Deals this week: GlaxoSmithKline, Dextera Surgical, Biolase

4 August 2016 (Last Updated August 4th, 2016 18:30)

GlaxoSmithKline (GSK) has formed a joint venture (JV) with Verily Life Sciences to form a new company called Galvani Bioelectronics, which will be dedicated to research, development and commercialisation of bio-electronic medicines, a new scientific field that devices treatment solutions for a wide range of chronic ailments using miniaturised, implantable devices.

Intuitive Surgical's da Vinci robotic surgical system

GlaxoSmithKline (GSK) has formed a joint venture (JV) with Verily Life Sciences to form a new company called Galvani Bioelectronics, which will be dedicated to the research, development and commercialisation of bio-electronic medicines, a new scientific field that devices treatment solutions for a wide range of chronic ailments using miniaturised, implantable devices.

The two companies hold 55% and 45% stakes in the new company, in which they plan to invest up to £540m ($714m) over the next seven years.

Expected to be closed before the year end, the new agreement will allow the companies to develop bio-electronic medicines by bringing together GSK’s world-class drug discovery and development expertise and Verily’s world-leading technical expertise.

Dextera Surgical, a manufacturer of surgical stapling devices, and Intuitive Surgical, a robotic surgical systems provider, have joined hands for the co-development of a surgical stapler and cartridge for use with the latter’s da Vinci robotic surgical system.

Pursuant to the joint development programme, Intuitive will develop stapler, while Dextera will work on the stapler cartridge.

"Pursuant to the joint development programme, Intuitive will develop stapler, while Dextera will work on the stapler cartridge."

The partnership will enable Intuitive to further expand its long-term opportunity of the MicroCutter technology.

Dental laser systems provider, Biolase has announced private placement of shares to raise gross proceeds of $10m, which will be used for new product development and for other corporate purposes.

Expected to be closed on 8 August 2016, the offering will be subscribed to by Jack W. Schuler Living Trust, Oracle Partners, L.P. and Oracle Institutional Partners L.P., as well as Biolase's directors and officers.

Quanterix Corporation, a high-definition diagnostic tools developer, has announced a new collaboration with biomarker developer, Banyan Biomarkers, to further neurological research for improved traumatic brain injury (TBI) diagnosis and treatment.

The two companies signed a license agreement, under which Quanterix obtained license to two assays from Banyan, namely the Banyan UCH-L1 and Banyan GFAP, which will be incorporated in the former’s Simoa platform to bolster its research-use test menu for TBI.

Cure Forward and Personal Genome Diagnostics have entered an agreement, which will enable cancer patients using the former’s Patient Activation platform to select PGDx as their genomic testing service provider, through which they can directly access genomic testing results through the platform.

The results will be provided in inter-operable formats to help patients take their own care by directly applying the data.


Image: Intuitive Surgical's da Vinci robotic surgical system. Photo: courtesy of Intuitive Surgical.