Cambridge Heart Inc. (OTC:CAMH) plans to bring its HearTwave II Microvolt T-Wave Alternans (MTWA) test for sudden cardiac arrest to Singapore through an exclusive distribution deal with EO Medical Pte Ltd.
The deal hinges on the MTWA device winning regulatory approval in Singapore, which the Tewksbury, Mass.-based company expects within the next 6 to 9 months.
The company also expanded its international scope through a distribution deal with Mayerick S.A. de S.V. to distribute the MWTA system in Mexico earlier this month.
The company also landed a much-needed U.S. reimbursement win for its MTWA test for sudden cardiac arrest in June, good news for the company following a rough start to the year.
In April, Cambridge Heart warned that it didn’t have enough cash to stay afloat past the end of the year and registered for a stock offering worth more than $7.8 million. The company plans to sell nearly 30.2 million shares for 26 cents apiece, according to the filing.
Here’s a roundup of companies announcing new distribution deals and other joint ventures.
- Cardica lands $2 million on satisfying milestone with MicroCutter stapling device
Cardica Inc. (NSDQ:CRDC) announced that it drew the first $2 million of a $4 million secured note purchase through Century Medical Inc. on achieving a milestone with its MicroCutter Xpress 30 laparoscopic stapling device.
"We are pleased to have achieved this milestone within two weeks after signing the original agreement," said president & CEO Dr. Bernard Hausen, M.D., Ph.D.
- Cardio3 Biosciences sets up a satellite in Minnesota
Belgian regenerative therapies company Cardio3 BioSciences set up a satellite hub in Rochester, Minn., this week.
The company’s C3BS-CQR-1 (C-Cure(R)) stem cell therapy for ischemic cardiomyopathy uses stem cell technology licensed through Mayo Clinic.
"Today is a very significant day for Cardio3 BioSciences," CEO Dr. Christian Homsy said in prepared remarks. "In establishing our US subsidiary in Rochester, we are reinforcing our historical link with Mayo Clinic and strengthening our U.S. presence before the start of the Phase III trials of C-Cure. "