Liquid Wire

In July 2020, Liquid Wire announced a Series A round financing of $10 million. The Company is focused on developing and manufacturing flexible wiring and components to enable electronic circuitry in wearables to be used in multiple healthcare applications, as well as industrial (including safety). These applications typically involve dynamic environmental forces, such as changing temperature, movement, and humidity while maintaining reliable and consistent conductivity.

Meditrina

In June 2020, Meditrina, Inc. announced a $20 million tranched Series C financing round. The Company is commercializing innovative medical devices for minimally invasive gynecologic procedures, offering patients and physicians more advanced, convenient, and cost-effective options.

ARTMS

In May 2020, ARTMS announced a Series A round financing of $19 million. ARTMS develops and commercializes diagnostic imaging isotopes, utilizing hospital and other medical cyclotrons. The Company’s technology enables cost-effective, decentralized, and local production of medical isotopes.

LetsGetChecked

In May 2020, LetsGetChecked announced a Series C round financing of $70 million. LetsGetChecked is a health insights company that allows consumers direct access to a wide range of testing options and clinical services from home. By combining health data and diagnostic results, LetsGetChecked provides rich health insights to enable better healthcare decision-making, empowering people to take an active role in their health.

Deerfielders Weigh in on a Safe Return to Work Policy Amid Covid-19 Crisis

Antibody testing provides a data-driven path to getting people back into the economy

The availability of point of care antibody testing—also known as serological testing—may provide a feasible roadmap for getting people back to work safely following the COVID-19 crisis, according to an editorial published in the journal Contemporary Clinical Trials Communications.

“You can’t stop the economy forever,” asserted Governor Cuomo in a recent news conference, according to STAT. “So we have to start to think about, does everyone stay out of work? Should young people go back to work sooner? Can we test for those who had the virus, resolved, and are now immune, and can they start to go back to work?”

Regardless of whether they already have immunity to the virus, millions of Americans may try to return to work, potentially undoing all the benefits of the shutdown, suggests the editorial. 

Antibody testing, the authors argue, could clarify a person’s status quickly in real-time and reveal whether they have been exposed to COVID-19. Accordingly, a person who mounts an IgG positive response (suggesting the presence of immunoglobulin G antibodies) would most likely now be immune to the virus and an IgM positive result would point to the process of developing immunity in someone who more recently became infected.

“Unlike the PCR tests (a measure of virus material), the immediate results and unconstrained supply of antibody tests could fundamentally change the way we manage this epidemic,” says Robert Jackson, MD, a co-author of the paper. “And from an economic perspective, it could lead to a tractable path for people to return to work. Collecting the data and tracking individuals longitudinally, in order to confirm the hypothesis, will be necessary.”

And barring any HIPAA concerns, the authors propose that persons with positive antibody tests during periods of social distancing could get a bracelet, which indicates that they are immune-protected and can return to work. Those without a bracelet would still be asked to practice social-distancing and not yet resume their normal activities. But this approach could potentially get at least some portion of the economy back running again, suggests the authors.

According to the authors, the antibody tests are cheap, easy to administer, and could be made available at every hospital.

“Broad testing is in society’s best interest,” says Alex Karnal, a co-author of the editorial. “Until we make serological tests available in a robust way, it’s as if we are flying a plane without navigation.”

Authors of the editorial, titled, “Let’s Get Americans Back to Work Again,” are: Alex Karnal, Partner and Managing Director; Robert Jackson, MD, Partner and Chief Science Officer; and Joe Pearlberg, MD, PhD, Vice President of Scientific Affairs, all at Deerfield; and Amitabh Chandra, PhD, McCance Family Professor at Harvard Business School and Weiner Professor at the Harvard Kennedy School.

Element Science

In March 2020, Element Science announced that it had raised a $145.6 million Series C financing. The Company is a health technology company pioneering a next-generation digital wearable platform focused on high-risk cardiovascular patients transitioning from the hospital-to-home.

Cathworks

In February 2019, Cathworks announced a $30 million Series B financing led by Deerfield. CathWorks is a medical technology company focused on applying its advanced computational science platform to optimize prophylactic cranial irradiation therapy decisions and elevate coronary angiography from visual assessment to an objective fractional flow reserve-based decision-making tool for physicians.

Epic Sciences

In September 2018, Epic Sciences announced a $52 million Series C financing in which Deerfield participated. The Company is developing novel diagnostics to personalize and advance the treatment and management of cancer. Epic Sciences’ mission is to enable the rapid and non-invasive detection of genetic and molecular changes in cancer throughout a patient’s journey.

Trinity Biotech

Trinity Biotech plc develops, manufactures and markets clinical diagnostic test kits used in clinical laboratories and point-of-care. The products include tests for infectious disease, sexually transmitted diseases, autoimmune and haemoglobin disorders.

Deerfield Completes $20.5 Million Financing in Pacific Biosciences

MENLO PARK, Calif., Feb. 5, 2013 (GLOBE NEWSWIRE) — Pacific Biosciences of California, Inc. (Nasdaq:PACB), provider of the PacBio® RS High Resolution Genetic Analyzer, today announced that it has entered into an agreement with entities affiliated with Deerfield Management Company, L.P. (Deerfield), a leading healthcare investment organization and significant Pacific Biosciences stockholder, pursuant to which Deerfield provided Pacific Biosciences with $20.5 million in debt financing.

“We are pleased that Deerfield, one of our largest shareholders, appreciates the potential in our business and is continuing to support us through this funding commitment,” stated Mike Hunkapiller, Chairman and CEO of Pacific Biosciences. “We believe this financing puts us in a stronger position to continue to drive the adoption of our Single Molecule, Real-Time (SMRT®) Sequencing technology and products.”

Under the terms of the agreement, Pacific Biosciences issued senior secured promissory notes in the aggregate principal amount of $20.5 million. The notes, which have a maximum seven year term, will accrue interest at a rate of 8.75% per annum, payable quarterly in arrears. In addition, Pacific Biosciences issued Deerfield seven year warrants to purchase 5.5 million shares of its common stock with an exercise price of $2.63 per share.  Deerfield received a transaction fee of $0.5 million at the time of funding. For additional information on the terms of these agreements, please refer to the current report on Form 8-K that Pacific Biosciences filed with the Securities and Exchange Commission, which includes copies of the agreements related to this transaction and this press release as exhibits.

“As long-term equity holders, we continue to believe that Pacific Biosciences’ SMRT Sequencing technology brings unique value to biological research,” commented James Flynn, General Partner at Deerfield. “We believe that Pacific Biosciences’ products can have a significant impact on human health, and Deerfield is pleased to support the company in achieving that goal.”

This announcement is neither an offer to sell nor a solicitation to buy any of the foregoing securities, nor shall there be any offer, solicitation or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The securities have not been registered under the Securities Act of 1933, as amended (Securities Act) or any state securities laws, and may not be offered or sold in the United States absent registration or the availability of an exemption from the registration requirements of the Securities Act and applicable state securities laws.

For more information, please visit www.pacb.com.

About Pacific Biosciences

Pacific Biosciences of California, Inc. (Nasdaq:PACB) offers the PacBio® RS High Resolution Genetic Analyzer to help scientists solve genetically complex problems. Based on its novel Single Molecule, Real-Time (SMRT®) technology, the company’s products enable: targeted sequencing to more comprehensively characterize genetic variations; de novo genome assembly to more fully identify, annotate and decipher genomic structures; and DNA base modification identification to help characterize epigenetic regulation and DNA damage. By providing access to information that was previously inaccessible, Pacific Biosciences enables scientists to increase their understanding of biological systems.

About Deerfield

Deerfield is a leading investment management firm, committed to advancing healthcare through investment, information and philanthropy.

For more information, please visit www.deerfield.com

Forward-Looking Statements

This press release contains forward-looking statements relating to Pacific Biosciences’ business, including its future prospects, expected use of the proceeds of the debt financing, ability to drive adoption of its Single Molecule, Real-Time (SMRT®) Sequencing technology and products, and the value and impact its products may have on biological research and human health. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Pacific Biosciences’ control and that could cause actual outcomes to differ materially from those in the forward-looking statements. Factors that could materially affect actual outcomes can be found in Pacific Biosciences’ filings with the Securities and Exchange Commission, including the most recently filed Quarterly Report on Form 10-Q, including those listed under the caption “Risk Factors.” Pacific Biosciences expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

Pacific Biosciences
Trevin Rard
Pacific Biosciences
650.521.8450