Valeritas Holdings, a medical technology company focused on improving the health of Type-2 diabetes patients, is offering an initial public offering (IPO) of its shares to raise gross proceeds of up to $50m. It grants underwriters an option to buy additional shares to cover any over allotments.
Proceeds from the offering will be used to continue the sales and marketing activities of the company’s flagship product, V-Go, which is a disposable insulin delivery device, as well as for the further development of V-Go Prefill and V-Go Link products.
It will also be used to fund research, development and manufacturing, and for other working capital and general corporate purposes.
Zhejiang Dian Diagnostics (Dian), an independent chain of medical laboratories in China, has signed a joint laboratory licensing agreement with Metabolon, to promote and commercialise the latter’s products and services in China.
Pursuant to the agreement, Dian will use Metabolon’s proprietary Discovery HD4 platform in its new state-of-the-art laboratory in Hangzhou as well as promote its metabolomics-based products for research use in pharmaceutical, consumer goods, agricultural, academic, clinical applications, and in supporting large-cohort population studies in China.
Merck has partnered with diagnostics company, Exosome Diagnostics, to continue its drug development efforts in oncology and other therapeutic areas with the help of the latter’s full-scale proprietary technology platforms.
The collaboration leverages the Exosome’s centralised and de-centralised business models and fills the gap between discovery and the clinic for liquid biopsies.
Swedish medtech company, Bactiguard, and transvascular catheter technologies developer, Smartwise, have signed a joint development and licensing agreement for the development and commercialisation of advanced, bactiguard-coated vascular injection catheters.
The companies will jointly develop an advanced injection technology, which delivers therapies to targeted areas of the body such as the heart and the brain. While Bactiguard develops the coating process for Smartwise’s micro catheters, the latter will take care of the certification, registration process and clinical trials of the product.
Bactiguard will receive $2.5m for granting exclusive and global rights to Smartwise, payable in 2017. The former will further receive royalty payments once the products are marketed.
Chinese medical technology firm, Guangzhou Improve Medical Instruments, has announced private placement of its shares to raise gross proceeds of up to CNY600m ($87.29m), which will be used to fund its projects and other capital requirements.