Deals this week: AceCGT Life Science, MicroPort Scientific, NeuroMetrix

5 January 2017 (Last Updated January 5th, 2017 18:30)

Clinical diagnostic solutions provider AceCGT Life Science has secured exclusive distribution rights to commercialise MDxHealth’s SelectMDx prostate cancer diagnostic test in Hong Kong and Macao, and special administrative Regions of China.

Clinical diagnostic solutions provider AceCGT Life Science has secured exclusive distribution rights to commercialise MDxHealth’s SelectMDx prostate cancer diagnostic test in Hong Kong and Macao, and special administrative Regions of China.

Pursuant to the distribution agreement signed between the companies, the former will commercialise the test in the regions and the patients samples will be sent to the latter’s clinical diagnostic laboratory in Nijmegen, the Netherlands, for analysis.

Lombard Medical has announced MicroPort Scientific Corporation as the exclusive marketing partner for its two key stent graft products Aorfix and Altura, in China.

"The agreement also provides MicroPort a technology license to manufacture the products for the Chinese market, as well as exclusive marketing rights in Brazil."

The agreement also provides MicroPort a technology license to manufacture the products for the Chinese market, as well as exclusive marketing rights in Brazil.

The companies also intend to enter a component supply manufacturing agreement, under which MicroPort will manufacture certain components for the Aorfix and Altura product lines in its Shanghai facilities.

Aorfix and Altura are two stent grafts used to treat abdominal aortic aneurysms (AAA).

Wearable medical devices provider NeuroMetrix has announced a public offering of its common stock shares to raise gross proceeds of $26.5m. Each share, priced at $0.70, comes with one warrant to purchase one common stock share.

Approximately $19.45m of the total proceeds will be used by the company to redeem 19,450 series D convertible preferred stock shares, while the remaining will be used to commercialise one of its devices, named Quell, in the US and for other general corporate purposes.

Hybrid contact lens technology provider SynergEyes has signed a licensing agreement with Tangible Science for the latter’s Hydra-PEG polymer coating, which is designed to make the use of contact lens more comfortable by increasing wettability, surface water retention, tear break-up time, lubricity and deposition resistance.

Hydra-PEG received FDA clearance in August 2016 and is now available on Duette and Duette progressive lenses in the US. The products will be made internationally available in 2017.

Biocartis Group and Amgen have entered a new agreement to accelerate access to RAS biomarker information, which is critical for treatment selection for patients with metastatic colorectal cancer (mCRC).

The new agreement, which builds on the existing partnership between the companies, will enable select hospitals in up to ten European countries to access RAS biomarker information using Biocartis’ Idylla platform and RAS tests.

In a venture financing round, Veran Medical Technologies has raised $31m by issuing debt and equity securities to Oxford Finance and existing investors including Versant Venture Management and River Cities Capital Funds.

The amount raised will be used by the company to commercialise its SPiN Thoracic Navigation System technology platform.

Medical device company Leica Biosystems GmbH has collaborated with Bayer AG to develop companion diagnostic tests based on tissue samples using RNAscope and immune-histochemistry for cancer patients.

The partnership will leverage Leica Biosystems’ expertise in assay development and regulatory approval and Bayer’s expertise in commercialisation of companion diagnostic tests for novel targeted anti-cancer therapies.

Intact Vascular, a medical device company specialising in minimally invasive peripheral vascular procedures, has raised an additional $7.1m in a series B venture financing round, bringing the total gross proceeds to $46m, which includes $38.9m raised by the company in May 2015.

The proceeds will be used by the company to advance its clinical developments programmes as well as product development initiatives.

In a venture financing round, funded by Caixa Capital Risc, SGEIC, S.A. and Kereon Partners S.A., Transplant Biomedicals has raised €2.5m ($2.62m).

The gross proceeds from the round will be used by the company to conduct clinical trials and for technological development of its medical device used to store and transport organs for transplantation. The company will also seek CE marking for the same to commence sales in Europe by 2018.

Molecular diagnostics company Interpace Diagnostics, in a move to raise gross proceeds of $4.2m, has announced a private placement of shares of its common stock. The placement, which will be subscribed to by certain institutional investors, also includes pre-funded warrants.

The amount raised from the offering, which is expected to be closed on or about 6 January 2017, will be used for working capital purposes, repayment of debts and for other general corporate purposes.