Kindeva Drug Delivery announced today that it acquired Summit Biosciences, an intranasal drug-delivery company. Summit, a drug delivery CDMO, brings a track record of innovation in the unit dose nasal spray market. Kindeva believes the acquisition enhances its existing drug delivery capabilities by adding a new platform. This new platform enhances its ability to serve […]
Mergers & Acquisitions
Report: There’s still ‘mutual interest’ with EOFlow, Medtronic despite deal falling through
Business Korea reports that EOFlow CEO Kim Jae-jin is leaving the door open with regard to the company’s collapsed deal with Medtronic (NYSE:MDT). Medtronic announced this week that it terminated its $738 million agreement to acquire EOFlow, a maker of insulin patch pumps. The medtech giant cited “multiple breaches” of terms in the agreement as […]
Medtronic nixes $738M deal for insulin patch pump maker EOFlow
Medtronic (NYSE:MDT) filed a Form 8K with the SEC today stating that it terminated its agreement to buy EOFlow. The medtech giant struck a $738 million deal to acquire the Seongnam, South Korea-based insulin patch pump maker in May. EOFlow develops the EOPatch — a tubeless, wearable and fully disposable insulin delivery device. Medtronic’s SEC filing […]
Laborie acquires drug-coated balloon maker Urotronic
Laborie Medical Technologies announced today that it completed the acquisition of drug-coated balloon developer Urotronic. The companies struck an agreement last month for Laborie to buy Urotronic for up to $600 million. Urotronic developed the Optilume DCB used in interventional urology procedures. It treats urethral strictures and benign prostatic hyperplasia (BPH) or enlarged prostate conditions. […]
Novo Nordisk acquires all shares of drug delivery device maker Biocorp
Novo Nordisk today officially acquired 100% of the shares of Biocorp, the France-based drug delivery device maker’s CEO announced. Biocorp designs, develops and manufactures drug delivery systems and medical devices. Its offerings include Mallya, a Bluetooth-enabled smart add-on device for pen injectors. The Mallya smart sensor attaches directly to insulin pen injectors to make them […]
Cordis acquires drug-eluting balloon maker MedAlliance for up to $1.135B
MedAlliance announced today that Cordis acquired it for a total consideration that could reach up to $1.135 billion. The companies initially announced the planned deal in October of last year. Cordis, which develops interventional cardiovascular and endovascular technologies, made a $35 million investment last year. Its upfront closing payment totals $200 million, with achievement milestones […]
Abbott completes Bigfoot Biomedical acquisition
Abbott (NYSE:ABT) announced today that it completed its previously announced acquisition of Bigfoot Biomedical. Pursuant to the terms of the merger agreement, upon completion, Bigfoot became a wholly-owned subsidiary of Abbott. The companies declined to disclose financial terms. Abbott announced on Sept. 5 that it entered into a definitive agreement to acquire the smart insulin management […]
Bausch+Lomb launches $1.4B offering to finance XIIDRA eye drop buy
Bausch + Lomb (NYSE:BLCO) announced today that it launched an offering worth $1.4 billion in new senior secured notes. The company intends to offer the notes, due 2028, and to enter into an incremental term loan facility. Both moves aim to support the financing of the company’s pending acquisition of XIIDRA. Bausch + Lomb expects […]
Abbott to acquire insulin management company Bigfoot Biomedical
Abbott (NYSE:ABT) announced today that it entered into a definitive agreement to acquire smart insulin management company Bigfoot Biomedical. The transaction remains subject to customary closing conditions and the companies declined to disclose financial terms. They expect it to close in the third quarter of 2023. Abbott has a longstanding relationship with Bigfoot going back […]
GLP-1 startup i2o looks to revive diabetes drug-eluting implant from Intarcia
i2o Therapeutics says it acquired the diabetes-treating assets of one-time medtech unicorn Intarcia Therapeutics. The Boston-based company acquired and integrated Intarcia’s proprietary assets and made a big personnel move. With CEO Ravi Srinivasan moving onto other opportunities, i2o named Kurt Graves as chair, president and CEO. Graves previously served as executive chair of the i2o […]