Deals this week: Exact Sciences Corporation, Egalet Corporation, Tisbury Pharmaceuticals
US-based Exact Sciences Corporation intends to raise $245m in gross proceeds through a public offering of its common stock shares.
The offering includes seven million shares priced at $35 a share, while underwriters have an option to purchase up to an additional 1.05 million shares.
The proceeds will be used to mainly expand the commercialisation activities of Cologuard, a non-invasive, colon cancer at-home test. Part of the proceeds will also be used for product development and for general corporate and working capital purposes.
US-based pharmaceutical company Egalet Corporation and Ascend Therapeutics US have signed a two-year co-promotion agreement for SPRIX (ketorolac tromethamine), a nasal spray used for management of moderate-to-moderately severe pain.
Ascend Therapeutics’ team will help co-promote the product as part of the agreement, starting from this year's third quarter.
Israeli-based Tisbury Pharmaceuticals has announced its completion of the first round of venture financing to raise $32m from OrbiMed Advisors, Clarus Healthcap, and Pontifax.
The proceeds are intended to be used to conduct human trials and develop other glaucoma drugs.