Merck's venture capital arm is the lead investor in a $12 million financing round for promising molecular diagnostic outfit AdvanDx. Their target: hospital-acquired infections that are increasingly producing drug-resistant strains.
Myriad Genetics and rival Gene By Gene put to rest their patent infringement fight over BRCA gene testing, though Myriad is continuing to battle other competitors over the same issue. The essence of the deal: Texas-based Gene By Gene won't sell or market tests in North America that cover the analysis of BRCA1 and BRCA2 as a standalone test, or along with gene panels, according to Myriad's disclosure. But the company can keep selling the products outside of North America. Myriad, the University of Utah Research Foundation, HSC Research and Development Limited Partnership, Endorecherche and the Trustees of the University of Pennsylvania hold the patents in question.
Forget organic growth. In 2013, some of the biggest moves into new or expanded markets in the med tech world came through serious M&A activity.
The top deals announced or closed in 2013 created supergiants in the diagnostics and renal device spaces for the first time. One transaction helped a major device player expand its orthopedic device offerings. Another $1.1 billion purchase helped a pharmaceutical giant become a major maker of a birth control device implant in one fell swoop. Another international med tech player, always on the lookout for new business lines, snatched up a buzz-worthy maker of an endoscopic pill camera in a deal announced at the end of 2013 that just closed in February, gaining new revenue possibilities through a smart acquisition.
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Seattle's Adaptive Biotechnologies has pulled in $105 million from Viking Global Investors to finish off combined Series C and D rounds. The cash infusion will expand the commercial reach of the company's immunosequencing tech to help diagnose and treat cancer, infectious diseases and autoimmune disorders.
ERBA Diagnostics has something to crow about for 2013. Year-over-year, the Florida in vitro diagnostics outfit swung from a net loss to a small profit, aided, in part, by a surge in new revenue stemming from a 2012 acquisition. The company said it is eyeing more M&A deals in 2014.
Sequenom scored against Illumina's Verinata Health in a ruling at the U.S. Patent and Trademark Office involving noninvasive prenatal genetic diagnostic tech. Wasting no time, executives plan to use that decision as a weapon in an ongoing legal battle between the two California companies.
Despite heavy competition, GE Healthcare will forge ahead with its ongoing acquisition spree, division chairman and CEO John Dineen has said. Execs are continuing their search for more information technology and life sciences diagnostic deals to help enhance the company's edge.
Qiagen snatched up a biomarker from an Austrian research group that will aid in the development of a test designed to better diagnose rare blood disorders.
The University of California and a Chinese company will launch a high-end medical lab in Shanghai expected to handle molecular diagnostics and other tests for Chinese patients. They're billing the initiative as the first of its kind between a Chinese company and a U.S. academic medical center.
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Amid new layoffs and plummeting revenues, the pharma sales force continued to decline in North America and Europe in 2013.
Pennsylvania wound-care specialist Alliqua pulled in $15 million from a private funding round and another $5.3 million from the exercise of warrants, giving the company a $20.3 million windfall overall.