Tiger X Medical has entered a definitive agreement with Bio Cardia, a regenerative biologics company.

The acquirer company specialises in orthopaedic medical devices, whereas the target company deals with cardiovascular therapies.

According to the agreement, Tiger X Medical will merge with BioCardia to form a new combined entity, which will carry the name BioCardia and will support the ongoing phase III heart failure trial, and commercialisation and development of other product candidates.

The transaction enables the two companies to further develop CardiAMP cell therapy systems for the treatment of heart failure.

"Shanghai Kaibao Pharma has also agreed to invest $3m in the target company."

Shanghai Kaibao Pharmaceutical Co. Ltd has announced it will acquire a 25% stake in an unrevealed biotechnology company based in Shanghai, China.

Shanghai Kaibao Pharma has also agreed to invest $3m in the target company.

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ProMetic Life Sciences, a biopharmaceutical company, has entered a binding agreement with another biopharmaceutical company, Telesta Therapeutics.

The former company will acquire all of the share capital of Telesta Therapeutics at a price of $0.108 a share, as part of the agreement. The offer, which is payable in common shares, is expected to be completed by November 2016.

The acquisition will enable the acquirer to be flexible with its vertical integration efforts.