Deals this week: Medifirst Solutions, Endologix, Mevion Medical Systems

4 May 2017 (Last Updated May 4th, 2017 18:30)

Compact proton therapy systems provider Mevion Medical Systems has announced the signing of a strategic agreement with medPhoton GmbH.

medPhoton ImagingRing

Compact proton therapy systems provider Mevion Medical Systems has announced the signing of a strategic agreement with medPhoton GmbH.

Mevion Medical Systems will integrate its pencil beam scanning proton therapy system, MEVION S250i system with HYPERSCAN, into medPhoton GmbH's cone beam computed tomography (CBCT) system, ImagingRing, to provide less complex workflow and more precise and efficient proton treatment delivery.

The product integration will enable clinicians to provide the latest image-guided radiation therapy (IGRT) technology and enable them to track anatomical changes throughout the course of treatment. It will also allow them to adapt the treatment plan as required to ensure accurate proton dose delivery.

Cosmetic laser solutions provider Laser Lab Corp intends to provide exclusive licensing rights to market and sell its Green Laser to Medifirst Solutions.

The product is an anti-aging and aesthetic treatment, which gently restores and lightly resurfaces the tissue of the skin. It can be used to treat skin spots, wrinkles, acne, hyper-pigmentation, scars, skin detoxification, stretch marks and cellulite.

Medifirst plans to file for FDA clearance for the product before the end of this year.

Minimally invasive products developer Endologix intends to raise gross proceeds of $46.19m by issuing 6.47 million shares of its common stock priced at $7.14 a share.

The shares will be purchased by the company’s selling stockholders, including Deerfield Private Design Fund III, Deerfield Private Design Fund IV, Deerfield Partners, and Deerfield International Master Fund, LP.

Implantable neuromodulator devices developer Axonics Modulation Technologies has raised $14.5m in the initial round of its planned $30m Series C funding.

Existing stockholders, including Edmond de Rothschild Investment Partners, Advent Life Sciences, Cormorant Asset Management, Legend Capital, and NeoMed Management, provided the financing.

The funding will be used to conduct a pivotal clinical trial in overactive bladder patients in its efforts to gain US FDA approval and access markets around the world.

In-vitro diagnostics company Maccura Biotechnology and molecular testing solutions provider Qiagen have formed a new joint venture (JV) named MAQGEN, which will be based in Chengdu, China.

"The product integration will enable clinicians to provide the latest image-guided radiation therapy (IGRT) technology and enable them to track anatomical changes throughout the course of treatment."

The companies will own 60:40 shares respectively and will develop and commercialise the GeneReader NGS System, which provides the first true sample to Insight NGS workflow in both clinical and clinical research markets in China.

Advanced Cardiac Therapeutics (ACT) has received a new equity funding of $45m, which will be used to pursue a global clinical development programme and to gain regulatory approvals of its products in Europe and the US.

The funding has been provided by Ajax Health, existing investor New Enterprise Associates, and new investor Questa Capital Management.

ACT specialises in developing next-generation ablation catheters to treat cardiac arrhythmias, including atrial fibrillation, a condition in which the heart beats irregularly due to improper electrical impulses.


Image: Mevion will integrate medPhoton's ImagingRing with MEVION S250 Series. Photo: courtesy of Business Wire.