Deals this week: BioMarin Pharmaceutical, Hologic, eOmega

11 August 2016 (Last Updated August 11th, 2016 18:30)

BioMarin Pharmaceutical has placed a public offering of 7.5 million of its common stock shares to raise gross proceeds of $720m. It has also granted the underwriters a 30-day option to purchase an additional 750,000 shares of its common stock.

BioMarin Pharmaceutical has placed a public offering of 7.5 million of its common stock shares to raise gross proceeds of $720m. It has also granted the underwriters a 30-day option to purchase an additional 750,000 shares of its common stock.

The proceeds from the offering, which is expected to be closed on the 12 August 2016, will be used for clinical trials of its product candidates, manufacturing capacity expansion and other general corporate purposes.

The US Department of Health and Human Services and Massachusetts-based medical imaging systems developer, Hologic have entered a $4.1m agreement to advance the development of a Procleix Zika Virus Assay, the company’s blood screening test that will detect Zika virus ribonucleic acid (RNA) in donated blood plasma.

The one-year agreement could be extended up to 18 months and $6.2m in value to support the clinical study of the test, which is necessary for the US Food and Drug Administration (FDA) clearance.

"The one-year agreement could be extended up to 18 months and $6.2m in value to support the clinical study of the test."

Healthcare software solutions provider, eOmega has entered a strategic alliance with Integra Connect, an integrated cloud-based technologies and services provider for value-based specialty care, to integrate the latter’s Jiva Population Health Management (PHM) functionality into its solution portfolio.

Integra will add customised Jiva PHM capabilities including care management content and automated workflows that extend and enhance practice operations to manage, monitor and improve the comprehensive health and well-being of patients.

In a series G venture financing round led by Johnson & Johnson Innovation, medical device maker CVRx has raised $57.7m of its planned $93m. The financing round has also seen the participation of Gilde Healthcare Partners, Action Potential Venture Capital Limited and Windham Venture Partners along with existing investors New Enterprise Associates, and Ysios BioFund I F.C.R.

The company also plans to raise an additional $35.3m, after achieving a certain operational milestone, from the same investors.

Devicor Medical Products and Endomagnetics have entered an exclusive distribution agreement, under which the former will distribute the latter’s Sentimag, a magnetic surgical guidance system, in the US and Canada.

Sentimag is a surgical guidance system that avoids the need for traditional surgical needle wires by providing guidance to surgeons to detect cancerous lesions.


Image: The Sentimag magnetic surgical guidance system. Photo: Courtesy of PRNewsFoto / Devicor Medical Products, Inc.