The Daily Biotech Pulse: Bausch Files For Eye Health Unit IPO, LumiraDx Antigen Test Can Detect Omicron, Molecular Partners Discloses Fund Stake

Here's a roundup of top developments in the biotech space over the last 24 hours.

Stocks In Focus

Corvus Says Chinese Angel Pharma Starts Phase 1/2 Blood Cancer Study

Corvus Pharmaceuticals, Inc. CRVS announced that its partner in China, Angel Pharmaceuticals has treated the first patient in its Phase 1/1b clinical trial of Corvus' small molecule ITK inhibitor CPI-818 for the treatment of relapsed/refractory T-cell lymphomas in China.

Bausch Health Announces Filing For Initial Public Offering Of Bausch + Lomb Eye Health Unit

Bausch Health Companies Inc. BHC in connection with its previously announced intention to separate its eye health business, its wholly owned subsidiary, Bausch + Lomb Corporation has publicly filed with the securities regulator in the U.S. and Canada relating to a proposed initial public offering of Bausch + Lomb's common shares concurrently in the U.S. and Canada. All of the shares being offered will be sold by a wholly owned subsidiary of Bausch Health. The number of common shares to be offered and the price range for the IPO have not yet been determined.

Bausch Health shares were up 0.93% at $27 in premarket trading.

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LumiraDx Says COVID-19 Antigen Test Detects Omicron Variant

LumiraDx Limited LMDX announced that results from ongoing testing and monitoring of COVID-19 variants show its SARS-CoV-2 Antigen test detects the omicron Variant. In-house wet testing with live omicron virus demonstrated that the LumiraDx SARS-CoV-2 Antigen test detects the omicron variant with comparable sensitivity to other variants.

The stock was adding 1.08% at $9.33 in premarket trading.

Molecular Partners Gains On Fund Stake Disclosure

Swiss biopharma Molecular Partners AG MOLN said Essex Woodlands Health Ventures Funds crossed below the 3% threshold, transacting its remaining shares to BVF Partners L.P., whose holdings have now crossed the 10% threshold, rising to 12.21%.

The company has licensed its COVID-19 treatment candidate to Novartis AG NVS.

The stock was rallying 10.75% to $31.29 in premarket trading.

Related Link: Attention Biotech Investors: Mark Your Calendar For January PDUFA Dates

Cardiovascular Systems Announces Development Of Lithotripsy Systems For Treating Calcific Coronary And Peripheral Artery Disease

Cardiovascular Systems, Inc. CSII, a medical device company focused on peripheral and coronary artery disease, announced it has made significant progress towards the commercialization of intravascular lithotripsy systems for the treatment of calcific coronary and peripheral artery disease.

Lithotripsy is a medical procedure that uses non-invasive high-pressure waves to fracture and disrupt pathologic solid masses. Lithotripsy has been used successfully for many years in the treatment of kidney and gall stones, and more recently has found application in treatment of calcified coronary and peripheral arteries.

The stock was up 2.38% at $18.50 in premarket trading.

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