Deals this week: Exosome Diagnostics, D.Western Therapeutics Institute, ProMIS Neurosciences

9th February 2017 (Last Updated February 9th, 2017 18:30)

Biofluid-based diagnostics provider Exosome Diagnostics has signed an agreement with Merck to help advance the development of new drugs in oncology and other therapeutic areas using the former’s proprietary technology platforms that span across nucleic acid and protein.

Biofluid-based diagnostics provider Exosome Diagnostics has signed an agreement with Merck to help advance the development of new drugs in oncology and other therapeutic areas using the former’s proprietary technology platforms that span across nucleic acid and protein.

Exosome Diagnostics is based in the US, while Merck is based in Germany.

Japanese biotechnology company D.Western Therapeutics Institute has raised ¥219.3m ($1.95m) from the private placement of 425,000 shares of its common stock, as a result of exercise of 4,250 units of its ninth series warrants.

The exercise price of the shares was ¥516 ($4.58) a share.

Precision treatments developer ProMIS Neurosciences has announced its intention to raise C$2.03m ($1.56m) in gross proceeds from the private placement of up to 14 million units, which include one common share of the company and one-half of a common share purchase warrant a unit.

Each full warrant is exercisable into one common share of the company at a price of C$0.2 ($0.15) a share for 36 months.

The units are priced at C$0.145 ($0.111) each.

With the intention of developing a chemotherapeutic technology to treat liver cancer, US-based biomedical company Q BioMed has signed an agreement with the Oklahoma Medical Research Foundation (OMRF) and the Rajiv Gandhi Centre for Biotechnology (RGCB), based in Thiruvananthapuram, India.

"Precision treatments developer ProMIS Neurosciences has announced its intention to raise C$2.03m ($1.56m) in gross proceeds from the private placement of up to 14 million units."

Biopharmaceutical company Chrysalis BioTherapeutics has signed a three-year contract worth $5.45m with National Institute of Allergy and Infectious Diseases (NIH-NIAID) for TP508, nuclear countermeasure peptide.

The drug will be developed as a countermeasure to increase survival and reduce delayed effects of an accidental or intentional nuclear detonation.

Both parties involved in the transaction are based in the US.

Alkem Laboratories’ over-the-counter (OTC) division Alkem Healthcare will exclusively market and distribute Haw Par India‘s Tiger Balm range of products in India under a marketing and distribution agreement signed between the two companies.

Both companies involved in the transaction are based in India.

With the objective of developing its pre-clinical portfolio of oncology drug candidates, Abbisko Therapeutics has raised $28m in a series A venture financing round from Lilly Asia ventures, Sinopharm Capital Management, Jianxin Capital and TF Capital.

Swiss drug development company Prexton Therapeutics has raised €29m ($31.2m) in a series B financing round co-led by Forbion Capital Partners and Seroba Life Sciences in order to finance two Phase II studies of its lead product Foliglurax, which is targeted at the treatment of Parkinson’s disease.

Existing investors in the company, Merck Ventures, Ysios Capital Partners and Sunstone Capital participated in the financing round.