Enigma Biomedical Group (EBG), a company based in Toronto, Canada, has announced research collaboration with Biogen and Merck for the qualification and validation of Tau, a novel imaging agent developed by Merck.
The investigational agent will be used in positron emission tomography (PET) scans to figure out the status and progression of neurofibrillary tangles (NFTs), which are made of aggregated tau protein and are a hallmark of a number of neurodegenerative diseases in the brain.
The agreement is anticipated to accelerate the discovery of new treatments for neurodegenerative diseases, including Alzheimer’s.
In a move to encourage the advancement of miniature insulin delivery devices, Juvenile Diabetes Research Foundation (JDRF) has announced a partnership with Arecor, a leading formulation technology company based in the UK.
Pursuant to the agreement, JDRF will provide Arecor with up to $0.9m in milestone funding over 12 months for the development of stable, rapid-acting, ultra-concentrated insulin, which will require a smaller vial and also offer a vastly superior mealtime insulin product for type 1 diabetes patients.
Pennsylvania-based spine implant manufacturer Globus Medical intends to acquire international operations and distribution channel of Alphatec Holdings, the parent company of Alphatec Spine, a spinal fusion technology provider, for a cash consideration of $80m along with a five-year senior secured credit facility of up to $30m.
Accordingly, both the companies have signed a definitive agreement, which also includes an agreement to supply Alphatec’s products to Globus for up to five years. Further, Alphatec will not compete with Globus in the international market for seven years.
To commercialise its first generation of Smart Spectrometers, US-based advanced spectroscopic instruments provider, Atonarp has secured $16m in a venture financing led by Innovative Network Corporation of Japan (INCJ).
Atonarp’s miniaturised Smart Spectrometer is a highly configurable, flexible, real-time data analytic tool, which can be used across a wide variety of applications.
Point-of-care diagnostic (POCs) tests developer, Chembio Diagnostics has announced public offering of shares of its common stock to raise gross proceeds of $10m. It also grants underwriters a 30-day option to purchase up to 15% additional shares to cover over-allotments, if any.
The proceeds from the offering will be used by Chembio to expand its business and for other working capital requirements.
Craig-Hallum Capital Group is the sole book-running manager for the offering, while Benchmark Company is the co-manager and Haynes and Boone is the legal advisor.
Image: A syringe. Photo: courtesy of: FreeImages.com / Mark Csabai.