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May 11, 2017

Deals this week: Admera Health, Intrinsic Therapeutics, Becton Dickinson

Molecular diagnostic company Admera Health has signed a partnership agreement with University of Rochester School of Medicine and Dentistry for a randomised clinical study to evaluate the use of pharmacogenomics (PGx) in acute surgical pain management.

Molecular diagnostic company Admera Health has signed a partnership agreement with University of Rochester School of Medicine and Dentistry for a randomised clinical study to evaluate the use of pharmacogenomics (PGx) in acute surgical pain management.

Admera Health will extract and sequence DNA samples provided by the university, using its PGxOne Plus test, which is a 50-gene next-generation sequencing panel that recommends drugs based on an individual’s unique genetic make-up.

The clinical study will primarily determine if a pre-operative chair-side PGx algorithm can enhance the efficacy of surgical pain management.

In an equity financing round led by New Enterprise Associates and Delos Capital, Intrinsic Therapeutics has raised $28m, which will be used to continue developing its Barricaid annular closure device for lumbar discectomy patients.

The financing round has also seen the participation of Greenspring Associates, Quadrille Capital SAS and a corporate strategic investor.

The company specialises in developing medical devices to treat disc herniations in the spine for discectomy patients.

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Becton Dickinson (BD) has collaborated with UniteOR to deliver an integrated tracking solution for operating room and sterile processing departments in healthcare environments.

BD’s IMPRESS instrument management system will be integrated with UniteOR's cloud-based surgical tray tracking and vendor management solution. The integration will enable greater visibility of surgical tray management to healthcare workers.

"The clinical study will primarily determine if a pre-operative chair-side PGx algorithm can enhance the efficacy of surgical pain management."

The solution will be available worldwide from June.

BD has also announced a public offering of shares of its common stock to raise gross proceeds of $2.25bn. It also offers an option for the underwriters to buy additional shares worth up to $225m.

The gross proceeds from the transaction will be used by BD to support its previously announced acquisition of C R Bard and to pay related fees and expenses.

DexCom has announced the private placement of convertible senior notes, due 15 May 2022, to raise gross proceeds of $350m. It also offers initial purchasers a 30-day option to buy a maximum of $50m-worth notes in aggregate principal amount.

The offering will be subscribed to by qualified institutional investors. The proceeds will be used to repay the company’s existing credit facility, for other general corporate purposes, and to meet capital expenditure.

Cytolog Laboratories has secured exclusive distribution rights to sell and market Rosetta Genomics’ RosettaGX Reveal assay, a first-of-its-kind microRNA assay to detect indeterminate thyroid cancer in Brazil.

The agreement enables Rosetta Genomics to bring its product to the Brazilian market.

Cytolog is a diagnostics laboratory specialising in fine needle aspiration examinations.

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