Medical Devices Today has provided a roundup of the most recent device and diagnostics deals, mergers and alliances from May and June from Windhover Information and FDC Reports’ Strategic Transactions - The Device Deal Database. Our proprietary database is designed for medical technology professionals and investors that need to stay current on the latest industry alliances, financing, mergers & acquisitions and other strategic partnerships.
Mergers & Acquisitions
Amic AB & Ortho-Clinical Diagnostics Inc. (a division of Johnson & Johnson)
Johnson & Johnson has acquired Amic, a private company developing point-of-care diagnostics, for an undisclosed amount. J&J's Ortho-Clinical Diagnostics division will use Amic's technology in its donor screening, clinical laboratory, and immunohematology businesses.
Biodisk AB & bioMerieux SA
BioMerieux is acquiring private in vitro diagnostics company Biodisk AB for an undisclosed amount. Founded more than 40 years ago based on research performed at the Karolinska Institute, Biodisk specializes in antimicrobial resistance testing.
Datascope Corp. & Sorin Group SPA
Just days after announcing it was contemplating offering itself for sale, Datascope (monitoring and surgical devices) has exercised its option under a 2006 agreement to buy Sorin Group's (kidney disease and cardiovascular devices) peripheral vascular stent business.
Ethicon Inc. (a division of Johnson & Johnson)
After conducting a bidding process to divest its professional wound care business, Johnson & Johnson's Ethicon has received an undisclosed offer from One Equity Partners, a private equity firm. Ethicon's advanced WC products--including Promogran matrix wound dressing, Tielle hydropolymer dressing, prescription Regranex (becaplermin) gel for lower extremity diabetic ulcers--are administered to promote wound healing through a moist environment and to control infection. Its general wound care offerings include gauzes and swabs to clean and protect the wound area.
Gen-Probe Inc. & Innogenetics NV
Gen-Probe (nucleic acid diagnostics) has launched a tender offer to buy all the outstanding shares, warrants, and convertible bonds of public molecular diagnostics company Innogenetics NV for $334mm (€215mm) in cash. Gen-Probe will pay $9.49 (a 7% premium) for each Innogenetics common share, or $293mm. Innogenetics offers genotyping assays for infectious diseases including hepatitis B, hepatitis C, and human papillomavirus; tests for cystic fibrosis and tissue typing for organ transplant compatibility; and the 4-MAT microarray platform for diagnostic applications such as analyzing genetic sequences and proteins.
Hologic Inc. & Third Wave Technologies Inc.
Only a year after bulking up women's health offerings through its Cytyc merger and BioLucent takeover, diagnostic imaging player Hologic is acquiring another company in this space--publicly held Third Wave Technologies (TWT; molecular diagnostics) for $580mm in cash.
Immunicon Corp. & Veridex LLC (a division of Johnson & Johnson)
Johnson & Johnson's Veridex has agreed to acquire the assets of Immunicon, a fellow diagnostics company that recently filed for bankruptcy, for $31mm in cash and the assumption of liabilities. Veridex gets IP, inventory, preclinical data and technologies that pertain to the CellSearch system, a test to automate the detection and enumeration of circulating tumor cells.
Oncologic Inc. & Triton BioSystems Inc.
Private cancer treatment companies Triton BioSystems and Oncologic have merged to form Aduro BioTech, a new company developing minimally invasive oncology therapies based on hyperthermia. Aduro's candidates in development use iron oxide nanoparticles that are capable of generating extreme amounts of heat to eradicate cancer cells when exposed to externally-applied alternating magnetic fields.
Alliances
Acrobot Co. Ltd. & Corin Group PLC
Acrobot (computer-assisted surgical systems) has licensed Corin Group PLC (orthopedic devices) exclusive rights to distribute its Acrobot navigation system for hip resurfacing in key markets, including the UK, Germany, and Australia.
Advanced Medical Optics Inc. & Alcon Inc. (a division of Nestle SA)
Fellow eye care companies Advanced Medical Optics (AMO) and Alcon have signed a cross-licensing deal for each other's intellectual property related to intra-ocular lenses (IOLs).
AngioDynamics Corp., Vascular Solutions Inc. & Vnus Medical Technologies Inc.
Vnus Medical Technologies has entered an agreement with AngioDynamics and Vascular Solutions that will settle all patent litigation between the companies that was initiated in October 2005. Vnus has granted AngioDynamics and Vascular Solutions a nonexclusive patent license for disposable endovenous laser fiber kits, laser fibers, and lasers used for endovenous laser ablation.
Bioject Medical Technologies Inc. & ImmunoVaccine Technologies Inc.
Bioject Medical Technologies (needle-free injection therapies) and vaccine developer ImmunoVaccine Technologies seek to use Bioject's Biojector 2000 device to deliver IVT's DepoVax vaccine for pandemic influenza.
Cambridge Heart Inc. & Massachusetts Institute of Technology
Cambridge Heart (cardiovascular devices) has licensed the Massachusetts Institute of Technology's US patent 7,336,995 entitled "Method and Apparatus for Tachycardia Detection and Treatment." The IP will be used to develop implantable devices including pacemakers and defibrillators to measure T-wave alternans (beat-to-beat fluctuations) from intra-cardiac signals, and to perform the necessary therapeutic procedure to prevent arrhythmias that can lead to sudden cardiac death.
Ferring Pharmaceuticals AS & Insulet Corp.
Insulet (diabetes) has agreed to develop a customized version of its OmniPod insulin management system to deliver one of Ferring Pharmaceuticals's women's health therapeutics.
George Mason University & ImmunoCellular Therapeutics Ltd.
ImmunoCellular Therapeutics (immune-based cancer treatments) and George Mason University have agreed to work together on the development of a blood test to detect small cell lung cancer and pancreatic cancer.
H. Lee Moffitt Cancer Center & Research Institute (a division of University of South Florida) & Xceed Molecular
Xceed Molecular (gene expression systems) has entered into an agreement with the University of South Florida's H. Lee Moffitt Cancer Center & Research Institute to develop molecular diagnostics for colon cancer.
Johns Hopkins University & Orion Genomics LLC
Johns Hopkins University has granted Orion Genomics (molecular diagnostics) exclusive worldwide rights to its patents that pertain to the use of the insulin-like growth factor 2 (IGF2) gene in identifying patients at risk for developing colorectal cancer.
MD Anderson Cancer Center (a division of University of Texas) & Rosetta Genomics Ltd.
Rosetta Genomics and the University of Texas's MD Anderson Cancer Center (along with Anderson's Kleberg Center for Molecular Markers) have agreed to work together in the development of a microRNA-based biomarker to predict lung cancer recurrence in patients who have already undergone resection surgery.
NuView Radiopharmaceuticals Inc. & Positron Corp.
NuView Radiopharmaceuticals (therapeutics for molecular imaging) has licensed exclusive marketing rights to Positron's (cardiovascular molecular imaging devices) PET, SPECT, and automated dose dispensing systems used with Positron's diagnostic imaging technologies.
Positron Corp. & University of Texas Health Science Center (a division of University of Texas)
Positron (cardiovascular molecular imaging devices) has licensed exclusive rights to the University of Texas's coronary disease (CD) reversal and prevention practice management program.
Rabin Medical Center & Rosetta Genomics Ltd.
Rosetta Genomics (microRNAs) and Rabin Medical Center will team up to develop microRNA-based oncology, gynecology, and obstetrics diagnostics.
Financings
Acclarent Inc.
Acclarent (sinus surgical devices) has filed to go public. Established in June 2004 as ExploraMed NC1 Inc., the company is targeting otolaryngologists with its Balloon Sinuplasty minimally invasive system for chronic sinusitis, specifically diseased frontal, sphenoid, and maxillary sinuses (but not ethmoid sinuses).
Adaltis Inc.
In vitro diagnostics company Adaltis netted $Cdn12.6mm ($12.7mm) through a rights offering of 40.3mm common shares priced at $Cdn0.32 each. The company had originally hoped to bring in about $Cdn14.9mm.
AGA Medical Holdings Inc.
Occlusion device company AGA Medical Holdings has filed for its initial public offering. The company was founded in 1995 and sells products for structural heart defects and vascular diseases in over 100 countries, with more than half of its sales coming from outside the US.
Angioslide Ltd.
Angioslide (catheters) has raised $8.6mm through its Series C venture round. Itochu led the financing and was joined by returning backers Ofer Brothers Hi-Tech and Viola Partners.
ApaTech Ltd.
Orthopedics company ApaTech raised £23mm ($45mm) through a private placement led by returning shareholder 3i with additional participation from first-time investor HealthCor Partners. A member from each investment firm will join the company's board.
BioSyntech Inc.
Canadian biomaterials firm BioSyntech issued $Cdn11mm of 12% subordinated secured convertible debentures. The notes are due in December 2009 and convert into common at $Cdn0.20 per share. (BioSyntech's stock was averaging around $Cdn0.23 at the time of the offering.) Buyers also received 2,500 five-year warrants to purchase additional common shares (exercisable at $Cdn0.22 each) for every $1,000 principle amount of notes.
Corindus Inc.
An undisclosed NY-based hedge/private equity fund specializing in health care is the sole investor in Corindus's (robotic systems to treat coronary artery and peripheral vascular diseases) $12mm Series B venture round.
Entellus Medical Inc.
Entellus Medical (minimally invasive treatment for chronic sinusitis) brought in $15mm via a Series C financing led by first-time backer Montagu Newhall Associates, which was joined by returning shareholders Split Rock Partners and SV Life Sciences. The company will use the funds to launch its FinESS sinus technology later this year.
HyperMed Inc.
Adding to the $5mm raised in February 2007 from Greenwich Biotech Partners, HyperMed (diagnostic imaging) has closed its Series A venture round with another $4mm from GBP Capital.
Insulet Corp.
Insulet (markets an insulin infusion system for diabetics) raised $65mm through the sale of five-year convertible senior notes due in 2013 to qualified institutional investors. The notes convert into cash up to the principal amount and common stock for the remainder over the conversion value.
Luminex Corp.
Luminex (markets the xMAP biological testing system used by pharma, diagnostics, and research companies) has netted $65.5mm through the follow-on public offering of 3.5mm common shares priced at $19.91 apiece.
Miracor GMBH
Miracor GMBH (developing the PICSO (Pressure-controlled Intermittent Coronary Sinus Occlusion) device for heart attack patients or those that are experiencing heart failure) has raised €6mm ($9.4mm) through the closing of its Series A venture round. Earlybird Venture Capital led the financing and was joined by Delta Partners.
NeuroVigil Inc.
NeuroVigil (noninvasive brainwave analysis) has received $250k in seed funding from Draper Fisher Jurvetson, DFJ Frontier, and Zone Ventures.
NsGene AS
NsGene AS (implantable devices and therapeutic proteins for CNS diseases) raised an additional DKK15mm ($3.1mm) from existing shareholders to bring a close to its DKK40mm late-stage venture round. In November 2006 it brought in DKK25mm through the first tranche.
OccuLogix Inc.
OccuLogix (devices to diagnose and treat age-related ophthalmic conditions) has raised over $5mm through the private sale of 50.8mm common shares priced at $0.10 each (a 44% discount). Marchant Securities was the placement agent.
PhysioSonics Inc.
PhysioSonics (formerly Allez PhysiOnix; noninvasive neurological devices) has closed the first portion of its Series A round. It has brought in $4mm from investors, including Johnson & Johnson Development Corp., so far.
SafeStitch Medical Inc.
SafeStitch Medical (minimally invasive surgical devices) raised $4mm through the private sale of 1.86mm common shares priced at $2.15 each, a 19% discount, to private investors including company executives.
Sequenom Inc.
Sequenom (platforms for genetic research and molecular diagnostics) netted $80.1mm through the follow-on public sale of 5.5mm shares at $15.50 each. The company will put the money towards developing noninvasive diagnostics that use its nucleic acid analysis system MassARRAY.
Sinexus Inc.
Sinexus (devices to treat ear, nose, and throat conditions) has raised $20mm through the closing of its Series B venture round. First-time backer PTV Sciences led and was joined by current investors Kleiner Perkins Caufield & Byers and US Venture Partners.
Sirigen Ltd.
Sirigen (conjugated polymers (CPs) for diagnostics and life sciences applications) has raised £2mm ($3.9mm) through its latest venture round. Seraphim Capital Fund and Oxford Capital Partners participated.
Strategic Polymer Sciences Inc.
Strategic Polymer Sciences (medical devices and energy storage) has raised $3mm through its Series A venture round. Returning backer Life Sciences Greenhouse of Pennsylvania and new investor Chengwei Ventures co-led the financing, which also included first-time investors Ben Franklin Technology Partners and Wilson Sonsini Ventures.
superDimension Ltd.
SuperDimension, which markets a minimally invasive device that generates standard CT images of the lung for early lung cancer detection, has sold $22.3mm worth of common shares in a late-stage venture financing.
VeraLight Inc.
VeraLight (diabetes screening devices) raised $20mm in its Series C financing led by returning shareholders Psilos Group and CMEA Ventures. Other existing investors vSpring Capital, Dow Chemical Co., and the Southern Ute Growth Fund were joined by first-time backer Epic Ventures. The company will use the funds to finish clinical trials and commercialize its Scout DS non-invasive diabetes screening system. To date, VeraLight has raised about $43mm through venture rounds.
XLumena Inc.
XLumena (ultrasound-guided endosurgical devices) raised $6.15mm in its Series A financing round led by Prism VentureWorks, which was joined by Ascent Biomedical Ventures and Charter Life Sciences. Each venture firm contributes a board member.
About Strategic Transactions - The Device Deal Database
Our proprietary database is designed for medical technology professionals and investors that need to stay current on the latest industry alliances, financing, mergers & acquistions and other strategic partnerships.
Find out more about what our Strategic Transactions - The Device Deal Database can do for you.
Strategic Transactions - The Device Deal Database provides expanded information, including:
- Comprehensive Deal Records
- Complete Financial Information
- Extensive Company Profiles
- Access to important SEC Documents
- Links to related articles
Contact: James DeFalco at: +1 (203) 838-4401 x104 or jdefalco@windhover.com.
Comments