Posts Tagged ‘Healthcare’

ASX Company News: SciGen Enters Joint Venture With Actavis Group

Tuesday, January 31st, 2012

SciGen Limited (SIE) announced that the Company has signed a Memorandum of Understanding with Actavis Group PTC ehf. for the sale of recombinant human insulin in 12 markets of the Asia-Pacific, as well as the Middle East and Africa regions. Certain Middle East and Africa markets have been recently obtained by SciGen as a result of renegotiated terms of the license agreement with Ferring S.A. The Parties have agreed that Actavis will pay to SciGen a consideration of up to EUR 1,400,000 including EUR 1,000,000 at signing of the final agreements. Both Parties expect that sales of the Insulin by Actavis into some of the markets of the Territory shall commence on the turn of 2012 and 2013. The profits from the sale of the Insulins in the Territory will be shared on an equal basis (50/50).

Actavis is part of the Actavis Group, one of the leading pharmaceutical concerns developing and manufacturing modern generic medicines. At present, the Actavis Group has a portfolio, which includes approximately 830 medicines present on the market and registered in more than 70 countries. Moreover, Actavis has a portfolio of 315 pharmaceutical products in its pipeline.  SciGen Ltd is a progressive biopharmaceutical company involved in co-developing and marketing genetically engineered biopharmaceutical products for human healthcare. SciGen focuses in the areas of gastroenterology, endocrinology, oncology, neurology and immunology. Its product portfolio includes therapeutics such as rhuman Growth Hormone, rhuman Insulin, GCSF and Interferon Alpha 2b.

www.scigenltd.com

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ASX Company News: Acuvax To Acquire Diagnostic Technology

Friday, January 27th, 2012

The Directors of Acuvax Ltd (ACU) are pleased to advise that, subject to a satisfactory outcome on due diligence, the Company has negotiated an acquisition of a sophisticated non-invasive early detection diagnostic technology. The Technology has been developed over many years by an Israel-based company and is designed to diagnose more than 200 illnesses, disorders and diseases in humans. Several clinical trials have been completed to date and the medical device product is now ready for full commercialisation. The medical device is safe, painless, non-invasive, portable, economical and clinical trials to date across numerous areas of patient health have demonstrated a compelling level of accuracy. The Technology can be used as a point-of-care first-stage screening tool able to identify specific pathologies in the general population, prior to advancing patients to appropriate confirmative diagnostic tests.

Revenues from the Technology are able to be generated from both upfront device purchases and ongoing ‘per use’ patient tests. Acuvax is poised to benefit from consolidating and controlling all aspects of the Technology including: research and development (incorporating clinical trials), intellectual property (“IP”) protection, manufacture, market positioning and pricing model flexibility. Acuvax will also negotiate distribution arrangements with parties already in talks for device orders for South Africa, Australia and parts of Asia. It is the Company’s aim to open up new markets by sourcing, vetting and securing either strategic alliances or distribution arrangements with groups that have the infrastructure, expertise, and financial and human resources necessary to maximise sales of devices and ongoing tests in their respective countries; whilst supporting those business partners and distributors with high quality production, continued product R&D and an ongoing peer-reviewed clinical trial program.

www.acuvax.com.au

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ASX Company News: Broad Investments Acquires Technology Company

Monday, January 23rd, 2012

The Board of Broad Investments Limited (BRO) is very pleased to announce it has made a further acquisition by entering into an agreement to purchase a substantial stake in a technology business. As stated is recent announcements, the Board has been conducting due diligence and pursuing numerous value-adding transactions, and is pleased to be able to reveal a further transaction which has the potential to significantly increase shareholder value. The acquired business is involved in health industry technology, although it also has potential applications beyond health services. It is currently developing a unique product for the Australian marketplace which will focus on providing greater efficiencies in patient services, while driving new business and increased income for participating health professionals. Considerable R&D and progress has been made in moving the business towards a launch date. Similar businesses have been developed in other markets internationally and have generated exceptional returns for shareholders.

The vendors of the business will sell 51% of the business to a fully owned subsidiary of Broad for 74,000,000 Broad shares at an issue price of $0.003. This means that Broad receives exposure to a business with huge potential to add value for shareholders, while being able to preserve its cash position for business development. As part of the acquisition consideration, Broad has agreed to provide additional debt funding for the development of the business through to the launch date to a maximum limit of $500,000. In addition, the vendors grant Broad the right to purchase the remaining 49% of the business for $1,500,000 payable in cash and / or shares, exercisable within three years from today’s date.

www.broadinvestments.com.au

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ASX Company News: SomnoMed Acquires Dutch Oral Appliance Company

Wednesday, January 18th, 2012

SomnoMed (SOM) announced that it has entered into an agreement to acquire the Dutch oral appliance distribution company Goedegebuure Slaaptechniek B.V. GS has seen a rapid development of its sales since the reimbursement of oral appliance treatment using the SomnoDent device was approved in Holland in January 2010. GS enjoys the exclusive support of most large insurance providers in Holland and as a result is the leading distributor of oral appliances in the Netherlands. The services of the existing Dutch senior management of GS have been retained pursuant to a five year management agreement, as part of the acquisition. GS will market and distribute the SomnoMed product range for the treatment of sleep disordered breathing in the Netherlands and will change its name to SomnoMed Goedegebuure Slaaptechniek B.V.

SomnoMed’s CEO Ralf Barschow said, “We are very excited and proud to have entered into an agreement to acquire Goedegebuure Slaaptechniek B.V., the leading distributor of oral appliances in Holland. Our partners have a long history in the quality dental laboratory industry and enjoy an excellent reputation, especially with the Dutch insurance companies.” “We are confident that our partnership will contribute to strong growth of our European business. We see the approach taken by the Dutch health insurers, reimbursing patients diagnosed with obstructive sleep apnea for the first line treatment with an oral appliance instead of CPAP, as exemplary for other countries in Europe.”

The consideration for the first 50% of the capital of GS is one million Euro, of which 250,000 Euro has been paid in cash and the balance by way of 805,664 shares in SomnoMed Limited issued at A$1.28 per share. These Shares will be voluntarily escrowed for a period of 12 months. The remaining 50% of GS will be acquired by SomnoMed over a period of 5 years in four equal annual portions commencing in April 2014. The price for these 12.5% tranches will be linked to the net profits generated by GS’s business in the Netherlands and will be payable half in cash and half in shares in SomnoMed Limited.

www.somnomed.com

http://www.traderdealer.com.au/fundamentals/som

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ASX Company News: Acuvax Acquires BioHealth Pty

Friday, December 2nd, 2011

The Directors of Acuvax Ltd (ACU) are pleased to advise that, the Company has negotiated the opportunity to secure a potential controlling ownership stake in an unlisted biopharmaceutical company, BioHealth Pty Ltd. Acuvax will in turn, assist with revenue growth, market penetration and new product development of its present platform formulation. BioHealth is focused on effective, illness-specific medicines comprised of natural non-toxic ingredients. The first of BioHealth’s products, “proVent”, has been approved and listed by the Australian Therapeutic Goods Administration (TGA) on the Australian Register of Therapeutic Goods (ARTG) as a complementary medicine with the claim: “Helps Maintain Health Respiratory Function”. BioHealth has been successfully selling the product in a limited capacity over the past two years from a modest financial base and has reached the point of moving beyond breakeven and into sustained profitability.

The Board of BioHealth believes that with the injection of capital provided by Acuvax’s shareholding along with a network in Asia that its officers can introduce, together with its own contacts in select European markets, BioHealth can achieve an increased sales rollout and quicker entry into various overseas market. Subsequent to a successful increase in its marketing and revenue program, BioHealth intends to conduct further research and development, exploring other illness- specific “healthy” medicines from the platform formulation it currently uses and other non-related products as and when new opportunities are presented. Under the terms of the acquisition Acuvax shall pay an initial $10,000 option fee which will allow for a 60 day due diligence period. Subject to a satisfactory outcome a further $178,000 is to be paid to hold 51% of the debt free biopharmaceutical organisation. Acuvax and BioHealth will use their best endeavours to progress the commercial development of BioHealth’s products which currently offer potential health benefits to the millions of Australians and tens of millions globally that are affected by respiratory complaints. The first six months following completion of the initial aspects of the transaction is set to see increased sales activities and results within Australia through pharmacies and natural health shops. BioHealth’s ongoing business plan will then be continued or accelerated further as appropriate milestones are achieved.

The Directors of Acuvax believe that the acquisition of BioHealth is a sound commercial and ethical investment which it seeks to utilise as a platform for greater expansion of its revenue base both within BioHealth’s product range and through unrelated opportunities the Company seeks out in the healthcare and life sciences market space.

www.acuvax.com.au

http://www.traderdealer.com.au/fundamentals/acu

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ASX Company News: Medical Australia Secures $1.5 million In New Contracts

Wednesday, November 23rd, 2011

Medical products and distribution company Medical Australia Limited (MLA) is pleased to announce that it has secured new product supply contracts that will add a further $1.5 million in annualised revenue in FY2012 and beyond. All contracts are new supply agreements and range from one to three years in length. They include a new product supply agreement with one of Australia’s largest private hospital operators, Healthscope, initially for period of one year (in addition to contract announced April 2011); a contract to supply IV consumables and surgical irrigation products to Epworth Private Hospital on a rolling basis; a supply agreement with Vic Ambulance to provide life saving IV consumables; a contract to supply new innovative burette technology to Concord Repatriation and General Hospital.

Product supply arrangements with Melbourne Health (17 hospitals); Austin and Repatriation Hospitals (2 hospitals); Eastern Health (3 hospitals); Saint Vincent’s and Mercy Private Group (3 hospitals), and Cabrini Health Group Network (6 hospitals). MLA has also secured smaller supply agreements with Mater South Brisbane, Princess Margaret Hospital in Western Australia, Mater North Sydney, Macquarie University Teaching Hospital, North Middlesex NHS Trust in the UK, and NSW Ambulance.

MLA’s Chief Executive Officer Mark Donnison commented: “Building our domestic supply contracts is an important growth driver for MLA and these new agreements reflect the strong organic revenue growth we are experiencing across the business. MLA’s reputation in the domestic healthcare market continues to strengthen and our reputation as a trusted product supply partner is growing. “Customers now have the confidence in MLA’s global supply chain and know that we can supply product in a timely and cost effective manner. All new contracts have been secured on terms that are acceptable to our customers and deliver sufficient margin to MLA.”

Medical Australia Limited (MLA) is a medical company engaged in the manufacture, distribution and sale of a broad range of medical devices used by healthcare facilities and critical care services in global markets. The Company is a leader in Intravenous (IV) Medication Delivery Systems, Surgical Irrigation, Suction and Oxygen Therapy, Safety Sharps Collection and Reuse Prevention and specialised Diagnostic and Laboratory Equipment. Our products are used in three broad areas of healthcare, Human Health; Biological Collection, Processing and Laboratory; and Animal Health.

www.medaust.com

http://www.traderdealer.com.au/fundamentals/mla

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ASX Company News: Cogstate Secures Another New Contract

Wednesday, November 23rd, 2011

CogState Ltd (CGS) announced that it has signed a contract with an international pharmaceutical company to participate in another phase 2b clinical trial for the treatment of Major Depressive Disorder. Under the contract, which will generate US$0.9 million of revenue for CogState over the study duration, CogState will provide its cognitive testing technology and associated services to 280 patients located in 55 sites around the world. The CogState computerized cognition testing software, and associated on-line site training materials, will be provided in 5 languages. In almost five months since 1 July 2011, CogState has signed sales contracts to the value of US$8.2 million, including the above mentioned contract. To give relevance for the large value of contracts signed since 1 July 2011, it is noted that CogState signed US$9.3 million of clinical trial contracts in the full year to 30 June 2011 – at the time, this result was CogState’s best ever result, in respect of the value of contracts signed.

CogState currently has A$9.9 million of contracted revenue that will be recognised in future periods, of which A$5.5 million is expected to be recognised in the 2012 financial year – this is

in addition to the A$3.2 million revenue recorded during the period 1 July – 31 October 2011. CogState Ltd (CGS) specialises in the development and commercialisation of rapid, computerised

tests of cognition (brain function). To date, CogState has commercialised its technology in two markets – clinical drug trials and concussion management in sport. In the clinical drug trial market, CogState technology and associated services are used by pharmaceutical and biotechnology companies to quantify the effect of drugs or other interventions on human subjects participating in clinical trials.

www.cogstate.com

http://www.traderdealer.com.au/fundamentals/cgs

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ASX Company News: Atcor Medical Secures Two New Contracts

Tuesday, October 11th, 2011

AtCor Medical (ACG), the developer and marketer of the SphygmoCor® system which measures central aortic blood pressures and arterial stiffness noninvasively, announced that it has signed two new contracts to supply SphygmoCor systems and clinical trial support services to major international pharmaceutical companies. The agreements represent a substantial contract with a new customer for AtCor and expansion of a contract with an existing customer. The total combined value of the contracts is US $1.86 million.

Duncan Ross, CEO of AtCor Medical said, “We are very pleased to sign these contracts, which provides an opportunity to work with a new client and further expand our business with an existing client. This growth of our customer base is a strong endorsement for AtCor and demonstrates both increased penetration and market adoption for measuring central aortic pressures in the pharmaceutical trials sector. To fully understand drug effects in both a population and an individual, you must measure central aortic pressures.”

AtCor Medical develops and markets products for the early detection of cardiovascular risk and management of cardiovascular disease. Its technology allows researchers and clinicians to measure central aortic blood pressure non-invasively. The company’s SphygmoCor® system visibly identifies the effects of reflected blood pressure in the central aortic pressure wave, effects which cannot be detected with standard blood pressure monitoring.

www.atcormedical.com

http://www.traderdealer.com.au/fundamentals/acg

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ASX Company News: Lemarne Corporation To Sell Malaysian Lemtronics Business

Monday, October 10th, 2011

Lemarne Corporation Limited (LMC) is pleased to advise that it has entered into an agreement to sell its Malaysian based Lemtronics business to Paramit Corporation, a US based provider of medical devices and instrument manufacturing services. The purchase price is US$20 million on a “cash free and debt free” basis and based on a normal level of net assets. 80% of the purchase price, being US$16 million, is payable to Fine Pearl on completion of the sale, with the balance of US$4 million being placed in escrow for a period of 12 months after completion as security for any warranty claims from Paramit. If there are no warranty claims during the 6 month period after completion, 50% of the amount placed in escrow would be released to Fine Pearl.  Following completion of the sale, Lemarne will no longer have any operating subsidiaries. The current intention is that most of the net sale proceeds will be distributed to Lemarne shareholders. Lemarne will then be actively exploring several future opportunities for the company.

Commenting on the proposed sale, Chairman of Lemarne Mr Brian Noxon said: “After exploring a wide range of alternatives, Lemarne’s directors are pleased to announce the agreement with Paramit Corporation. The proposed sale will enable shareholders to receive a substantial cash return when the transaction is completed.” The Share Sale Agreement (SSA) contains the terms and conditions upon which Lemarne has agreed to sell its Lemtronics business to Paramit. Set out below is a summary of the key terms of the SSA, apart from price, which is detailed in the cover announcement.  The SSA also contained representations and warranties by Lemtronics, Fine Pearl and Lemarne on the Lemtronics’ business as well as certain tax indemnities.

www.lemarne.com.au

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ASX Company News: Unilife Secures Two Year US Contract

Friday, October 7th, 2011

Unilife Corporation (UNS)  announced it has been awarded a two-year contract by Premier Purchasing Partners, L.P., the group purchasing enterprise of the Premier healthcare alliance, for the supply of its Unitract® 1mL safety syringes. Premier, Inc. is the nation’s largest healthcare alliance, helping to improve performance and providing group contracting to more than 2,500 U.S. hospitals and over 76,000 healthcare sites nationwide.

Mr. Alan Shortall, CEO of Unilife said: “Our Unitract 1mL safety syringes, which are designed for use when drawing medication from a vial or ampoule, can provide optimal protection to healthcare workers and others at risk of infection from needlestick injuries. Unitract represents the first and only known range of insulin and tuberculin syringes with automatic, operator-controlled needle retraction features that are fully integrated within the syringe. “We are delighted to have signed our first Group Purchasing Organization (GPO) contract with Premier for the sale of our Unitract 1mL syringes to U.S. healthcare facilities. In addition to being one of the largest GPOs in the U.S., Premier is also a leading national advocate for injection safety. Despite the widespread conversion of U.S. healthcare facilities to the mandatory use of needlestick prevention products, healthcare workers continue to remain at risk of harm from many types of conventional safety syringe technologies. We look forward to supporting Premier and its members to enhance the level of protection offered to U.S. healthcare workers.”

Premier is a performance improvement alliance of more than 2,500 U.S. hospitals and 76,000-plus other healthcare sites using the power of collaboration to lead the transformation to high quality, cost-effective care. Owned by hospitals, health systems and other providers, Premier maintains the nation’s most comprehensive repository of clinical, financial and outcomes information and operates a leading healthcare purchasing network. Unilife Corporation (UNS) is a U.S.-based developer, manufacturer and supplier of advanced drug delivery systems with state-of-the-art facilities in Pennsylvania. Established in 2002, Unilife works with pharmaceutical and biotechnology companies seeking innovative devices for use with their parenteral drugs and vaccines. Unilife has developed a broad, differentiated proprietary portfolio of its own injectable drug delivery products, including the Unifill and Unitract product lines of safety syringes with automatic, operator controlled needle retraction. Unifill represents the world’s first prefilled syringe technology integrating safety within the primary drug container. The products are ideally positioned to help pharmaceutical companies maximize the lifecycle of their injectable drugs and enhance patient care.

www.unilife.com

http://www.traderdealer.com.au/fundamentals/uns

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