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. Presbia acquires Neoptics assets for $2m
Presbia said yesterday that its Irish subsidiary agreed to pay about $1.5 million to acquire some unspecified assets from Neoptics AG.
The CHF 1.5 million buyout includes Neoptics current and pending patents, trademarks, equipment, inventory, technical and other related documents, Presbia said. Hünenberg, Switzerland-based Neoptics makes the Icolens device, a lens designed to be implanted into the cornea to treat presbyopia. Read more
4. Synthes sales consultants win $5m class action settlement
Outside sales reps for Johnson & Johnsonsubsidiary Synthes who accused the company of failing to cover business expenses and illegal wage deductions last week won a $5 million settlement in their class action lawsuit.
Lead plaintiff Troy Lindell was an outside sales rep for Synthes from 1999 until 2011 in Fresno County, Calif., according to his December 2011 complaint. Although Synthes pledged to reimburse him for the 200 miles a week he spent on the road and for the office supplies and equipment he needed to do the job, the company allegedly failed to live up to that promise, according to the complaint. Read more
3. Boston Scientific wins FDA nod for Emblem MRI S-ICD
Boston Scientific said today that the FDA approved its Emblem MRI subcutaneous implantable defibrillator system and magnetic resonance conditional labeling for all previously implanted Emblem S-ICD systems.
The Marlborough, Mass.-based company’s Emblem S-ICD systems are designed to treat patients at risk of sudden cardiac arrest without the risk of complications associated with transvenous implantable cardioverter-defibrillators. Read more
2. Sientra inks contract manufacturing deal with Lubrizol’s Vesta
Sientra said today that it inked a contract manufacturing deal for its breast implants with Lubrizol LifeSciences subsidiary Vesta.
Santa Barbara, Calif.-based Sientra was off the market for 4 months after Brazilian regulators shut down production last year at its sole supplier. The company, which was back on the market March 1, was stymied after Brazilian regulator Anvisa last October suspended production at Silimed, Sientra’s supplier, and the U.K.’s Medicines & Healthcare Products Regulatory Agency halted sales. Read more
1. CVRx raises $113m Series G for Barostim Neo trial
CVRx said today that it raised a $113 million funding round it plans to use to complete a pivotal clinical trial of its Barostim Neo neurostimulation device for treating heart failure.
The round consists of a $93 million equity round and a $20 million debt facility, the Minneapolis-based company said. CVRx, which reported raising $46.5 million in a June regulatory filing, said some $58 million from the equity round is already in its coffers, with another $35.3 million milestone on the line pegged to “achievement of a certain operational milestone,” the company said. Read more
The post MassDevice.com +5 | The top 5 medtech stories for August 9, 2016 appeared first on MassDevice.
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