Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
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5. Questions surface about Palmaz Scientific’s fundraising
Palmaz Scientific, which filed for Chapter 11 bankruptcy protection last month, is reportedly embroiled in a dispute with Jefferies & Co. over its claim that the prominent investment bank was the placement agent for a funding round in 2012 and 2013.
Co-founded by coronary stent pioneer Dr. Julio Palmaz in 2008, the San Antonio, Texas-based company tapped Jefferies for a $7.5 million round in 2010, according to the San Antonio Express-News. But despite the fact that the Wall Street firm severed its ties with Palmaz Scientific in 2011, according to the newspaper, the medical device company continued to list Jefferies as the placement agent for another 2 years in marketing materials. Read more
4. FDA grants IDE to NovoCure for phase II Optune trial
NovoCure said today that Radiation Therapy Oncology Group Foundation won FDA investigational device exemption to conduct a Phase II pilot test of NovoCure’s Optune in conjunction with bevacizumab to treat bevacizumab-refractory recurrent glioblastoma.
The Optune is a mobile device that delivers low-intensity, intermediate frequency, alternating electric fields, referred to as “tumor treating fields” to inhibit cancer cell replication and cause cancer cell death. Read more
3. Zimmer picks up soft-tissue company Cayenne Medical
Zimmer Biomet said today it inked a deal to buy Scottsdale, Ariz.-based soft-tissue reconstruction solutions company Cayenne Medical.
Warsaw, Ind.-based Zimmer Biomet did not release any financial details of the transaction, but said that it expects the acquisition to close during the 2nd quarter of 2016. Read more
2. TransEnterix FDA rejection could put Titan neck-and-neck for clearance
The FDA’s rejection of TransEnterix’s 510(k) application for its SurgiBot robotic surgery system could have tightened the race between it and Titan Medical as both companies look release a robotic system to compete with robotic surgery big-fish Intuitive Surgical.
The FDA rejection resulted in an over 50% share drop at TransEnterix, who seemed sideswiped, saying that it would update on its regulatory strategy during its Q1 earnings call on May 10. Read more
1. Google Glass startup Augmedix raises $17m in strategic investment round
Google Glass startup Augmedix said today it closed a $17 million strategic round of funding with investments from 5 healthcare systems across the U.S. to support its Google Glass-powered service.
The company aims to help physicians to spend more time with patients and less time “feeding the beast” that is the electronic health record system. claiming the experience will help “rehumanize” the physician experience. Read more
The post MassDevice.com +5 | The top 5 medtech stories for April 25, 2016 appeared first on MassDevice.
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