MILESTONES
AngioDynamics Inc. (Queensbury, NY) plans to acquire RITA Medical Systems Inc. (Fremont, CA) for $220 million plus the assumption of approximately $3.3 million in net debt. AngioDynamics reports that the merger will create a diversified medical technology company with a broad line of access, diagnostic, and therapeutic products that enable interventional physicians and surgeons to treat peripheral vascular diseases and cancerous tumors.
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| Valeriani |
Johnson & Johnson Inc. (J&J; New Brunswick, NJ) plans to acquire cardiovascular device company Conor Medsystems Inc. (Menlo Park, CA) for approximately $1.4 billion. Nicholas J. Valeriani, J&J worldwide chairman for cardiovascular devices and diagnostics, commented, "With Conor Medsystems, we are positioned to lead the development of next-generation technologies aimed at advancing the standard of care in the treatment of coronary artery disease."
Axela Biosensors Inc. (Toronto) and Abnova Corp. (Taipei City, Taiwan) have signed an agreement to codevelop reagents and biomarker panels for use on Axela's dotLab system. Rocky Ganske, president and CEO of Axela Biosensors, called the collaboration "yet another step in Axela's continued contribution to the translation of biomarker discoveries into medical and commercially valuable assays."
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| Bates |
Paragon Intellectual Properties LLC (Charleston, WV) has attained initial commitments of $15 million in funding. The investments come primarily from private investors in West Virginia, in addition to equity stakes from two major medical device manufacturers. Paragon founder and CEO Mark C. Bates, MD, says the funding "will allow Paragon to accelerate its mission of giving hope to patients with complex medical conditions through a pioneering device development model."
