15m) in a venture financing round co-led by Horizons Ventures Limited and existing investors.

The UK-based diagnostics company plans to use the funds to launch its breath biopsy test in the market and expand its early detection pipeline.

Akers Biosciences Inc plans to raise $0.278m through the private placement of 1.48 million shares of its common stock priced at $0.1875 a share.

Based in the US, Akers is a medical device company developing proprietary, in vitro diagnostic technologies and products.

Applied BioCode Corp plans to raise TW$440.48m ($15m) through a rights offering of shares priced at TW$40 ($1.36) a share.

Former shareholders of the company will subscribe to 90% of the shares, while the remaining 10% shares will be subscribed to by the company’s employees.

The Taiwanese company plans to use the funds towards working capital purposes.

Terumo Corp has signed an agreement to acquire the assets related to Medeon Biodesign Inc’s large bore vascular closure device.

Terumo will pay $20m upfront and make additional payments upon achieving certain development milestones.

Based in Japan, Terumo is a medical device manufacturer developing products for use in cardiothoracic surgery and interventional procedures, while Medeon Biodesign is a public trade company based in China.

The acquisition will expand Terumo’s interventional access device business.