AngioDynamics, an innovative medical devices provider, has signed an upfront USD 46 Million deal to acquire Eximo Medical.
AngioDynamics is a leading player in manufacturing medical devices for vascular access, peripheral vascular disease, and oncology. The acquisition of Eximo Medical will increase the portfolio of AngioDynamics by adding Eximo’s proprietary 355nm wavelength laser technology, which has received 510(k) clearance for use in the Peripheral Artery Disease (PAD) treatment.
The survey released by the companies revealed that over 2,00,000 Americans suffering from PAD receiving atherectomy treatment get benefitted from Eximo’s laser technology. With the deal, AngioDynamics is all set to enter into a versatile USD 500 Million markets of innovating and latest medical devices.
Approximately 8.5 million people in the United States have PAD, including 12-20% of individuals older than age 60, according to CDC.
The deal is done all through cash on hand with up to USD 20 Million of contingency payments on achieving technical and revenue related milestones totalling the deal to USD 66 Million.
MiroBio, UK-based therapeutics, has raised USD 33 Million in the first round of financing to fuel its pipeline for autoimmune and inflammatory disorders.
The funds will be used to support research into immune cell regulation and develop antibodies to treat autoimmune diseases by stimulating specific immune cell signals. It will help the company to expand its horizon in an approach it is working to treat autoimmune diseases, i.e., antibody modulators of immune cell receptors, an approach that has potential across a range of diseases, with an initial focus on auto-immune disease.
The financing round was co-led by Oxford Sciences Innovation and Samsara Biocapital along with life science investors Advent Life Sciences and SR One.
At present, 50 million Americans are living with a type of Autoimmune Disease. As per records of NIH, the organization has spent USD 591 million dollars on Autoimmune Disease research compared to the USD 6.1 billion spent on cancer.
Janssen Pharmaceuticals has submitted a supplemental Biologics License Application (sBLA) to the FDA for the approval of its STELARA (ustekinumab) to treat moderate to severe plaque psoriasis in the paediatric population.
Sterlara is the only biologic drug which targets and blocks both the cytokines interleukin (IL)-12 and IL-23. These cytokine interleukins play a significant role in inflammation-related with auto-immune conditions, such as PsO.
Currently, the drug is approved for the treatment of adolescents and adults living with moderate to severe plaque psoriasis (ages 12+), adults with active psoriatic arthritis, adults with moderate to severe Crohn's disease and adults with moderate to severe ulcerative colitis in the EU and other countries.
According to the National Psoriasis Foundation (NPF), more than 8 million Americans have psoriasis. Plaque psoriasis is the most common form of the disease, affecting 80 per cent of those with psoriasis.
Major players such as Bristol-Myers Squibb, Dermavant Sciences GmbH, Arcutis, Inc., Avillion LLP are involved in developing therapies for the treatment and management of Plaque Psoriasis. These therapies are currently under different stages of development.