Deals this week: Tepha, HTG Molecular Diagnostics, Midatech Pharma

13 October 2016 (Last Updated October 13th, 2016 18:30)

Medical device company, Tepha, has entered a royalty obligations agreement with pharmaceutical company, Metabolix, to use the latter’s biopolymer technology in certain medical applications.

Medical device company, Tepha, has entered a royalty obligations agreement with pharmaceutical company, Metabolix, to use the latter’s biopolymer technology in certain medical applications.

As part of the agreement, which also includes two additional Metabolix production strains and related IP, Tepha will pay Metabolix $2m in order to avoid future royalties.

HTG Molecular Diagnostics and Merck KGaA have signed a broad companion diagnostics master agreement.

"Tepha will pay Metabolix $2m in order to avoid future royalties."

The initial development programme under the agreement involves using the former’s EdgeSeq DLBCL cell of origin assay in the latter’s development programme of M7583, a selective and irreversible inhibitor of Burton’s Tyrosine Kinase (BTK).

Midatech Pharma has raised £16m ($19.83m) through a private placement of its common stock shares, which was oversubscribed to by its existing and new investors.

The company has also raised £12m ($14.87m) in another private placement of its common stock shares.

The proceeds will be used by the company to expand and advance product development pipeline, to invest in its manufacturing and commercial platform and for working capital expenses.