Since Our Last Issue ...
Quest Diagnostics has completed its acquisition of Cleveland HeartLab, which allows Quest to establish a national center of excellence focused on heart disease diagnostics within Cleveland HeartLab's existing 25,000 square-foot clinical laboratory facility in Cleveland. In connection with the acquisition, Quest and Cleveland Clinic have finalized a strategic collaboration intended to speed the commercialization of emerging innovations at Cleveland Clinic, including its Lerner Research Institute. The two entities also intend to collaborate on trials to demonstrate the clinical and economic value of biomarkers.
CryoLife has completed its acquisition of Jotec AG, a German-based developer of endovascular stent grafts and cardiac/vascular surgical grafts. CryoLife manufactures, processes and distributes medical devices and implantable living tissues used in cardiac and vascular surgical procedures.
Astellas Pharma has acquired Cambridge, MA-based Mitobridge for $390 million. The acquisition option was part of a 2013 partnership to discover and develop drugs that target mitochondrial function. The most advanced program is MA-0211, which is presently in Phase 1 clinical trials for Duchenne muscular dystrophy.
The Medicines Company is selling its infectious disease business unit to Melinta Therapeutics. Under the terms of the deal, Melinta is paying $165 million in cash up front, and $55 million worth of Melinta common stock. Another $25 million in cash will be paid 12 months after closing, and another $25 million in cash at 18 months after closing. Melinta will also pay royalties on certain products.