Deals this week: Medtronic, FloSonics Medical, Olympus America

2 February 2018 (Last Updated February 2nd, 2018 14:47)

Medtronic Plc has signed an agreement with Royal Philips to develop and market its LungGPS(TM) patient management platform, which is designed to enable clinicians to identify and diagnose lung nodule patients.

Medtronic Plc has signed an agreement with Royal Philips to develop and market its LungGPS(TM) patient management platform, which is designed to enable clinicians to identify and diagnose lung nodule patients.

The two companies will collaborate for the commercialisation of the platform as part of the agreement.

Medtronic is an Irish company, while Royal Philips health is a technology company based in the Netherlands.

FloSonics Medical has raised CA$5m ($4.06m) through a seed funding round led by iGan Partners and other investors.

The Canadian company plans to use the funds to develop and market its wearable sensor Flopatch.

Olympus America Inc has signed an agreement with Intelligent Endoscopy for the distribution of its SmartBand Multi-Band Ligation Kit.

The FDA-approved kit is used to endoscopically ligate internal haemorrhoids and oesophageal varices.

Both the companies involved in the deal are based in the US.

Axio Biosolutions Pvt Ltd along with its affiliates has raised $7.4m through a series B financing round led by RNT Capital.

“The US-based biomedical company plans to use the funds to expand its footprint in new markets.”

Medtronic Plc has signed an agreement with Royal Philips to develop and market its LungGPS(TM) patient management platform, which is designed to enable clinicians to identify and diagnose lung nodule patients.

The US-based biomedical company plans to use the funds to expand its footprint in new markets.

Senseonics Holdings Inc has announced plans to raise $50m through a public offering of 5.25% convertible senior subordinated notes due 2023.

The underwriters will be granted an option to purchase additional notes worth $7.5m within 30 days of offer closure.

The US-based company plans to use the funds towards the commercialisation of Eversense in the US, research and development, and other corporate purposes.

General Atomics Electromagnetic Systems Group (GA-EMS) has announced the acquisition of Xagenic Inc’s entire assets.

The assets will be integrated into GA-EMS’ biosensor technology development operation located in California.

The transaction enables GA-EMS to expand its microelectronics and manufacturing operations.

GA-EMS is a US-based manufacturer of electromagnetic and electric power generation systems, while Xagenic is a molecular diagnostic company based in Canada.