Hedge fund ValueAct revealed that it is the largest investor in British conglomerate the Smiths Group. It's expected to pursue a sale of that company's medical device business, Smiths Medical, as well as for its industrial process arm known as John Crane, according to a report from The Financial Times.
Having an edge in cardiac monitoring tech can translate into sales of interventional cardiac devices down the line. That's a strategy that med tech behemoth Medtronic is adhering to, as is its competitor Boston Scientific. The latter has disclosed a partnership with Preventice Solutions to exclusively market its cardiology-related diagnostic and monitoring products worldwide, although financial details weren't released.
Northwestern University announced that it has received a five-year, $17.5 million grant from the National Institutes of Health to study an implantable drug delivery system for the prevention of HIV. It's the latest application of drug delivery to solve the classic medical problem of adherence by developing a device that releases medication in a continuous and controlled manner for up to one year.
Emergent BioSolutions has launched a military-grade intramuscular autoinjector device for self-administered antidotes or other chemical threat treatments. For now, the rollout is only ex-U.S., but the infectious disease specialist said it will seek FDA approval for the device, dubbed Emergard.
Sorrento Therapeutics, among many companies in the orbit of billionaire entrepreneur Patrick Soon-Shiong, is looking to take a spot in the growing market for knockoffs of the world's top-selling biotech medicines.
AstraZeneca is widening its long-standing relationship with Isis Pharmaceuticals, betting on the company's proprietary approach to RNA-targeted therapies in hopes of expanding its early-stage pipeline.
U.S.-based biotech Tesaro has in-licensed rights to its candidate to treat nausea in chemotherapy victims to China's Jiangsu Hengrui Medicine as it looks ahead to a pending review decision by the U.S. FDA.
China's ZAI Lab has in-licensed a novel multi-kinase inhibitor aimed at a non-small cell lung cancer candidate from Sanofi as the firm led by well-known biotech executive Samantha Du builds its on deep Greater China trial and regulatory experience.
Ariad Pharmaceuticals has inked a deal with PDL BioPharma, trading a long-term royalty on its only marketed drug in exchange for money to develop another.
Boehringer Ingelheim has agreed to hand over as much as $730 million to South Korean drugmaker Hanmi Pharmaceutical in exchange for the rights to a midstage treatment for lung cancer, betting the drug can stand out in a crowded field.