Deals this week: BioDirection, Micro-X, EnXray

12 April 2017 (Last Updated April 12th, 2017 18:30)

Medical device company BioDirection Inc has secured $2m in venture financing from investment companies, including Provident Healthcare Capital, MedScience Ventures LLC and others.

Medical device company BioDirection Inc has secured $2m in venture financing from investment companies, including Provident Healthcare Capital, MedScience Ventures LLC, and others.

BioDirection plans to use the funds to advance the development of its Tbit System, a point-of-care blood test for concussion diagnosis.

Micro-X Ltd has announced a rights offering of 11,940,972 shares priced at A$0.40 ($0.30) a share to raise A$4.77m ($3.57m). The company previously announced the private placement of 13 million shares priced at A$0.40 ($0.30) each to raise gross proceeds of A$5.2m ($3.9m).

Micro-X is an ultra-lightweight carbon nanotube (CNT) based X-ray products provider based in Australia.

The company plans to use the funds to commercialise its DRX Revolution Nano product, as well as to complete the development of Rover and Mobile Backscatter Imager, and raise general working capital.

EnXray Ltd has secured an additional £330,000 ($400,000) in a venture financing round. The company raised £800,000 ($970,000) in October 2016, bringing the total gross proceeds to £1.13m ($1.39m).

"The company raised £800,000 in October 2016, bringing the total gross proceeds to £1.13m."

EnXray is a development-stage technology company based in the UK.

The company plans to use the funds to launch its Low Energy X-ray (LEXR) sterilisation machine.

Australian medical technology company, Medibio Limited, has announced the signing of an agreement to establish a joint venture with lead investigator, Paul Porter.

Medibio and Paul Porter will create the 'Partnerships for Health Intelligence' (PHI) Project, under the agreement.

PHI will develop diagnostic products for mental disorders in the paediatric age group from 0 to 18.

Ferring International Center SA and ALRISE Biosystems GmbH have signed a development agreement granting the former exclusive option rights to the latter’s ImSus technology platform.

Ferring International will utilise the platform to develop an injectable formulation of a peptide.

Ferring International is a biopharmaceutical company based in Switzerland, while ALRISE Biosystems is a drug delivery company based in Germany.