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. Helius Medical closes $10m offering for portable neurostim trials
Helius Medical Technologies said today that it closed an offering worth nearly $10 million (C$12.5 million) for the portable neurostimulation device it’s developing.
Newtown, Pa.-based Helius said it plans to use the proceeds from the 6.6-million-share flotation to complete a trial of the PoNS therapy in treating mild to moderate brain injury and the launch of a new trial in multiple sclerosis and another in cognition. The proceeds are also earmarked for R&D to complete an FDA submission, the company said. Read more
4. Avenu Medical raises $13m
Vascular access system maker Avenu Medical has raised $13.1 million in a new round of equity financing, according to an SEC filing posted this week.
The company has not yet stated how it plans to spend funds raised in the round or when it plans to close the round. Read more
3. Mazor Robotics dips despite Street-beating Q4, 2016
Mazor Robotics shares are down this morning despite the company’s report that both 4th-quarter and full-year results topped expectations on Wall Street.
The Caesarea, Israel-based robot-assisted surgery company posted widened losses of -$4.2 million, or -9¢ per share, on sales of $14.0 million for the 3 months ended Dec. 31. That amounts to a 48.8% increase in red ink on sales growth of 59.3% compared with Q4 2015. Adjusted to exclude 1-time items, losses per share were -7¢, a full nickel ahead of the -12¢ forecast on The Street, where analysts were looking for sales of $12.7 million. Read more
2. FDA expands indication for Medtronic’s Freezor Xtra cryoablation catheter
Medtronic said today that it won an expanded indication from the FDA for its Freezor Xtra cryoablation catheter for treating atrioventricular nodal re-entrant tachycardia.
Fridley, Minn.-based Medtronic said the Freezor Xtra catheter is a flexible, single-use device used to freeze cardiac tissue and block unnecessary electrical signals within the heart. Read more
1. Corindus inks Japanese distribution deal for CorPath GRX
Corindus Vascular Robotics said today that it inked a Japanese distribution deal for its CorPath GRX device that includes a $2 million advance and provision for 12 of the robot-assisted surgery platforms.
The deal with MC Healthcare subsidiary Japan Medicalnext calls for an initial order of a dozen systems within 30 days with a $2 million advance toward the purchase price. Read more
The post MassDevice.com +5 | The top 5 medtech stories for February 16, 2017 appeared first on MassDevice.
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