{"id":3191,"date":"2023-12-14T00:40:46","date_gmt":"2023-12-14T00:40:46","guid":{"rendered":"https:\/\/economicherald.net\/?p=3191"},"modified":"2023-12-14T00:40:46","modified_gmt":"2023-12-14T00:40:46","slug":"asx-health-stocks-mach7-signs-10m-deal-volpara-agrees-to-300m-takeover-from-south-korean-outfit","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3191","title":{"rendered":"ASX Health Stocks: Mach7 signs $10m deal; Volpara agrees to $300m takeover from South Korean outfit"},"content":{"rendered":"<p>Mach7 signs 5-year $10m deal<br \/>\nArgenica Therapeutics is ready to commence Phase 2 clinical trial<br \/>\nVolpara Healthcare set to be acquired and delisted from ASX<\/p>\n<p>\u00a0<\/p>\n<h2>Mach7 signs $10.2m deal<\/h2>\n<p>Medical imaging systems provider, <strong><a href=\"https:\/\/stockhead.com.au\/company\/mach7-technologies-m7t\/\">Mach7 Technologies (ASX:M7T)<\/a><\/strong>, rose 6% in early trading after announcing a new <strong>5-year subscription agreement<\/strong> with <strong>Sentara Healthcare<\/strong> for its <em>Enterprise Imaging Platform<\/em> and <em>eUnity Diagnostic Viewer<\/em>.<\/p>\n<p>The total <strong>minimum value of the renewal is $10.2m<\/strong> and will generate Annual Recurring Revenue (ARR) of approximately $2.0m.<\/p>\n<p>This represents an additional $1 million in ARR compared to the current contract, with the new agreement effective 1 January 2024. This contract offers further upside to Mach7 should volume continue to exceed current contract minimums.<\/p>\n<p>Sentara Healthcare is one of the largest health systems in the Mid-Atlantic and Southeast of the US. It is among the top 20 largest non-profit integrated health systems in the country with 30,000 employees and 12 hospitals in Virginia and northeastern North Carolina.<\/p>\n<p>\u201cOur pipeline remains strong and reflects opportunities across multiple geographies and product combinations,\u201d commented CEO of Mach7, Mike Lampron.<\/p>\n<p>\u00a0<\/p>\n<h2>Argenica set to commence Phase 2 trial<\/h2>\n<p>Brain-focused biotech, <strong><a href=\"https:\/\/stockhead.com.au\/company\/argenica-therapeutics-agn\/\">Argenica Therapeutics (ASX:AGN)<\/a><\/strong>, has provided an update on the progress of the company\u2019s <strong>Phase 2 clinical trial in acute ischaemic stroke (AIS) patients<\/strong>.<\/p>\n<p>Argenica said the manufacturing of the <strong>ARG-007<\/strong> drug substance required for the Phase 2 clinical trial has now been completed, with the finalised sterile drug product manufacturing to be completed by the end of this year.<\/p>\n<p>Melbourne based peptide manufacturer, <em>Auspep Clinical Peptides<\/em>, has completed the manufacturing of the ARG-007 drug substance (in powder form).<\/p>\n<p>This has since been sent to Argenica\u2019s European based contract manufacturer, <em>CordenPharma,<\/em> to be finished as sterilised vials of the ARG-007 drug product solution under Good Manufacturing Practices (GMP) ready for dosing of patients in the Phase 2 clinical trial.<\/p>\n<p>The completion of the batch of ARG-007 will ensure Argenica can commence first patient dosing in Q1 of 2024.<\/p>\n<p>The final approval for the clinical trial sites remains on-track, with one hospital ready to commence patient dosing, and several others in the final stages of approval. The clinical trial will be held in a number of hospitals across Australia.<\/p>\n<p>ARG-007 was designed to reduce brain tissue death after brain injury and other neurological conditions, and has been granted Orphan Drug Designation status by the US FDA for the treatment of Hypoxic Ischaemic Encephalopathy (HIE).<\/p>\n<p>\u00a0<\/p>\n<h2>Volpara to be acquired<\/h2>\n<p>Meanwhile, breast cancer imaging device company, <strong><a href=\"https:\/\/stockhead.com.au\/company\/volpara-health-technologies-vht\/\">Volpara Healthcare (ASX:VHT)<\/a><\/strong> jumped by 40% this morning after the company\u2019s Board says the takeover offer from <strong>Lunit, Inc.<\/strong>provides the most compelling value for shareholders.<\/p>\n<p>Lunit had earlier <strong>offered Volpara shareholders $1.15 per share in cash, worth around $300 million.\u00a0\u00a0<\/strong><\/p>\n<p>Volpara has now entered into a scheme implementation agreement with Lunit, but a final shareholder approval will still need to be sought at a Scheme meeting of shareholders expected to be held in early Q2 2024.<\/p>\n<p>Volpara chairman Paul Reid said: \u201cVolpara\u2019s Board has assessed the proposed Scheme as providing compelling, risk-adjusted value and certainty for shareholders and unanimously support the proposed transaction.\u201d<\/p>\n<p>Founded in 2013 and headquartered in Seoul, South Korea, Lunit is a deep learning-based medical AI company. Its flagship Lunit INSIGHT suite is clinically used in approximately 3,000+ hospitals and medical institutions across 40+ countries.<\/p>\n<p>Meanwhile, Volpara\u2019s breast density imaging device has been used by women\u00a0across 40 countries.<\/p>\n<p>\u00a0<\/p>\n<h2>Share prices today:<\/h2>\n\n<p><span class=\"mce_SELRES_start\"><\/span>\u00a0<br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/asx-health-stocks-mach7-signs-10m-deal-volpara-agrees-to-300m-takeover-from-south-korean-outfit\/\">ASX Health Stocks: Mach7 signs $10m deal; Volpara agrees to $300m takeover from South Korean outfit<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Mach7 signs 5-year $10m deal Argenica Therapeutics is ready to commence Phase 2 clinical trial Volpara Healthcare set to be acquired and delisted from ASX <a href=\"https:\/\/economicherald.net\/?p=3191\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3192,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX Health Stocks: Mach7 signs $10m deal; Volpara agrees to $300m takeover from South Korean outfit - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=3191\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Health Stocks: Mach7 signs $10m deal; Volpara agrees to $300m takeover from South Korean outfit - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Mach7 signs 5-year $10m deal Argenica Therapeutics is ready to commence Phase 2 clinical trial Volpara Healthcare set to be acquired and delisted from ASX [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=3191\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-14T00:40:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/Volpara-Healthcare-set-to-be-acquired-and-delisted-from-ASX.-Picture-Getty-JsI5MJ.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3191#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3191\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"ASX Health Stocks: Mach7 signs $10m deal; 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