Deals this week: Vertos Medical, Kiadis Pharma, Oxis International

15th June 2017 (Last Updated June 15th, 2017 18:30)

Vertos Medical has closed a venture financing to raise $28m from MVM Life Science Partners, Leerink Revelation Partners, Pitango Venture Capital, ONSET Ventures and Aweida Venture Partners.

Vertos Medical has closed a venture financing to raise $28m from MVM Life Science Partners, Leerink Revelation Partners, Pitango Venture Capital, ONSET Ventures and Aweida Venture Partners.

Based in the US, Vertos Medical develops minimally invasive treatments for lumbar spinal stenosis.

Netherlands-based clinical-stage biopharmaceutical company Kiadis Pharma has raised €5m ($5.6m) in a private placement of shares.

The placement included 746,269 shares priced at €6.7 ($7.5) a share.

The investors have also been issued an equal number of five-year warrants to subscribe for 746,269 new company shares at a price of €7.7 ($8.6) a warrant.

The proceeds are intended to be used to advance the clinical development of Kiadis’ ATIR products and for general corporate purposes.

Oxis International and Altor BioScience have signed a co-development agreement for the clinical development of 61533 TriKE fusion protein, a novel protein that can be used for cancer therapies availing Oxis' tri-specific killer engager (TriKE) technology.

"Netherlands-based clinical-stage biopharmaceutical company Kiadis Pharma has raised €5m ($5.6m) in a private placement of shares."

Oxis International is a US-based immuno-oncology company, while Altor BioScience is a clinical-stage biopharmaceutical company.

InMed Pharmaceuticals and Pharmaseed have reached a mutual agreement to develop a final formulation for the former’s compound, INM-750.

Topical cannabinoid product candidate INM-750 is targeted to treat epidermolysis bullosa and used as a therapy in other dermatological and wound-healing applications.

Pharmaseed will develop the final formulation, which will be tested subsequently, while assay methods for manufacturing, stability, quality assurance and other analytical methods will eventually be developed.

InMed is a Canadian-based biopharmaceutical company focused on cannabinoid-based drug therapies, while Pharmaseed is a pre-clinical contract organisation based in Israel.

AbbVie and Principia Biopharma have entered an agreement to develop oral immunoproteasome inhibitors.

The selective inhibitors of the immunoproteasome subunits will target autoimmunity.

The scope of the collaboration includes research and pre-clinical studies, while AbbVie will be responsible for ongoing clinical development and commercialisation of the resulting viable compounds.

Both companies involved in the transaction are biopharmaceutical firms based in the US.