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February 2, 2017

Deals this week: Phosphagenics, Diaxonhit, SciBase

Drug delivery systems provider, Phosphagenics, has signed a non-binding term sheet with medical device company, Terumo Corporation.

Drug delivery systems provider, Phosphagenics, has signed a non-binding term sheet with medical device company, Terumo Corporation.

Pursuant to the terms of agreement detailed in the term sheet, the former provides the latter exclusive rights to develop and commercialise its TPM (Targeted Penetration Matrix) / Oxymorphone patch in Japan. The latter will, in exchange, pay a non-refundable amount of ¥35m ($0.31m) within 30 days of signing the term sheet.

TPM is Phosphagenics’s proprietary drug delivery system and is known for enhancing the solubility and absorption of drugs and nutrients.

"Proceeds from the offering will be used by the company to acquire Eurobio."

Specialty diagnostic solutions provider, Diaxonhit SA, intends to raise gross proceeds of up to €8.9m ($9.5m) by issuing up to 40,454,545 shares to the public between 30 January 2017 and 03 February 2017.

Proceeds from the offering will be used by the company to acquire Eurobio.

Swedish medical technology company, SciBase AB, has partnered with German medical device company, DermoScan, to co-promote an integrated solution for early detection of malignant melanoma.

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Pursuant to the agreement, SciBase’s Nevisense, a point-of-care device to detect skin cancer, will be integrated with DermoScan’s DermoGenius Ultra, which is a digital dermoscopy system.

The electronic impedance scanning (EIS) measurements from the Nevisense will be integrated as a standard option in DermoGenius Ultra resulting in improved clinical workflow and diagnostic process for dermatology clinics.

Both the companies will jointly market the integrated solution increasing its reach to additional key target groups.

Cancer-diagnostics company, Guardant Health, and the University of Texas MD Anderson Cancer Center (MD Anderson) have signed a multi-year, commercial, research and development agreement to make comprehensive liquid biopsy a part of standard of care in cancer treatment.

As per the agreement, the California-based company will help MD Anderson in developing multiple on-site liquid biopsy centres for producing novel non-invasive assays using its digital sequencing technology.

The partnership enables Guardant to incorporate its breakthrough genomic cancer testing product, Guardant360, the world's first comprehensive liquid biopsy, as a cornerstone of cancer management.

The physicians at MD Anderson will use Guardant360 as a preferred liquid biopsy on the campus, as part of the agreement.

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