Myriad to buy cancer diagnostic technology from private company; Eurand to go private in $583 million deal. Print E-mail
By Mary Davila   
Wednesday, 08 December 2010 19:26

Below is a look at some of the headlines for companies that made news in the healthcare sector on December 8, 2010.

 

Melanoma Diagnostics Inc has agreed to sell their technology to diagnose skin cancer to Myriad Genetics, Inc. (NASDAQ:MYGN). Under the agreement, Myriad has rights to market all tests derived from the technology for upfront fees and contingent payments, depending on the success of the products. Financial terms of the transaction were not disclosed.

The Melaris test, a genetic test that assesses a person's risk of developing melanoma, is set to be marketed by Myraid.  Financial terms were not disclosed.
Shares closed at $22.00 Wednesday.


Eurand NV (NASDAQ:EURX) has agreed with privately held drugmaker Axan Holdings to be bought in a $583 million cash deal that according to various sources has said this deal significantly undervalues the company.

Axcan is offering $12 per share, a premium of 9 percent to Eurand's Tuesday close, to strengthen its pancreatic enzyme product portfolio. Axcan, which focuses on gastrointestinal diseases and disorders, has secured debt financing from BofA Merrill Lynch, Barclays Capital and RBC Capital Markets, with Goldman Sachs acting as the financial adviser to Eurand.

Eurand's board has approved the deal, expected to close in the second quarter of 2011.

Eurand shares were up 8 percent at $11.88 on Wednesday on Nasdaq.

Also Wednesday

Amicus Therapeutics (Nasdaq:FOLD), a biopharmaceutical company focused on developing treatments for rare diseases, today announced that it has been awarded a second grant from The Michael J. Fox Foundation for Parkinson's Research (MJFF) for the development of a novel, next-generation pharmacological chaperone for the treatment of Parkinson's disease.

BIOLASE Technology, Inc. (NASDAQ: BLTI), the World's leading dental laser manufacturer and distributor, today announced its new e-commerce website, the "BIOLASE Store," at www.biolasestore.com, for dentists using BIOLASE laser technology products.

Bionovo, Inc. (Nasdaq:BNVI) today announced the publication of a study demonstrating that ERb causes cancer cell growth arrest by inactivating critical genes and enzymes responsible for cell growth.

Casey Container Corp. (OTCBB: CSEY) today announced that it has received its first international purchase order from a bottled water company based in the Island Nation of Grenada -- representing the third order in less than two weeks.

CareFusion (NYSE:CFN), a leading, global medical device company, today announced the launch of Verso™ 90 adapter, a component that enables uninterrupted access to a ventilated patient's airway without having to disconnect the patient from the ventilator.

China Cord Blood Corporation (NYSE:CO) ("CCBC" or "the Company"), the first and largest cord blood banking operator in China, today announced that the Company will participate in the 29th Annual J.P. Morgan Healthcare Conference, to be held at the Westin St. Francis Hotel in San Francisco on January 10-13, 2011.

Dendreon Corporation (Nasdaq:DNDN) today announced that management will present at the 2010 Deutsche Bank BioFEST conference in Boston on December 15, 2010 at 10:30 a.m. ET.

IDenta Corp. (PINKSHEETS: IDTA) CEO Iaacov Shoham today issued a statement concerning recent activities of the company.

Gen-Probe Incorporated (Nasdaq:GPRO) announced today that the US Food and Drug Administration (FDA) has cleared for marketing the Prodesse ProAdeno™+ assay, a multiplex real-time polymerase chain reaction (PCR) in vitro diagnostic test for the qualitative detection of human adenovirus.

Martek Biosciences Corporation (Nasdaq:MATK) today announced its financial results for the fourth quarter and fiscal year ended October 31, 2010.

mPhase Technologies, Inc. (OTCBB: XDSL) said today, that it has successfully completed the technical work under the Phase 2 STTR grant awarded by the US Army for the multi-cell Smart NanoBattery.

Microholdings US, Inc. (PINKSHEETS: MCHU) an acquisition and holding company announced today that it has signed a letter of intent to purchase The Racers Edge, Inc.

MMRGlobal, Inc. (OTCBB: MMRF) ("MMR") today announced that its global online media campaign, "Invest in Your Family's Health and Financial Future," has reached more than 13 million targeted online viewers worldwide in its first week.

Pharmaceuticals Corp. (TSX VENTURE:APH) OTCQB:APCSF) (the "Company" or "ALDA") announces that it is undertaking a non-brokered private placement of up 2,000,000 units of the Company (the "Units") at a price of $0.10 per Unit for proceeds to the Company of up to $200,000.

Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) today announced it has completed a pilot clinical study to measure the feasibility of using its Onko-Sure® in vitro diagnostic (IVD) cancer test kit as a veterinary tumor marker initially for cancer detection in domestic cats.

Shrink Nanotechnologies, Inc. ("Shrink") (OTC Bulletin Board:INKN), an innovative nanotechnology company developing products and licensing opportunities in the solar energy industry, medical diagnostics and sensors and biotechnology research and development tools businesses, announced today that it has entered into a multi-year development and manufacturing agreement with EV Group, a leader in the nano-imprint lithography process development and equipment manufacturing.

Spherix Incorporated (Nasdaq:SPEX), an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis; and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today announced the signing of a multi-unit research contract between its wholly-owned subsidiary, Biospherics Incorporated, and a leading global contract research organization (CRO) to investigate the role of D-tagatose in lowering triglycerides.

Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic device company, announced today that it has acquired privately-held Pharos Life Corporation, a leading manufacturer of home-use light therapy for aesthetic procedures.



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