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. Stryker recalls Boston Scientific Guider guide cath
Stryker‘s neurovascular division this month released a recall notice for Boston Scientific‘s Guider guide catheter it distributes over issues with an incomplete seal that could lead to blood loss.
Both companies are coordinating to enable the recall and return of affected products, according to the recall release. Read more
4. Akesys, Elixir Medical tout 1st implant for Prava bioresorbable peripheral stent
Akesys Medical and Elixir Medical Corporation said today that it implanted its 1st Prava sirolimus eluting bioresorbable peripheral scaffold for the treatment of blockages in the superficial femoral artery.
The scaffold was developed to keep the large artery in the thigh open and restore blood flow to the leg and resorb into the body, making us of the bioresorbable tech licensed to Akesys by Elixir. Read more
3. Bigfoot Biomedical raises $36m Series A for Smartloop artificial pancreas program
Bigfoot Biomedical said yesterday that it raised $35.5 million in a Series A round for the artificial pancreas technology it’s developing to treat Type I diabetes.
The round, led by Quadrant Capital Advisors, included backing from Cormorant Asset Management, Senvest Capital, and Visionnaire Ventures. Bigfoot said it plans to use the proceeds to fund the final development of its Smartloop automated insulin delivery platform. Read more
2. Whistleblower drops some claims in Medtronic insulin pump suit
The whistleblower in a lawsuit accusing Medtronic of marketing its insulin pumps for off-label uses and running a kickbacks scheme to drive new sales withdrew some state claims from the case.
Former sales rep Adam Witkin alleged in 2011 that Medtronic offered “false and misleading” information on the off-label use of high-concentration U-500 insulin with its insulin pumps, and of using a kickbacks scheme to induce doctors to prescribe its insulin pumps. Read more
1. iRhythm prices IPO above the range, raises $107m
iRhythm Technologies yesterday increased the scale of its initial public offering, pricing the flotation above its prior range at $17 per share and increasing the number of shares on offer.
Earlier this month iRhythm said it planned to float 5.35 million shares priced between $13 and $15 apiece. Yesterday the San Francisco-based company added nearly 1.1 million shares, for a total of 6.44 million, raising $107 million. Read more
The post MassDevice.com +5 | The top 5 medtech stories for October 20, 2016 appeared first on MassDevice.
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