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Companion Diagnostics Pioneers Explore A Variety Of Business Models

This article was originally published in The Gray Sheet

Executive Summary

Stakeholders are hoping the regulatory environment for personalized medicine will brighten in the Obama administration, but uncertainty persists about the business case for drug-diagnostics partnerships

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Medical Device and In Vitro Diagnostics/Research Deal Statistics Quarterly, Q2 2009

Highlights from the Q2 2009 review of medical device and in vitro diagnostics/research dealmaking: Financings by medical device companies jumped an impressive 62% over Q1 to $847 million--primarily from private VC rounds that contributed over 90% of the total deal volume with 52 early- and late-stage transactions--indicating a possible rebound in fundraising. Medical device M&As, on the other hand, proved to be a disappointment with only ten deals raising $794 million, most of which was Covidien's $470 million cash purchase of Vnus Medical. Although there were no big mergers, some device firms instead turned to the strategic alliance as a way to gain inexpensive products and technologies. On the in vitro diagnostics/research side, financing activity captured over three times the previous quarter's dollars through 12 deals totaling $302 million, however, almost 80% of that amount was from Beckman Coulter's $239 million FOPO. VC rounds only averaged $6 million apiece, with early- and late-stage rounds together bringing in $43 million. M&A in this industry segment was almost non-existent with only two transactions adding up to $358 million, a mere third of Q1 M&A deal volume.

Medical Device and In Vitro Diagnostics/Research Deal Statistics Quarterly, Q2 2009

Highlights from the Q2 2009 review of medical device and in vitro diagnostics/research dealmaking: Financings by medical device companies jumped an impressive 62% over Q1 to $847 million--primarily from private VC rounds that contributed over 90% of the total deal volume with 52 early- and late-stage transactions--indicating a possible rebound in fundraising. Medical device M&As, on the other hand, proved to be a disappointment with only ten deals raising $794 million, most of which was Covidien's $470 million cash purchase of Vnus Medical. Although there were no big mergers, some device firms instead turned to the strategic alliance as a way to gain inexpensive products and technologies. On the in vitro diagnostics/research side, financing activity captured over three times the previous quarter's dollars through 12 deals totaling $302 million, however, almost 80% of that amount was from Beckman Coulter's $239 million FOPO. VC rounds only averaged $6 million apiece, with early- and late-stage rounds together bringing in $43 million. M&A in this industry segment was almost non-existent with only two transactions adding up to $358 million, a mere third of Q1 M&A deal volume.

LabCorp Buys Monogram Biosciences To Bolster Companion Dx Portfolio

LabCorp will expand its foothold in personalized medicine through its $155 million acquisition of companion diagnostics developer Monogram Biosciences

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