Latest Deals
Credit:
FTC rejects Illumina’s $7.1bn Grail acquisition
US agency Federal Trade Commission (FTC) has rejected biotechnology company Illumina’s $7.1bn vertical acquisition of cancer test solutions developer Grail.
The deal has been rejected by the agency over concerns that it would stifle competition in the US market for research, development, and commercialisation of cancer tests.
In September 2020, Illumina reached a definitive agreement for the acquisition of Grail for cash and stock consideration.
Mercy BioAnalytics raises $41m for lung cancer screening test
Mercy BioAnalytics has raised $41m in Series A financing to accelerate the development of its lung cancer screening test platform, Mercy Halo. Novalis LifeSciences led the oversubscribed financing round, while other participants included Hatteras Venture Partners, Sozo Ventures, and Broadway Angels. Under this round, the company also received strategic investments from Labcorp and Bruker as well as existing investors.
Enovis agrees to acquire foot and ankle company Novastep
Medical technology company Enovis has entered a definitive agreement for the acquisition of the Novastep business from French surgical devices provider Amplitude Surgical. Through the acquisition, Enovis aims to boost its position in the global foot and ankle market.Novastep is engaged in the development of solutions for extremities surgery, which covers the foot and ankle. The company’s extremities business reported revenues of €17.7m in the fiscal year ending 30 June 2022.
Stratasys and CollPlant to co-develop bioprinting solution
Stratasys has entered an agreement with CollPlant Biotechnologies to jointly develop and commercialise a solution for the industrial-scale bioprinting of tissues and organs. The companies will initially collaborate on the development of a bioprinting solution for regenerative breast implants produced by CollPlant.
