BUSINESS INSIGHTS, VIEWS AND ANALYSIS
Biodex Medical Systems | November 30, 2022
Mirion Technologies, Inc. announced that it has entered into a definitive agreement to sell the physical medicine assets of Biodex Medical Systems, Inc. to Salona Global Medical Device Corporation for $5 million in cash at closing and up to an additional $3 million in deferred cash payments. The deferred cash payments are contingent on the performance of the assets during the 12-month period following closing. The assets generated approximately $18 million in revenue with estimated gross margins of 30% during the most recent trailing twelve-month period.
“Divesting the physical medicine assets of Biodex enables Mirion Medical to focus on our strategic priorities and better aligns the group with Mirion’s mission of harnessing our unrivaled knowledge of ionizing radiation for the greater good of humanity. We are pleased to see the physical medicine business in the hands of an owner whose core mission and strategy is better aligned with investing in the future of the product line and finding valued employees the right home for their skills and contributions,”
Mike Rossi, President of Mirion Medical
Mirion Technologies is a leading provider of detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets. The organization aims to harness its unrivaled knowledge of ionizing radiation for the greater good of humanity. Many of the company's end markets are characterized by the need to meet rigorous regulatory standards, design qualifications and operating requirements. Headquartered in Atlanta (GA – USA), Mirion employs around 2,800 people and operates in 13 countries.
About Biodex Medical Systems
Biodex Medical Systems, Inc. is part of Mirion Medical, Inc., a group of healthcare-focused brands within Mirion Technologies. Mirion Technologies, Inc. uses science and technology to drive treatment innovation across physical medicine, nuclear medicine and medical imaging categories. With a history of manufacturing and engineering excellence that spans more than 60 years, the Biodex™ mission is to provide innovative solutions and customer-driven support to medical facilities and wellness centers around the globe.
SmartSkin Technologies and PDA | October 06, 2022
SmartSkin Technologies and Parenteral Drug Association, Inc. announced a partnership to integrate SmartSkin’s data collection technologies with PDA’s aseptic processing and visual inspection training.
SmartSkin is recognized by leading pharmaceutical brands as an innovator. Its technology helps the industry adapt faster and improve production quality by providing timely data from the container’s perspective inside the production process — from the washer to warehousing. This previously unavailable information enables data-driven decisions, improving efficiency, lowering costs, and reducing waste.
Built on a reputation of scientifically reliable and compliant industry best practices, PDA's hands-on aseptic processing and visual inspection training courses provide new and experienced pharmaceutical professionals with practical information and implementable solutions related to these critical manufacturing operations.
“PDA’s training curriculum is widely acknowledged as the gold standard for the pharmaceutical industry. We have been working closely with them for the past several months and are thrilled to have our technology included as part of their training. We have been working hard to understand all aspects of sterile products, aseptic processing, and how to improve quality in pharmaceutical manufacturing. PDA training will ensure industry professionals understand what is now possible.”
SmartSkin CEO, Evan Justason
“We are always looking to integrate new technologies into our training courses to provide meaningful hands-on experience to our attendees. Smartskin’s technology to protect the integrity of containers across the fill-finish process will enhance the aseptic processing and visual inspection training courses, making them even more unique and valuable,” said PDA VP of Education, David Talmage.
SmartSkin discussed manufacturing and quality assurance issues at the 2022 PDA/FDA Joint Regulatory Conference in Washington earlier this month and showcased its latest product innovations to PDA and FDA members. SmartSkin will also be attending the upcoming PDA Universe of Pre-Filled Syringes and Injection Devices show in Palm Springs, CA, October 18-19.
The Parenteral Drug Association (PDA) is the leading global provider of science, technology, and regulatory information. The PDA creates awareness and understanding of important issues facing the pharmaceutical and biopharmaceutical community and delivers high-quality, relevant education to the industry. Since its founding in 1946 as a nonprofit organization, PDA has been committed to developing scientifically sound, practical technical information and expertise to advance pharmaceutical/biopharmaceutical manufacturing science and regulation, so members can better serve patients.
About SmartSkin Technologies
SmartSkin Technologies, Inc. is based in Fredericton, New Brunswick, Canada. The company’s patented Quantifeel™ solutions fuse innovative sensors, deep analytics and artificial intelligence to provide global manufacturers with actionable data on the forces their containers experience during the filling and packaging process. By identifying previously undetectable adverse or abnormal operating conditions, workers are able to better control the process, preventing product defects and costly downtime. SmartSkin’s technology is in use around the world and has earned a reputation as a world leader in IIoT productivity solutions across multiple industries. SmartSkin was honored with the “Best Manufacturing Innovation” at the 2020 PharmaPack Awards in Paris.
Telix Pharmaceuticals Limited | November 23, 2022
Telix Pharmaceuticals Limited announces Illuccix® with up to 50mCi for radiolabeling is available for use on 100mCi gallium generators, an important development in radioisotope production.
High activity generators from Eckert & Ziegler Strahlen- und Medizintechnik AG increase activity from 50mCi to 100mCi and will be integral to expanding patient access to gallium-based radiopharmaceuticals as demand for PSMA-PET imaging in the United States continues to grow. This technology increases the number of daily elutions and activity in each elution, enabling hospitals and radiopharmacies to increase the number of daily doses produced, expand their service area and gain greater production efficiency.
"As the only commercially available kit that can take advantage of high activity generators for up to 50mCi radiolabeling, Illuccix gives hospitals, pharmacies, and physicians added confidence that their dose scheduling needs – and the needs of their patients – can be met today and in the future as the potential of 68Ga PSMA-11 is realized in the diagnostic market. We are pleased to continue our collaborative relationships with IRE ELiT and EZAG to continue to make 68Ga PSMA-11 accessible and convenient to use for customers across the United States."
Dr. Christian Behrenbruch, Group CEO and Managing Director of Telix
Jay Simon, Managing Director of Eckert and Ziegler North America said, "The high activity GalliaPharm® generator may allow for broader availability and expanded service areas. It is about delivering doses when and where they are needed, whether you're a remotely located clinic, a busy metropolitan hospital or a pharmacy. We are pleased to be working with Telix to harness this innovation to maximize the efficiency for our customers and ultimately, their patients."
Jean Bonnet, Head of Sales, Strategy and Marketing at IRE Group said, "While current generator technology is sufficient to meet today's demands, the rollout of the higher activity 100mCi generators are future-proofing the ability to meet demand in a market which is growing exponentially. The use of high activity generators has the potential to increase daily elutions and increase the activity in each elution. When radiolabeled up to 50mCi with Illuccix, the result could potentially provide more flexibilitty in meeting the growing demand for 68Ga radiopharmaceuticals while giving customers the benefit of greater dose scheduling flexibility and efficient production."
About Telix Pharmaceuticals Limited
Telix is a biopharmaceutical company focused on the development and commercialisation of diagnostic and therapeutic radiopharmaceuticals. Telix is headquartered in Melbourne, Australia with international operations in the United States, Europe (Belgium and Switzerland), and Japan. Telix is developing a portfolio of clinical-stage products that aims to address significant unmet medical need in oncology and rare diseases. Telix is listed on the Australian Securities Exchange.
Everest Medicines | September 19, 2022
Everest Medicines a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products to address critical unmet needs in Asia Pacific markets, announced that it has appointed Rogers Yongqing Luo as Chief Executive Officer of the Company, effective immediately. Mr. Luo will also serve as an Executive Director on Everest's Board of Directors.
Mr. Luo brings to Everest more than 25 years of experience in the healthcare industry with an extensive leadership track record across clinical development, regulatory affairs and commercialization. Previously, Mr. Luo served as President and General Manager, Greater China at Brii Biosciences and CEO of TSB Therapeutics where he spearheaded the rapid registration approval, GMP certification and successful commercialization of the amubarvimab/romlusevimab combination, the first COVID-19 neutralizing antibody treatment in China. Prior to that, he was Global Vice President and China General Manager at Gilead Sciences where he led the clinical development, regulatory approval and successful commercial launch of eight innovative therapeutics, and efforts that rapidly expanded patient access across China. Mr. Luo previously oversaw the successful launch of several high-profile medicines. He managed sales, marketing, government affairs and market access functions for various leading multinational pharmaceutical companies including Roche and Novartis, and worked two years at Novartis headquarter in Switzerland.
"As Everest Medicines continues to evolve our business strategy and expand our novel product pipeline at a rapid pace, we are thrilled to have Rogers join the Company to lead Everest through its next phase of growth in becoming a fully-integrated biopharma company in China. With his robust background as a top executive at both biotech startup and large multinational pharma companies, Rogers brings to Everest a unique set of expertise including comprehensive scientific insight, proven outstanding leadership and excellent commercialization capabilities in patient access, and a demonstrated history of successfully advancing early- and late-stage innovative pipeline to commercial launch in Greater China. In particular, Rogers' leadership will strengthen Everest's new product development and commercial capabilities as we progress toward potential approvals of our late-stage anchor product candidates, including Nefecon, Xerava, etrasimod and mRNA vaccines. We look forward to leveraging Rogers' leadership and industry expertise to generate long-term growth and success across the business."
Mr. Wei Fu, Chairman of Everest Medicines and Chief Executive Officer of CBC Group
"I'm very excited to join Everest and I look forward to working with this talented, world-class team of scientists and industry professionals to further the Company's industry leadership. We will continue to advance our late-stage pipeline towards commercialization and with our strong balance sheet, we aim to execute synergistic business development deals to accelerate our path to become an integrated biopharma," said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. "We will continue to invest into our discovery platform to build an innovative therapeutic pipeline for the benefit of patients with unmet needs in Greater China and other Asia Pacific markets, and to create sustained, long-term value for our shareholders."
About Everest Medicines
Everest Medicines is a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in Asian markets. The management team of Everest Medicines has deep expertise and an extensive track record of high-quality clinical development, regulatory affairs, CMC, business development and operations both in China and with leading global pharmaceutical companies. Everest Medicines has built a portfolio of potentially global first-in-class or best-in-class molecules, many of which are in late-stage clinical development. The Company's therapeutic areas of interest include oncology, autoimmune disorders, cardio-renal diseases and infectious diseases.