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May 18, 2017

Deals this week: Precision System Science, Amoy Diagnostics, Transcriptome Sciences

Precision System Science intends to raise gross proceeds of $7.57m through a private placement of 2.31 million shares of its common stock.

Precision System Science intends to raise gross proceeds of $7.57m through a private placement of 2.31 million shares of its common stock.

The offering will be subscribed to by Hitachi High-Technologies, which will hold 10% stake as a result.

The two companies will collaborate on sales of the nucleic acid extraction system and reagent, development of a medium-sized genetic testing system, as well as sales of a small genetic testing system and reagent.

Chinese molecular diagnostics company Amoy Diagnostics has announced a strategic partnership with CANbridge Life Sciences, a clinical stage biopharmaceutical company based in China.

The partners will develop a companion diagnostic assay for CANbridge’s lead candidate, CAN008, which is a fully-human Fc fusion protein that inhibits invasive tumour cell growth in patients with recurrent glioblastoma multiforme (GBM).

The diagnostic tools will be used in CAN008 Phase II clinical trial, which will be initiated in 2018 in China.

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Transcriptome Sciences has awarded exclusive licensing rights for its Molecular Microscope Diagnostic System (MMDx) to Thermo Fisher Scientific's One Lambda, a developer and distributor of HLA typing and antibody detection tests.

"It will complement the conventional biopsy processing to improve the assessment of rejection and injury in transplanted organs."

MMDx is a central diagnostic system that uses Thermo Fisher Scientific’s MyGeneChip Custom Microarray to read heart, lung and liver transplant biopsies.

It will complement the conventional biopsy processing to improve the assessment of rejection and injury in transplanted organs.

Surgical stapling devices manufacturer Dextera Surgical has raised $8m through a public offering of 8,000 shares of series B convertible preferred stock and 44,448,000 warrants, each exercisable for one share.

The proceeds will be used by the company for general corporate purposes such as finance development, sales and marketing for the MicroCutter 5/80, research and development (R&D), as well as other general administrative purposes.

Xtant Medical Holdings has announced the signing of a licensing agreement with Sites Medical, a company specialising in orthopaedic implant technologies.

Xtant will receive rights to use Sites’ proprietary OsteoSync Ti technology, which is a highly porous titanium scaffold with a high-friction coefficient that ensures high initial implant stability and facilitates superior bone ingrowth.

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