Deals this week: RPRD, Great Basin Scientific, Illumina

16 February 2017 (Last Updated November 22nd, 2018 11:30)

With an aim to advance clinical pharmacogenomics, RPRD ('Right Person Right Drug') has collaborated with Children’s Hospitals and Clinics of Minnesota, which will use the former’s diagnostic platforms in their respective hospitals and clinics.

With an aim to advance clinical pharmacogenomics, Right Person Right Drug (RPRD) has collaborated with Children’s Hospitals and Clinics of Minnesota, which will use the former’s diagnostic platforms in their respective hospitals and clinics.

The partnership encourages the clinics to use RPRD’s diagnostic platform within their cancer and blood disorder clinic as well as in the neurology-psychology practice. Clinicians will closely work with RPRD Diagnostics in implementing the service.

Molecular diagnostics company, Great Basin Scientific, intends to raise gross proceeds of up to $10m through a public offering of its class A units, each of which will consist of its common stock share and series J warrants.

"The agreement enables Quest Diagnostics to manage 11 laboratories serving PeaceHealth Medical's medical centres in the three states."

In addition, the company will issue class B units, which consist of one pre-funded series K warrant to purchase share of its common stock and series J warrants. Each Pre-funded series K warrant will be sold together with one series J warrant.

The gross proceeds from the offering will be used for research and development (R&D), sales and marketing, and manufacturing expenses. A part of the proceeds will also be used for general corporate and other working capital purposes.

Invivoscribe Technologies and Illumina have entered a long-term agreement for the development and commercialisation of in-vitro diagnostic (IVD) assays for the next-generation sequencing (NGS) MiSeqDx platform.

Pursuant to the agreement, the companies will work together to seek FDA clearance for the approval of a number of biomarker and immuno-oncology assay kits for use on the MiSeqDx instrument.

The collaboration will enable them to continue offering more than just RUO assays in the US. They will offer FDA-approved kits to benefit patients and the field of personalised molecular diagnostics and precision medicine.

To expand its manufacturing operation in the US, medical device company, Insulet Corporation, has purchased a manufacturing facility in Acton, Massachusetts, US.

The company will outfit the state-of-the-art facility with highly-automated manufacturing equipment to increase its capacity. The newly acquired plant will produce 70% more pods on a single line with up to 90% less staff, compared to the company’s other manufacturing lines in China.

Quest Diagnostics has signed a definitive agreement with PeaceHealth Medical Group to acquire the latter’s outreach laboratory services operations.

Pursuant to the agreement, the two companies have formed a two-part arrangement to enhance the delivery of laboratory services to communities in Oregon, Washington and Alaska.

The agreement enables Quest Diagnostics to manage 11 laboratories serving PeaceHealth Medical's medical centres in the three states.

The transaction, which is expected to be closed in Q2 2017, will enable the companies to improve access to innovative and convenient laboratory diagnostic services for people in the Pacific Northwest.

Factor Medical has provided exclusive rights to Prollenium Medical Technologies to distribute its Selphyl Platelet-rich Fibrin System across Canada.

The Selphyl System enables the preparation of platelet-rich fibrin matrix (PRFM) from a small sample of blood collected at the patient point of care.

Collagen Solutions intends to raise gross proceeds of £1.8m ($2.25m) by rights offering of 35,924,258 shares at a price of £0.05 ($0.06) a share.

The shares will be subscribed to by qualifying shareholders on the basis of one new ordinary share for every five existing ordinary shares.

Concurrently, the company intends to raise £6.2m ($7.75m) through a private placement of 123,799,999 shares, which will be subscribed to by certain institutional and other investors.

In yet another announcement, the collagen components manufacturer has announced its intention to raise £1m ($1.25m) through a private placement of senior secured Tranche C bonds with warrants having a term of 36 months.

The bonds will be issued to Norgine Ventures Management, which gave a conditional commitment to subscribe for up to £4m ($5m)-worth bonds.

The company has also announced private placement of senior secured Tranche B private bonds with warrants having a term of 42 months, to raise gross proceeds of £1m ($1.25m).

The gross proceeds from all the offerings will be used for working capital expenses, to invest in the development and commercialisation of value device products, and to expand the existing medical collagen supply business.