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July 16, 2014
07:37 EDTNAVBNavidea forms joint enterprise with Rheumco
Navidea announced that it has formed a joint enterprise with Essex Woodlands-backed Rheumco to develop and commercialize radiolabeled diagnostics and therapeutics for rheumatologic and arthritic diseases. The joint enterprise, called R-NAV, will combine Navidea’s proprietary Manocept CD206 macrophage targeting platform and Rheumco’s proprietary Tin-117m radioisotope technology to focus on leveraging the platforms across several indications with high unmet medical need. R-NAV will be initially funded primarily through a $4M investment from Infinity Capital III and other third-party private investors working closely with Essex Woodlands, and underpinning the technology contributions from Rheumco and Navidea. Navidea has committed an additional $1M to support R-NAV’s development efforts to be paid in equal installments over three years. In exchange for its cash, in-kind and technology contributions, Navidea has received both common units and Preferred Series A units of R-NAV and will initially own approximately 30% of the combined entity. Joint oversight of R-NAV is shared between Navidea, Rheumco, Infinity Capital III of Houston-based McRay Money Management, and the other investors. Navidea also has an option to acquire, at its sole discretion prior to Phase 3 clinical study, imaging products derived from the Manocept platform, and therapeutic products combining Manocept agents from Navidea with the Tin-117m technology for commercialization.
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January 29, 2015
07:41 EDTNAVBNavidea reports data on Lymphoseek vs. Sulfur Colloid in breast cancer
Navidea Biopharmaceuticals announced that an analysis comparing sentinel lymph node biopsy procedures using Lymphoseek injection + vital blue dye to filtered sulfur colloid + VBD in breast cancer patients was published in the Annals of Surgical Oncology. Results demonstrated the following: Lymphoseek patients had significantly fewer SLNs removed per procedure; Proportionally fewer nodes were necessary to detect cancer spread; and Nodes removed using Lymphoseek held greater predictive value for diagnosing spread of breast cancer to lymph nodes. The study was published in the January print issue of the journal, Annals of Surgical Oncology.
January 21, 2015
07:34 EDTNAVBNavidea's Macrophage Therapeutics unit announces plan for $2.5M financing
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