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Exact Sciences Inks Genzyme Alliance To Aid Colorectal Cancer Test R&D

This article was originally published in The Gray Sheet

Executive Summary

Exact Sciences will gain resources and expertise to further develop its non-invasive colorectal cancer DNA screening technology through a strategic alliance with Genzyme

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Financings In Brief

Biocartis raises $41 million for diagnostics platform development: Swiss biotech firm raises $41 million in a "Series B" private placement to accelerate development of the rapid, automated DNA/RNA molecular diagnostic testing platform that it bought from Philips in February, Biocartis announces April 8 (1"The Gray Sheet" Feb. 15, 2010). Privately-held Biocartis "will use the proceeds ... to accelerate its plans to finalize the development and validation of the first version of its proprietary new platform," the start-up firm explains. Potential applications include oncology and infectious disease testing. New investors contributing to the financing included Johnson & Johnson Development Corp. and Debiopharm Group. Biopharmaceutical firm Debiopharm will collaborate with Biocartis on companion diagnostics linked to therapies developed by Debiopharm under a personalized medicine partnership announced separately on April 8

Financings In Brief

Biocartis raises $41 million for diagnostics platform development: Swiss biotech firm raises $41 million in a "Series B" private placement to accelerate development of the rapid, automated DNA/RNA molecular diagnostic testing platform that it bought from Philips in February, Biocartis announces April 8 (1"The Gray Sheet" Feb. 15, 2010). Privately-held Biocartis "will use the proceeds ... to accelerate its plans to finalize the development and validation of the first version of its proprietary new platform," the start-up firm explains. Potential applications include oncology and infectious disease testing. New investors contributing to the financing included Johnson & Johnson Development Corp. and Debiopharm Group. Biopharmaceutical firm Debiopharm will collaborate with Biocartis on companion diagnostics linked to therapies developed by Debiopharm under a personalized medicine partnership announced separately on April 8

Medical Device and In Vitro Diagnostics/Research Deal Statistics Quarterly, Q1 2009

Highlights from the Q1 2009 review of medical device and in vitro diagnostics/research dealmaking. Device financing activity remained down bringing in only $522 million--the majority invested through VCs, mostly via late-stage venture rounds--not much change from the previous quarter, but a significant drop from Q1 2008, which saw $920 million. Device M&A brought in $4.4 billion, double the previous quarter, but most of Q1's money came from Abbott's $2.86 billion purchase of Advanced Medical Optics. Four other transactions topped the $200 million mark, including three deals by device giant Medtronic, which grabbed cardio companies CoreValve, Ventor Technologies, and Ablation Frontiers. There was also a decline in in vitro diagnostics and research fund-raising with 2009's opening quarter only seeing about half the dollars of Q4 2008.

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