ASX Health Stocks: Optiscan jumps after signing robotic surgery deal with Mayo Clinic

Optiscan signs deal with world-renowned Mayo Clinic
AdAlta designates Cell Therapies as its manufacturing partner
Ecofibre jumps after entering sell and leaseback agreement in US

Optiscan signs deal with Mayo Clinic

Optiscan Imaging (ASX:OIL) jumped +27% this morning after announcing a know-how agreement with Mayo Clinic aimed at developing a digital confocal laser endomicroscopic imaging system tailored for application in robotic surgery.

This collaboration will harnesses Optiscan’s extensive engineering proficiency in digital endomicroscopic hardware and software development, synergising with Mayo Clinic’s expertise in robotic surgery and patient care.

The deal will be for a 24-month period, where experts from both Optiscan and Mayo will collaborate to create a robot-compatible endomicroscopic imaging system, with an initial emphasis on robotic-assisted breast cancer surgery.

Mayo Clinic is the largest not-for-profit medical group practice in the world, and has earned top rankings for high-quality patient care with more #1 rankings than any other hospital in the US.

It’s also top-ranked in more specialties than any other US hospital. The hospital undertakes more than 141,000 surgical cases and performs more than 4,000 robotic surgery cases a year.

Meanwhile, the robotic-assisted surgery market is experiencing significant growth.

The US robotic surgery service market was valued at US$1.8bn in 2022, and is estimated to grow at a compound annual growth rate (CAGR) of 17.3% to reach US$6.4bn in 2030.

Optiscan CEO, Dr Camile Farah, said the collaboration is part of Optiscan’s wider strategic focus on the US market, and the company’s plan to embed its technology as a key component of oncological surgery workflows.

“This collaboration is built on a shared history of innovation and a laser focus on delivering the highest quality patient outcomes for better health care delivery,” added Dr Farah.

AdAlta names manufacturing partner

AdAlta (ASX:1AD) and Cell Therapies Pty Ltd (CTPL) have signed a deal, designating CTPL as the preferred manufacturing partner for AdAlta for its cellular immunotherapies.

This strategic deal enhances AdCella, AdAlta’s cellular immunotherapy venture with SYNthesis BioVentures (SYNBV), by providing crucial support in product development, manufacturing, and supply chain operations.

CTPL’s involvement will also aid AdCella in achieving its objective of offering innovative cellular immunotherapies originating from Asia.

Under the agreement, CTPL’s services will encompass a spectrum of offerings, spanning process development, technology transfer, analytical testing, clinical product manufacturing and supply, as well as regulatory support.

“This collaboration with CTPL is the next key building block in our strategy to bring highly innovative cellular immunotherapies into a Western regulated environment,” said AdAlta’s CEO, Dr Tim Oldham.

Ecofibre on US property deal, and has new CEO

Ecofibre (ASX:EOF) meanwhile surged +16% this morning after announcing that its US subsidiary, EUSA RE LLC, has signed a conditional agreement to sell and leaseback two manufacturing facilities in Greensboro, North Carolina.

The sale is part of the company’s plan to reduce debt and financial risk across the Ecofibre group.

The purchaser is a privately held real estate investment firm that currently owns 24 single and multi-tenant industrial properties and has acquired, developed, and managed over 10 million square feet of property across the US.

Key terms of the deal includes Ecofibre Advanced Technologies Inc becoming the tenant for next seven years with two and five year extension options.

Separately, Ecofibre advised that John Foley has been appointed interim CEO of the company, effective today. Foley has been an adviser to the business for some time, and will be based out of Greensboro.