Bioventures seeking IPOs in the South Korean stock market are having a tough time due to waning interest from investors. A surge in such offerings this year, coupled with the usual IPO rush seen at the end of each year, have resulted in several biotech companies withdrawing plans or raising funds short of initial targets.

Curetis AG and its partner Heraeus Medical are ramping up for the European launch of a new molecular diagnostics assay designed to rapidly detect implant and tissue infections, including those associated with joint replacement surgery. The test will deliver a clinically actionable result in only four to five hours, compared with 10 days to two weeks for a microbiology culture.

The dealmaking column is a survey of recent transactions, including strategic alliances, mergers & acquisitions, and financings, in the life sciences industries. Deals are listed by the following industry sectors: in vitro diagnostics, pharmaceuticals, medical devices, and research/analytical instrumentation and reagents. All transactions are excerpted from Windhover's Strategic Transactions database, providing comprehensive transaction coverage from 1991 to the present.

First Chicago Equipty Capital, acting with advice from Garrett Capital Advisors LLC, formed LifeStream International LLC, a cardiopulmonary products company, out of three recent acquisitions: the cardiopulmonary products division of CR Bard Inc., certain assets of the cardiosurgery business of Minntech Corp., and Surgimedics Inc.,