Life sciences briefing: Thursday, Dec. 27, 2007

TODAY’S HEADLINES:

perfint-logo-150px.gifIndia’s Perfint, medical-device co., raises $3.5M – Perfint, a Chennai, India-based producer of medical equipment, raised $3.5 million in a new funding round.

IDG Ventures India and Erasmus Venture Fund provided the cash. IDG supplied the bulk of the investment — $3 million — with Erasmus providing the rest.

Perfint’s first product, the PIGA-CT, is a tool positioner for minimally invasive procedures. The PIGA-CT is designed to work with a variety of compact CT scanners for image-guided positioning.

source-mdx-logo-150px.gifSource MDx strikes Pfizer partnership to ID cancer, inflammation “fingerprints” – Source MDx, a Boulder, Colo., developer of molecular diagnostics, struck a multi-year partnership with Pfizer. The two companies will identify and validate “biomarkers” — essentially, any sort of biochemical signal, such as levels of a particular protein or RNA snippet — that can be used to track the effect of a drug or predict the course of disease.

The collaboration will focus on Pfizer’s cancer and inflammation drug-development programs. Financial details weren’t disclosed, although Pfizer will make an equity investment in Source MDx and pay both a technology licensing fee and R&D costs. Source MDx will retain commercial rights to diagnostic biomarkers discovered and validated by the partnership.