Pacts In Medtech, July/August 2016
Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, this new bimonthly Pacts In Medtech column pulls up notable technology alliances, R&D partnerships and commercial collaborations. This month we highlight deals announced in July and August 2016.
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Galvani Bioelectronics, the new joint venture between Google’s health-care spinoff Verily and drug giant GSK, will develop a new generation of "bioelectronic medicines" – neuromodulating therapies to treat a wide range of chronic diseases. Brian Otis, CTO of Verily, tells Medtech Insight how the devices that will come out of Galvani differ from existing neuromodulation technologies.
BeiGene and Novartis penned a potential $2.2bn collaboration for the development, manufacture, and commercialization of BeiGene’s humanized IgG4 anti-PD-1 monoclonal antibody tislelizumab in the US, Canada, Mexico, member countries of the EU, the UK, Norway, Switzerland, Iceland, Liechtenstein, Russia, and Japan. Steris entered into a definitive agreement to acquire Cantel Medical, a global provider of infection prevention products and services primarily to endoscopy and dental customers. The total enterprise value of the deal is estimated at $4.6bn. Financing reached $10.5bn in biopharma, $984m in device, and $2.7bn in diagnostics.
During Q4, device company fundraising totaled $4.2bn; while in vitro diagnostic firms and research tools players raised $6.1bn.