Deals this week: Qgel, CytRx, Bod Australia
Swiss-based biomaterials company Qgel has raised $12m from existing investors in a financing round.
The proceeds will be used for accelerating the company’s expansion and broadening its product line for research in advanced drug discovery.
US-based biopharmaceutical company CytRx Corporation has announced a private placement of shares to raise $8.1m in gross proceeds that will be used partly for the pre-commercialisation / commercialisation of aldoxorubicin and partly for working capital and general corporate purposes.
The placement will include 19.2 million shares of the company’s common stock at a price of $0.42 a share. The net proceeds from the placement are estimated to be $7.4m.
Australian-based natural, evidence-based skin care and health products developer, Bod Australia, has signed an exclusive distribution agreement with Belgium-based plant-based pharmaceutical products developer, Tilman S.A.
As part of the agreement, Bod Australia will distribute Tilman’s product named Flexofytol within Australia and Asia under the former’s brand name.
Bod Australia will also hold first right of refusal on distribution of Tilman’s products throughout Australia and Asia, under the agreement.
US-based pharmaceutical company Kite Pharma has an agreement with Vitruvian Networks, a cell and gene therapy software and analytics platform company based in the US.
The two companies will develop software to support commercial availability of T-cell therapies, as part of the agreement by contributing resources and experience.
Chinese pharmaceutical company Xiangxue Pharmaceutical has announced its intention to form a joint venture (JV) in Guangzhou city with an undisclosed individual and a Guangzhou-based investment company.With a 46% stake, Xiangxue Pharmaceutical will invest ¥4.6m ($0.66m) in the new JV, which will be engaged in research and development (R&D) and production of in vitro diagnostics (IVD) products.