Boston Scientific agreed to pay $150 million in cash plus up to $125 million if clinical and commercial milestones are met over four years for San Bruno, Calif.-based nVision Medical, a startup that offers a balloon for collecting cells from the fallopian tubes to help detect ovarian cancer. Boston Scientific is looking to conduct a 120-patient study for the device, which was already evaluated in three smaller studies.
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Vermillion is looking to raise $15 million in gross proceeds in separate but concurrent offerings of 10 million shares of its common stock and 50,000 shares of its Series B convertible preferred stock. Proceeds, which could reach $16.5 million if the 30-day overallotment option is exercised by the underwriter, will be used as working capital, as well as to support portfolio expansion, sales and marketing and other general corporate functions.
A mixed round of financing involving three anonymous sources pulled in $10 million for Intact Vascular, an SEC filing showed. The company, which makes the Tack endovascular system, did not disclose how it intends to use the proceeds and is still looking to raise $11.8 million in the round.
A funding round brought in $9.5 million for Boston-based Confer Health, which plans to use the money for developing at-home diagnostic devices that come with a mobile app, a reusable analyzer and interchangeable cartridges. The company is making an at-home device for strep throat detection and is looking to release its Confer Conceive fertility device in 2019.
A partnership was reached by Illumina and Bristol-Myers Squibb to create and commercialize companion diagnostics for the pharmaceutical company's pipeline of oncology drugs. A diagnostic version of Illumina's TruSight Oncology 500 that will run on the NextSeq 550Dx is expected to be developed by the companies.
A study at New York University Abu Dhabi is exploring the use of magnetic nanoparticles to deliver drugs directly to cancer cells, reducing side effects. "When the tumor is formed, to increase the concentration for the nanoparticles, a magnet has to be placed near the tumor, and then the magnetic nanoparticles can be guided to the site," explained researcher Ali Trabolsi, assistant professor of chemistry at NYUAD.
Two liquid biopsy panels were launched by Qiagen for use in assessing circulating tumor cells isolated from blood samples. The AdnaTest LungCancer kit determines CTCs involved in cancer growth and in a cancer therapy resistance marker called epithelial-mesenchymal transition, while the AdnaTest ProstateCancerPanel kit evaluates resistance to drugs for advanced prostate cancer as it spots the androgen receptor splice variant 7 in CTCs of prostate tumor origin.
Alcon launched the CyPass Ultra System for use in streamlining the implantation of the CyPass Micro-Stent for intraocular pressure treatment. The system comes with a preloaded microstent within a loader tip that is connected to the CyPass applier, a hand-held surgical instrument.
A review of India's Generalized System of Preferences eligibility based on issues surrounding its compliance with the GSP market access criterion was initiated by the US Trade Representative after US industry groups, including AdvaMed, filed petitions for a review of the country's GSP benefits. Representatives from the trade body, who wanted stent price cuts be reviewed by the Indian government, visited the country last week.
The FDA granted Siemens Healthineers clearance for the updated version of its Somatom Force dual-source CT scanner, which now comes with the company's Fully Assisting Scanner Technologies integrated workflow technology. The new device includes the company's iterative metal artifact reduction technique, an upgraded image reconstruction system and the FAST 3D camera, which enables automatic positioning of patients using artificial intelligence and deep learning.
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