A prospectus was filed by New York City-based PAVmed for an offering of rights to buy up to 14.6 million units of common shares and Series Z warrants in hopes of raising almost $90 million. The proceeds will be used for research and development activities, as well to develop the company's existing pipeline.
A previously announced offering of 1% convertible senior notes due 2025 brought in $671.3 million in net proceeds for Exact Sciences, with the overallotment option fully exercised by underwriter Merrill Lynch, a filing with the SEC showed. The money will be used as working capital, as well as to support the company's general corporate functions.
Weight loss balloon maker Obalon Therapeutics announced plans to launch an offering of common stock in hopes of raising $35 million. The company also intends to grant underwriters an overallotment option to purchase an additional $5.25 million worth of shares.
Canadian firm CVR Medical and Chinese private equity firm Guangzhou LangRun Equity Investment Management signed a letter of intent to establish a joint venture for the commercialization in China of CVR's Carotid Stenotic Scan, which is designed for assessing carotid arterial health to predict ischemic stroke risk. Guangzhou LangRun, which will own 65% of the joint venture, will help fund it using capital from the LangRun Asset Fund, which it will set up to invest in senior care-focused and health care optimization-focused medical devices.
Israel-based Check-Cap has obtained CE mark approval from European regulators for its C-Scan System, which comes in the form of a pill that contains a positioning system, an X-ray source, a battery and computing components. The capsule, designed for colorectal cancer screening, provides viewing of the colon by shooting X-rays into the contrast agent swallowed by a patient, as well as through Compton scattering, and transmits imaging and location data to sensors worn by the patient.
A premarket authorization supplement was approved by the FDA extending the indications of Qiagen's Therascreen EGFR RGQ PCR kit, designed to aid in first-line treatment of metastatic non-small cell lung cancer that has EGFR mutations using Boehringer Ingelheim's Gilotrif, or afatinib. The approval is for the detection of G719X, L681Q and S7681 EGFR mutations.
Inspired by a zero-waste policy at her daughters' elementary school, Julie Corbett envisioned an environmentally friendly bottle comprising an outer shell of recycled paper and a thin, recycled plastic liner. A successful pilot test with a local dairy led to a client list including Seventh Generation and Nestle, and a new opportunity -- which Corbett almost missed -- with L'Oreal protege Seed Phytonutrients has taken her company, Ecologic Brands, to a new level of sustainability.
A robot-aided study in the journal Scientific Reports found that triclosan inhibits not just enoyl reductase but also the enzyme dihydrofolate reductase in malarial parasites. The robot, called Eve, was developed to use artificial intelligence and machine learning to run faster laboratory experiments.
The Zimbabwe Healthcare Fund will receive $502 million over three years from the Global Fund to Fight AIDS, Tuberculosis and Malaria. Most of the funding will go toward providing HIV prevention, care and support.
GC Pharma of South Korea has been granted approval by the country's Ministry of Food and Drug Safety to proceed with a Phase II/III clinical study of its Hepabig-gene recombinant hepatitis B immunoglobulin. The multi-center study will compare Hepabig-gene with current treatments for liver transplant recipients with hepatitis B.