Deals this week: Athenex, PapGene, Ironwood Pharmaceuticals

29 September 2016 (Last Updated September 29th, 2016 18:30)

Athenex and SunGen Pharma have entered an agreement to form a joint venture to market their value products in the US.

Athenex and SunGen Pharma have entered an agreement to form a joint venture to market their value products in the US.

According to the agreement, the newly formed joint venture company will be the marketing and sales arm of SunGen Pharma in the US and will be responsible for marketing the Athenex pipeline products.

The agreement enables Athenex to launch its new products in the US market.

PapGene and National Cancer Institute have entered a fast-track, small business innovation research contract to develop a new test to identify recurrent bladder cancer.

"PapGene and National Cancer Institute have entered a fast-track, small business innovation research contract to develop a new test to identify recurrent bladder cancer."

According to the agreement, the funding for the contract will be provided in two phases to demonstrate the accuracy and clinical utility of the test, as well as for its commercialisation.

The agreement enables PapGene to commercially develop a test to identify recurrent bladder cancer.

Ironwood Pharmaceuticals has completed debt refinancing by raising $150 million through 8.375% notes, due September 2026. The offering has been subscribed to by institutional investors affiliated with TSSP.

The company will use the funds to pay the remaining balance of Linaclotide PhaRMASM 11% notes, due 2024.

EPS Holdings plans to raise $405 million through the private placement of 3,500 shares of its common stock.

Suzuken Co. will subscribe to the shares to become a 35% stake holder in EPS Holdings.

MicuRx Pharmaceuticals has raised gross proceeds of $55 million in a series C financing led by GP Healthcare Capital along with GP TMT Capital limited, 3E Bioventures Capital and Delian Capital.

The company plans to invest the funds for the development of MRX-I within the US and China markets.