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. Nexstim wins CE Mark for brain therapy treatment for chronic neuropathic pain
Brain therapy system developer Nexstim said late last month it won expanded CE Mark approval in the European Union for its Navigated Brain Therapy system, now cleared for the relief of chronic neuropathic pain.
The NBT system uses navigated transcranial magnetic stimulation to treat exact areas in the brain using a 3D image rendered from a patients MRI scan, and has existing clearances for treating major depression and for use in stroke rehabilitation therapy. Read more
4. InspireMD closes $15m offering
InspireMD said yesterday that it raised $14.6 million in a “best efforts” stock offering it plans to use to boost sales of its anti-stroke devices.
Boston-based InspireMD said the offering consisted of 442,424 shares of Series B stock convertible into 100 shares of common stock at 33¢ per share, with a 5-year cumulative dividend rate of 15% a year. Read more
3. Belgian neurostim-based sleep apnea dev Nyxoah raises $20m
Belgian developer Nyxoah said yesterday it raised $20 million (EU €18 million) to support its progress towards eventual CE Mark and FDA approval for its novel neurostimulation based disruptive therapy for patients with obstructive sleep apnea.
The company is developing a lead-free neurostimulator designed to deliver bilateral hypoglossal nerve stimulation to treat moderate to severe OSA patients who have failed conventional therapy with a CPAP machine. Read more
2. FDA approves trial for Essential Medical’s Manta vascular closure device
Essential Medical said today that it won an investigational device exemption for a clinical trial of its Manta vascular closure device.
The Manta device is designed to close punctures in less than 1 minute, providing immediate hemostasis, using absorbable biomaterials in an “anchor/plug” sealing technology, according to Essential Medical’s website. Read more
1. St. Jude Medical settles lawsuit over CRM leads for $39m
St. Jude Medical agreed to pay $39.25 million to settle a securities class action lawsuit that accused the company and its leadership of misleading investors about problems with the wire leads used with its cardiac rhythm management devices.
Investors sued Little Canada, Minn.-based St. Jude in December 2012, alleging in a pair of lawsuits that were later consolidated that the company concealed the problems that plagued its recalled Riata leads and their successor, the Durata line. The lawsuit covers owners of STJ stock from Feb. 5, 2010 through Nov. 20, 2012. Read more
The post MassDevice.com +5 | The top 5 medtech stories for July 8, 2016 appeared first on MassDevice.
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