Deals this week: Archer, Magnolia Medical Technologies, Chembio Diagnostics

6 April 2017 (Last Updated April 6th, 2017 18:30)

Oncology sequencing applications developer Archer has partnered with precision medicine company HeliTec to advance the development of next-generation sequencing (NGS) based cancer diagnostics in China.

Oncology sequencing applications developer Archer has partnered with precision medicine company HeliTec to advance the development of next-generation sequencing (NGS) based cancer diagnostics in China.

Pursuant to the partnership agreement, the companies will co-develop and cross-license certain NGS technologies to eventually register oncology diagnostic kits with the China Food and Drug Administration.

The agreement also provides HeliTec with access to all of Archer's NGS assays.

In a series B financing round, Magnolia Medical Technologies has raised an additional $7.25m, bringing its total funding to $30m.

The funding will be used to accelerate the commercial adoption of SteriPath, the company's flagship test product used to detect false positives when diagnosing sepsis.

The financing round has seen the participation of institutional investors, including the Canepa Advanced Healthcare Fund.

Medical device company, Chembio Diagnostics, has partnered with non-profit organisation, Foundation for Innovative New Diagnostics (FIND), to co-develop a point-of-care (POC) diagnostic test to detect multiple life-threatening acute febrile illnesses.

“The rapid and cost-effective test will be based on the former’s proprietary DPP technology platform."

The rapid and cost-effective test will be based on the former’s proprietary DPP technology platform that identifies multiple acute febrile illnesses, which are normally seen in Asia Pacific region, simultaneously.

Visual prostheses developer, Bionic Vision Technologies (BVT), has raised A$23.5m ($18m) through a private placement of shares subscribed to by China Huarong International Holdings and State Path Capital.

The company will use the funds to develop and market its experimental visual device, bionic eye, which will be used to restore vision in patients with retinitis pigmentosa, an inherited degenerative eye condition.

Medical technology company, 3-D Matrix, has signed a license agreement with Chinese Peptide Company (CPC) to commercialise a local absorbable haemostat in China.

The agreement grants CPC, an affiliate company of Guizhou Xinbang Pharmaceutical, exclusive rights to develop, trial and market the product in the country, in exchange for $4.5m upfront and royalty payments for a number of years.

Teijin and Nativis have signed a licensing agreement to develop and commercialise the latter’s ultra-low radio frequency energy (ulRFE) technology in Japan.

Pursuant to the agreement, the Teijin will receive exclusive rights to Nativis’ Voyager® ulRFE System, an investigational medical device for glioblastoma multiforme (GBM), a malignant brain tumour.

Teijin will subsequently provide sub-licensing rights to its fully-owned subsidiary, Teijin Pharma, to develop and market the licensed technology in Japan.

Minimally-invasive medical technology provider, Synchron, has raised $10m in a series A venture financing round led by NeuroTechnology Investors.

The financing round has also seen the participation of US Department of Defence and Defense Advanced Research Projects Agency.

The funds will be used by the company to begin a first human clinical trial of its investigational technology system, Stentrode.

The trial will test the system's ability to enable paralysed patients to achieve direct brain control of assistive technologies, such as robotic limbs, exoskeletons and communication aids.