Deals this week: InSightec, Mazor Robotics, Vyriad

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

InSightec, a pioneer in MR-guided Focused Ultrasound (MRgFUS), has signed a strategic agreement with Siemens Healthineers to expand its access to Exablate Neuro technology.

Siemens and INSIGHTEC Sign Agreement

InSightec, a pioneer in MR-guided Focused Ultrasound (MRgFUS), has signed a strategic agreement with Siemens Healthineers to expand its access to Exablate Neuro technology.

The collaboration will enable the development of compatibility between Exablate Neuro, the only CE and FDA-approved device for the non-invasive application of MR guided focused ultrasound, and Siemens’ leading 1.5T and 3T clinical MRI systems, MAGNETOM Aera and Skyra.

Siemens will widen and add advanced therapy solutions to its diagnostic imaging portfolio, while both the companies will be able to provide Exablate Neuro services for existing as well as new customers.

Surgical guidance systems developer, Mazor Robotics has raised $20m in a second tranche private placement of 915,751 of its American Depositary Shares (ADSs), which was subscribed to by Medtronic, which, following the transaction, owns 7.27% of Mazor Robotics' issued and outstanding share capital.

The company has completed the first tranche of private placement of shares for raising gross proceeds of $11.9m in June 2016.

In a move to collaborate the development of theranostic tests to predict responsiveness to oncolytic virotherapy, novel oncolytic virus therapies developer, Vyriad has signed a license collaboration agreement with Imanis Life Sciences.

Pursuant to the agreement, the companies will develop in-vitro and in-vivo theranostic tests that assess the probability that a cancer patient will be responsive to Vyriad’s oncolytic virus therapeutics.

While Imanis Life Sciences will develop companion diagnostic tests using its proprietary virus technology, Vyriad will conduct clinical validation in Vyriad-sponsored clinical trials to determine their predictive power and will also be responsible for the regulatory approval.

Once the tests are approved, Imanis will grant non-exclusive license to Vyriad to use the tests to accelerate the development of its proprietary oncolytic viruses derived from the company's vesicular stomatitis virus (VSV), measles virus, or other Vyriad platforms.

In an extended series B venture financing round, Rotation Medical has raised $8m, which will be used to further accelerate commercialisation activities for its rotator cuff system in the US.

The funding has been subscribed to by its existing investors New Enterprise Associates, Life Sciences Partners BV, and Pappas Ventures.

"The companies will develop in-vitro and in-vivo theranostic tests that assess the probability that a cancer patient will be responsive to Vyriad’s oncolytic virus therapeutics."

The company, which has already raised $27.2m in a series B venture financing round in 2014, has also agreed to raise additional $4m in extended series B financing in 2017.

To further widen and improve its analytical services, contract research organisation, Bio Pharma Services has acquired certain key human resource assets from Bioanalytical Laboratory Services along with a list of validated assays.

Following the transaction, the latter’s assets will be combined with the former’s existing Bioanalytical Lab.


Image: Siemens and Insightec signing agreement to expand access to Exablate Neuro technology. Photo: courtesy of Siemens Healthineers INSIGHTEC