MassDevice.com +5 | The top 5 medtech stories for August 30, 2016

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. Vention Medical boosts footprint in Ireland

Vention Medical said today that it boosted its footprint on the Emerald Isle with the opening of a new facility on the National University of Ireland’s Galway campus. Read more

 

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4. International Biomedical Devices closes $2.4m convertible debt round

Early-stage med device company International Biomedical Devices said today it closed a $2.35 million convertible debt funding round to support its flagship ApertureCTC precision capsulotomy system designed for cataract surgery.

Money in the round came from Santen Pharmaceutical Col, entrepreneurial support program SC Launch and one of the company’s founders. Read more

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3. Carmat shares gain on pivotal trial launch

French artificial heart maker Carmat said yesterday that it launched a pivotal trial of its bioprosthetic artificial heart, hoping to use the data to win CE Mark approval in the European Union.

The news sent CXT shares up 6.5% to $41.18 (€36.92) apiece today in late-day trading in Frankfurt. Carmat’s shares are off 9.8% so far this year, valuing the company at about $230.9 million (€207 million). Velizy Villacoublay-based Carmat posted a net loss of -$19.5 million (-€17.5 million) last year. Read more

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2. Bluegrass Vascular wins CE Mark for Surfacer vascular access device

Bluegrass Vascular Technologies said today that it won CE Mark approval in the European Union for its Surfacer vascular access device and plans a limited commercial launch in 7 countries there.

Surfacer is designed to restore central venous access in patients with occluded veins. San Antonio-based Bluegrass Vascular, which drummed up a $4.5 million Series A round 2 years ago to back its CE Mark bid, said it plans to put Surfacer on the market in the U.K., Germany, Austria, Italy, Holland, Belgium and Luxembourg. The company said it’s also set to begin a post-market registry study of the device. Read more

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1. St. Jude Medical: Alleged Merlin@home ‘crash’ is actually a security feature

St. Jude Medical today issued another strongly worded refutal of accusations made by a short-seller aiming to drive its share price down, denying the allegations and calling out Muddy Waters, the firm founded by well-known short-seller Carson Block, “irresponsible, misleading and unnecessarily frightening” to patients.

The short-seller is aiming to disrupt the pending, $25 billion acquisition of St. Jude by Abbott; in addition to his bet that STJ share prices will fall, Block is long on ABT shares. His shop and a startup cybersecurity business called MedSec alleged last week that St. Jude’s implanted cardiac rhythm management devices pose a cybersecurity risk due to vulnerabilities in the Merlin@home monitor. The Little Canada, Minn.-based company immediately denied the charges and fired off a detailed rebuttal the next day; in response, Muddy Waters yesterday claimed that St. Jude instead proved the short-seller’s assertions. Read more

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