BSX buys BPH device maker for $306M in cash, plus milestones and minority stake investment
Boston Scientific Corp. has agreed to acquire private firm Nxthera Inc., a specialist in minimally invasive treatment of benign prostatic hyperplasia (BPH), for an upfront cash payment of $306 million, followed by as much as $100 million in possible milestone payments across the next four years. Boston Scientific is currently a minority investor in Nxthera and will make a $240 million net payment at closing, with milestones of as much as $85 million. The deal is expected to close in the second quarter of 2018.
Foundation and Pfizer partner to develop tumor companion diagnostics for CGP assay
Foundation Medicine Inc. has struck up a partnership with Pfizer Inc. to develop and eventually market companion diagnostics (Cdx) for its comprehensive genomic profiling (CGP) assay, Foundationone Cdx. FDA-approved Foundationone Cdx provides genomic profiles and incorporates additional diagnostic information on solid tumors. The test detects alterations to EGFR, ALK, BRAF, ERBB2, KRAS, NRAS and BRCA1/2 genes.
Med-tech venture investment calls for creativity
SAN FRANCISCO While med-tech investment hit a low point about five to 10 years ago, venture firms are once again interested in the channel, though investments have taken on a different look than previously, according to a panel at the Redefining Early Stage Investment (RESI) meeting.