Deals this week: OraSure Technologies, Innovative Targeting Solutions, Cloaked Therapeutics

25th August 2016 (Last Updated August 25th, 2016 18:30)

OraSure Technologies and the US Department of Health and Human Services (HHS) Office of the Assistant Secretary for Preparedness and Response’s Biomedical Advanced Research and Development Authority (BARDA) have entered a six-year multi-phased contract agreement.

OraSure Technologies and the US Department of Health and Human Services (HHS) Office of the Assistant Secretary for Preparedness and Response’s Biomedical Advanced Research and Development Authority (BARDA) have entered a six-year multi-phased contract agreement.

According to the agreement, OraSure Technologies will receive up to $16.6m from HHS including an initial payment of $7m, with the remaining sum to be paid during the evaluation of additional product enhancement and clinical and regulatory activities.

The agreement enables OraSure Technologies to advance rapid Zika tests and to complete all clinical and other activities to receive approvals for its products.

Innovative Targeting Solutions has entered a research agreement with Janssen Biotech to advance drug discovery in autoimmunity or cancer.

As part of the agreement, the two partners will jointly utilise Innovative Targeting Solutions’ proprietary HuTARG research platform to develop antibody candidates useful for modulating immune responses in autoimmunity or cancer.

The agreement enables Innovative Targeting Solutions and Janssen Biotech to further advance drug discovery.

Cloaked Therapeutics and Monvida Pharmaceuticals have entered a co-development agreement to develop TumorSelect Paclitaxel to provide improved cancer care for China and Vietnam markets.

Pursuant to the agreement, Monvida Pharma will be responsible for Chinese and Vietnamese development and commercial rights, while Cloaked Therapeutics will retain the rights in other world markets.

"Innovative Targeting Solutions has entered a research agreement with Janssen Biotech to advance drug discovery in autoimmunity or cancer."

Sophiris Bio plans to raise gross proceeds of $26m through the underwritten public offering of its 6.5m common stock shares and warrants.

The company plans to use the proceeds to fund a new clinical trial programme and development of topsalysin, as well as to increase its working capital and other general corporate purposes.

Singlera Genomics has raised $20m in a series A venture financing round. The company plans to invest the funds to expand its R&D operations and advance the development and commercialisation of its non-invasive genomic sequencing tests for cancer and other genetic diseases.

The financing round was led by Lilly Asia Ventures and co-led Green pine Capital Partners Co. Ltd, CDBI Partners and other investors.


Image: OraSure Technologies and the US Department of Health and Human Services (HHS) have entered a six-year multi-phased contract agreement. Photo: Courtesy of MBisanz.