Leading real estate developer to construct new US$54 million multi-specialty hospital

MAURITIUS – Gateway Real Estate Africa (GREA), a property developer in Mauritius, has announced that it is the lead investor and developer of a new 81-bed multi-specialty hospital in Curepipe, Mauritius and a 135-bed oncology hospital in Coromandel for a total investment value of approximately US$54 million (MUR2.37 billion). The developments are to be co-promoted by London and Mauritius listed Grit Real Estate Income Group, who hold optionality to deploy funds into both projects. The construction of St Helene Artemis Hospital in Curepipe broke ground in June 2021 and it…

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Best Buy acquires Current Health for US$ 400 million as it ramps up healthcare strategy

UNITED KINGDOM – According to Best Buy’s most recent quarterly earnings, the company has spent nearly US$400 million to acquire remote patient monitoring technology vendor Current Health. Best Buy announced the all-cash acquisition of Current Health last month but did not disclose financial terms. During an earnings call this week, Current Health confirmed the valuation, which makes it Europe’s second-largest digital health exit. The medtech company, founded in Scotland in 2015 by CEO Christopher McCann and CTO Stewart Whiting, combines remote patient monitoring, telehealth, and patient engagement into a single…

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Kenyan e-pharmacy platform MYDAWA receives US$1.2 million funding in fight against HIV & AIDS

KENYA – MYDAWA, an e-pharmacy platform in Kenya, has been awarded a grant of US$1.2 Million from the Bill & Melinda Gates Foundation. This grant is aimed at increasing access to PrEP (Pre-Exposure Prophylaxis) services through MYDAWA’s award winning e-pharmacy model, supporting the fight against HIV& AIDS in Kenya. Approximately 38 million people around the world are living with HIV with close to 21 million of them in Eastern and Southern Africa. The stigma associated with HIV and the public nature of the current onboarding system of PrEP has been…

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Blueprint Medicines expands oncology portfolio by acquiring Lengo Therapeutics for US$465 million

USA – Blueprint Medicines, a US-based biotech that specializes in targeted cancer drugs, is set to pay US$250 million in cash and another US$215 million in potential milestone payments to acquire privately held Lengo Therapeutics. Blueprint will receive an experimental lung cancer treatment that is aimed at the same target as recently approved drugs from Johnson & Johnson and Takeda Pharmaceutical. In December, the company intends to apply to the Food and Drug Administration to begin clinical trials. Lengo’s drug has yet to be tested in humans, but it is…

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TPG targets 40% ownership stake in Dr Agarwal’s Health Care

INDIA – TPG Capital, a global private equity firm, is in advanced talks to acquire a significant minority stake in Dr Agarwal’s Health Care Limited, which owns India’s largest chain of eye care hospitals, Dr Agarwals Eye Hospital. As per the deal, TPG will likely acquire a 40 percent stake in Dr. Agarwal’s Health Care, in addition to a 32 percent stake held by current investor ADV Partners and additional major capital deployment. The deal which is said to be worth approximately $300 million (Rs. 2,200 crore) will be funded…

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Dublin-based medtech HealthBeacon aims to launch an IPO on Euronext and go public

IRELAND – HealthBeacon, an Irish medtech firm, has announced plans to raise up to €25 million (US$28.23 million) through an initial public offering (IPO) on Euronext Dublin’s growth market. This follows a €6 million (US$6.77million) investment in September by HealthBeacon to expand its global team and meet rising demand in the digital healthcare sector. It signed a multimillion-dollar deal with a US company in June and announced plans to triple its workforce over the next two years. The flagship product of HealthBeacon is a smart sharps bin that has been…

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Chinese tech giant Baidu licenses mRNA algorithm to Sanofi to optimize mRNA vaccines & therapy designs

CHINA – Chinese tech giant Baidu has announced an agreement with Sanofi, a leading biopharmaceutical company, to integrate LinearDesign, Baidu’s messenger ribonucleic acid (mRNA) design optimization platform, into Sanofi’s product design pipeline. The partnership is designed to address the storage, distribution, and efficacy challenges around mRNA vaccines. Sanofi will use the LinearDesign platform to contribute to the optimization of mRNA sequences for human therapeutic and preventive uses under the terms of the agreement. This agreement represents a significant step forward for Baidu in leveraging its computational biology expertise to optimize…

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Sanofi splashes US$180 million worth of investment in French AI startup Owkin

FRANCE – Sanofi has announced an equity investment of US$180 million in French startup Owkin, whose predictive algorithms aim to improve cancer research and development. According to company co-founder and CEO Thomas Clozel, the deal gives Sanofi a stake of between 10% and 15% in Owkin and elevates Owkin to the status of “unicorn” – a startup company valued at more than US$1 billion. Arnaud Robert, Sanofi’s chief digital officer, oversaw the transaction, which also included a partnership in which Owkin agreed to build prognostic models and help evaluate the…

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Arrowhead and GSK tie up to develop RNAi drug in a deal worth over US$1 billion

USA – Arrowhead Pharmaceuticals, a company aiming to develop drugs using RNA interference technology, has announced that it has licensed an experimental medicine for a common liver disease to GlaxoSmithKline in a deal worth more than a billion dollars. According to the terms of the agreement, GSK will pay US$120 million up front and an additional US$130 million if Arrowhead’s drug generates positive data in a mid-stage study and then advances to a late-stage trial. If the drug is approved, Arrowhead could receive up to US$780 million in additional milestone…

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Sterling Pharma Solutions ramps up manufacturing capacity with £10m investment

UNITED KINGDOM – Sterling Pharma Solutions, a contract development and manufacturing firm, has announced a £10 million (US$13.5 million) multi-year investment strategy for its Dudley, UK, facility. This latest investment, which is part of Sterling’s multi-year investment strategy at its Dudley site, will include the construction and commissioning of new process development laboratories, as well as the installation of additional commercial-scale manufacturing equipment to meet growing demand for small-molecule API manufacturing. The project, which is expected to be completed in mid-2022, includes the installation of a 4.5 cubic metre hydrogenator…

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