Deals this week: Mesoblast, Scion Medical Technologies, Oncimmune

7 July 2016 (Last Updated July 7th, 2016 18:30)

Mesoblast Limited, a regenerative medicine company, intends to raise gross proceeds of up to A$60m ($44.65m) through the private placement of shares. The company has entered an equity facility with Kentgrove Capital, which will subscribe to the offering available to be used over 18 months.

Mesoblast Limited, a regenerative medicine company, intends to raise gross proceeds of up to A$60m ($44.65m) through the private placement of shares. The company has entered an equity facility with Kentgrove Capital, which will subscribe to the offering available to be used over 18 months.

Mesoblast also has an option to increase the offering value to A$120m ($89.29m) to be used over 36 months.

The proceeds from the offering will be used by the company to meet its additional funding requirements.

Scion Medical Technologies, a Chinese medical device company, and Mermaid Medical Group, have entered into a global distribution agreement to distribute the former's Cassi rotational core ultrasound biopsy device and Beacon breast tissue marker.

Mermaid Medical, with its in-depth knowledge of breast biopsy market and experience as a medical device distributor, sells the devices with the help of its dedicated direct sales force in the US and all major European markets.

"The agreement will allow Scion to expand the reach of its patented medical devices, while enabling Mermaid to build a first-class breast product portfolio."

The agreement will allow Scion to expand the reach of its patented medical devices, while enabling Mermaid to build a first-class breast product portfolio.

Oncimmune Holdings intends to develop ovarian and liver cancer-related diagnosis technology through a research partnership with Egybiotech and Aarhus University Hospital.

Accordingly, the company has entered a research agreement with Egybiotech and Aarhus, which will provide prospectively collected blood samples and associated clinical data to support the clinical trials of Oncimmune's EarlyCDT platform technology.

Huons Global, a pharmaceutical product manufacturer, intends to raise gross proceeds of KRW288.2bn ($250.3m) through a public offering of its common stock at a price of KRW58,104 ($50.5) each.

In a series B venture financing round NightBalance BV, a provider of sleep apnea technology, has raised €12.5m ($13.92m). Led by Inkef Capital B.V. and Gilde Healthcare Partners B.V., the round has also seen the participation of existing investors Thuja Capital B.V., Health Innovation B.V. and Van Herk Ventures.

The proceeds from the offering will be used by the company to intensify the commercialisation of its sleep position trainer in Europe and to further expand into the US market.