Molecular diagnostics outfit Biodesix raked in $11 million in additional Series E financing to develop its blood-based test for non-small cell lung cancer, months after the company locked in new funds to support its commercialization efforts.
Sequenom suffered a stinging defeat in its patent battle against Roche's Ariosa Diagnostics unit, as a U.S. appeals court ruled that the company's patent for its noninvasive prenatal test was invalid. Read more >>
Liquid biopsy tests are gaining traction within the industry as a viable alternative to traditional screening methods for cancer. A recent report by financial services firm Cowen & Co. said annual sales for the tools could surpass $10 billion, and study results are also turning up positive data in favor of the tests. Read more >>
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European private equity firm Cinven is snatching up German medical lab operator Synlab for €1.75 billion ($1.96 billion), continuing its dealmaking streak weeks after it announced it would shell out $1.3 billion for French diagnostics outfit Labco.
Google is teaming up with The Broad Institute of MIT and Harvard to create new ways of sharing genomic data and reduce barriers associated with storing and processing genetic information.
As the drug-resistant tuberculosis epidemic rages on, The Broad Institute of MIT and Harvard got a $20 million gift to develop new diagnostic and therapeutic approaches for the disease. Bill Ackman, CEO of Pershing Square, and Seth Klarman, president of The Baupost Group, rallied more than 20 investors to raise the funds.
Qiagen will combine its expertise in assays and biomarker panels with Hitachi's knowledge of instrumentation and manufacturing to advance research-based and clinical molecular testing via a strategic collaboration.
Silicon Valley's Advanced Cell Diagnostics recently announced that it has raised $22 million in a Series C financing led by Summit Partners, with participation from Kenson Ventures. Previous investors in the round were Morningside Ventures and New Leaf Venture Partners.
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Allergan Chairman Paul Bisaro has been quick to cut what he sees as redundant operations and people to help pay for his aggressive buying. Now, he has set his sights on the company's ancestry, with plans to whack a plant, and 300 jobs, in Iceland.
The U.S. Food and Drug Administration cleared the FlowTriever catheter-based thrombectomy device in March. Now its maker, Inari Medical, has garnered a $12.4 million Series B round to continue to improve the product, which is designed to extract significant amounts of clot from large blood vessels, and to demonstrate its value in clinical testing.