Microbot Medical Merges with StemCells

Microbot Medical Ltd., an Israel-based medical device company that specializes in the research, design, development and commercialization of micro-robotics-assisted medical technologies, has merged with StemCells Inc. (NASDAQ: STEM), a biotech firm that engages in the research, development, and commercialization of stem cell-based therapeutics for the treatment of central nervous system diseases. For StemCells, this merger is a strategic alternative to its failed Phase 2 clinical study of human neural stem cells in chronic spinal cord injuries. The combined company will pursue the development of robotics-based medical devices for the treatment of cerebrospinal fluid and gastrointestinal... Read More »

Busy Day for Bacterial Infection Drugs

On August 23rd, two separate deals occurred involving licenses to drug candidates for the treatment of serious infections. Productos Científicos S.A. de C.V. (PC), a leading privately-held Mexican pharmaceutical company, purchased a license to Taigexyn® in Latin America from privately-held TaiGen Biotechnology Company Limited. Taigexyn® (nemonoxacin) is a novel antibiotic for the treatment of bacterial infections, including those caused by drug resistant bacteria, which has proven its efficacy in Phase I, II and III clinical studies. According to IMS Health, Latin-America’s pharmaceutical market is projected to grow 9-12% from 2016-2020, faster than the projected 3-6% in more developed... Read More »

BioClinica Changes Hands as CRO Market Heats Up

The market for contract research organizations (CROs) is hot in 2016. Fourteen deals have been announced so far this year, compared with five in all of 2015, 11 in 2014 and eight in 2013. The latest deal was announced on August 22, as JLL Partners and Water Street Healthcare Partners exited their investment in BioClinica, Inc. and the UK-based private equity firm Cinven stepped in, for an undisclosed price. The original investment for the global clinical trial management company, then trading under the NASDAQ ticker symbol BIOC, was announced on January 30, 2013, for $123 million (1.6x revenue and 11.8x EBITDA). That deal included the acquisition of medical imaging company CoreLab... Read More »

Pfizer Buys Medivation and More

Forget those early- to mid-stage clinical candidates. Pfizer Inc. (NYSE: PFE) jumped the line with its $13.5 billion deal for oncology drug maker Medivation Inc. (NASDAQ: MDVN). The target’s primary product is XTANDI® (enzalutamide), an androgen receptor inhibitor, the leading novel hormone therapy for the treatment of prostate cancer. Pfizer will pay $81.50 per share in existing cash, a 21% premium to Medivation’s closing stock price on Friday, August 19, 2016. This deal ends months of bidding for Medivation, which began in April with Sanofi SA’s $52.50 per share (about $9 billion) offer. Medivation turned down the overture, and Sanofi eventually raised its bid to $58.50... Read More »