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In Brief This Week: Becton Dickinson; Delfi Diagnostics; OpGen; GeneDx; Angle

NEW YORK — Delfi Diagnostics this week said that the Merck Global Health Innovation Fund, the venture capital arm of Merck & Co., has invested in Delfi to help the company accelerate and expand the development of its cancer detection tests. Delfi's fragmentomics technology leverages AI to whole-genome sequencing data to assess a patient's cell-free DNA patterns and characteristics against individuals with and without cancer. Delfi declined to disclose the amount of the investment. 

Becton Dickinson announced this week that it will acquire the critical care product group Edwards Lifesciences for $4.2 billion in cash. The critical care business's portfolio includes AI-enabled clinical decision tools and hemodynamic patient monitoring using AI algorithms, which BD said will integrate with its medication management and smart connected care solutions. Based in Irvine, California, the critical care business has more than 4,500 employees and generated $900 million in revenues last year. BD expects to fund the all-cash transaction with approximately $1 billion in cash and $3.2 billion in new debt and said the transaction will be immediately accretive to revenue growth, adjusted gross margin, adjusted operating margin, and adjusted EPS. The transaction is expected to close by the end of 2024, subject to regulatory reviews and closing conditions, and the business will then operate as a separate unit within BD's medical segment. 

OpGen said this week that the Nasdaq has granted the company its request for continued listing on the exchange while OpGen tries to file its first quarter Form 10-Q with the US Securities and Exchange Commission. The Nasdaq had told the firm last week it did not meet a listing requirement because it had not filed its SEC form in a timely manner. The Nasdaq has given OpGen until July 8 to file its Form 10-Q. 

GeneDx said this week that it has started a patient access program, developed in partnership with biopharma companies, to increase access to exome sequencing for pediatric epilepsy patients. Patients must meet a number of criteria to be eligible for the program, which is available to select ordering providers immediately and will be expanded in July. 

Liquid biopsy firm Angle reported this week preliminary financial results that indicate its revenues rose 120 percent for the full fiscal year 2023 to £2.2 million ($2.8 million) compared to £1.0 million in the prior year. The firm said that it expects to record a loss of £20.1 million, or £.0773 per share, compared to a loss of £21.7 million, or £.0879 per share, a year earlier. Angle said that it ended the year with £16.2 million in cash and cash equivalents. The firm also said that it anticipates first half 2024 revenues in the range of £1.0 million to £1.3 million and that the firm will deliver strong growth during the year. 

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on 360Dx.