divendres, 29 de març del 2019

NexStim wins Health Canada approval for NBS, NexSpeech

Nexstim

Nexstim said today that it won approval from Health Canada for its NBS system and NexSpeech devices.

The Helsinki-based company’s NBS system and NexSpeech comprise a diagnostic device intended for the non-invasive localization of the brain areas that control motor and speech functions. The devices are used by neurosurgeons for surgical planning prior to brain tumor operations or in treating treatment-resistant epilepsy, Nexstim said.

Both the NBS system and NexSpeech use navigated Transcranial Magnetic Stimulation to better allow for personalized, accurate and reproducible stimulation of specific areas of the brain, the company said.

Nexstim said that it has already inked a distribution agreement with a Canadian distribution company to bring both systems to the market in the region, according to a press release.

Earlier this week, Nexstim said that it won FDA 510(k) clearance for a new, shorter treatment protocol for its Navigated Brain Therapy transcranial magnetic stimulation system intended to treat major depressive disorder.

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BioSig raises $9m

BioSig

BioSig Technologies (OTCQB: BSGM) has raised $8.6 million in a new round of equity financing, according to a recently posed SEC filing.

The Santa Monica, Calif.-based company is developing the Pure EP system, which is designed for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording and storing electrocardiographic and intracardiac signals for patients undergoing electrophysiology procedures.

The device is intended to reduce noise and artifacts to produce high-fidelity cardiac signals, which the company claims could increase the diagnostic values of the signals.

BioSig is not looking to raise any more funds during the round, and has not yet stated how it plans to spend funds raised.

Money in the round came from 103 unnamed investors, with the first date of sale noted as having occurred on March 14, according to the filing.

Last November, BioSig said that it inked a deal with Austin’s Texas Cardiac Arrhythmia Institute at St. David’s Medical Center to launch first-in-human studies using its Pure EP system.

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Sterilization plant closures: Here’s why you need to care

(Image by Jose Fontano on Unsplash)

The recent shutdown of a Sterigenics medical device sterilization plant in Willowbrook, Ill. has affected medtech giants such as Becton Dickinson (NYSE:BDX), Boston Scientific (NYSE:BSX), Medtronic (NYSE:MDT), Smith & Nephew (NYSE:SNN) and Stryker (NYSE:SYK), according to an FDA list of devices processed at the sterilization plant.

Medium-sized and smaller firms, including Teleflex Medical (NYSE:TFX), Arthrex and ArthroCare also had devices processed there. The Willowbrook plant sterilized 594 types of devices, including sutures, clamps, knives, stents and needles. With a Viant sterilization plant in Grand Rapids, Mich. slated to close later this year, the FDA is warning of spot shortages, and smaller medtech companies may be the hardest hit.

Get the full story on our sister site, Medical Design & Outsourcing.

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Tricuspid valve repair device maker CroíValve raises $4m

CroíValve

Early stage tricuspid valve repair device developer CroíValve has raised approximately $3.6 million (EU €3.2 million) in an oversubscribed seed financing round, according to a report from the Irish Times.

CroíValve is developing a novel percutaneous solution intended to treat tricuspid regurgitation that seals the central gap between the native valve leaflets to prevent regurgitation, according to the company’s website.

The funding round was led by the business angel network HBAN and joined by Atlantic Bridge University Fund, Enterprise Ireland, Seán O’Sullivan’s SOSV and a total of 48 angel investors, according to the report.

CroíValve said it plans to use funds raised in the round to support continued development of the device.

“We welcome the investors’ support in accelerating our development efforts and look forward to working together to bring this exciting technology to patients. In doing so we are currently building our team, particularly in the area of R&D, and by year-end 2019 we will have grown to a company of 10,” founder Dr. Lucy O’Keeffe said, according to the Irish Times.

In connection with the funding round, former Boston Scientific exec and HBAN syndicate member Dr. Bernard Collins was named as board chair, according to the report.

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Endra Life Sciences touts preliminary TAEUS liver fat analysis study data

Endra Life Sciences

Endra Life Sciences today reported preliminary results from the first-in-man feasibility study of its Thermo Acoustic Enhanced Ultrasound System exploring its ability to measure and analyze liver fat.

The TAEUS platform is designed to allow for the visualization of human tissue composition, function and temperature at a cheaper cost than computed tomography or magnetic resonance imaging and provided at the point-of-care, the Ann Arbor, Mich.-based company said.

Preliminary data came from 25 subjects analyzed with the TAEUS platform as compared with quantitative MRI fat fraction measurements and other indicators including Body Mass Index and abdominal fat thickness as measured by traditional ultrasound.

Results from the trial indicated that 21 subjects in the study had less than 6% liver fat fraction as assessed by MRI, classified in the healthy or normal range, while the other four subjects were found to have between 8% and 22.4% fat fraction, which is classified as mild non-alcoholic fatty liver disease.

Study investigators said that the correlation between thermoacoustic measurements of Endra’s reference designed and the percent fat fraction as measured by MRI had an R2 of 0.61 with a standard error of the mean of 2.98%.

Correlations between BMI with MRI fat fraction were only 0.19, while the correlation of abdominal fat thickness analyzed via ultrasound and MRI fat fraction was 0.31, the company said.

Endra said that some subjects in the trial with ‘mild’ fatty liver based on MRI fat fraction had been incorrectly classified by conventional ultrasound assessment as either normal or severe, while the TAEUS measurements were closely aligned with MRI fat fraction analysis.

”We are pleased with the initial findings from our proprietary reference design and it is very encouraging to see a correlation to MRI on such a small group of subjects right out of the gate. We look forward to following up with additional findings in the months to come after we complete data collection on 50 subjects,” CEO Francois Michelon said in a prepared statement.

Endra said that the next step of the feasibility study will look to add subjects that stratify the range of liver fat fraction seen in mild, moderate and severe fatty liver, adding that results from those subjects may vary significantly from initial data.

”In addition to the Robarts study, we plan to initiate several additional North American and European clinical studies in 2019 to build a strong base of clinical data to support our initial commercialization efforts in Europe, following an anticipated CE Mark,” CTO Michael Thornton said in a press release.

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InspireMD pulls the trigger on another reverse stock split

InspireMD (NYSE:NSPR) said this week its stockholders approved a 1-for-50 reverse split of its stock, slated to take effect today.

The reverse split comes only 13 months after its last 1-for-35 reverse split, which the Israel-based company initiated last February.

Through the deal, each shareholder in the company will receive a single share of the company’s stock for every 50 they previously held, with any fractional shares rounded up to the nearest whole share, according to an SEC filing.

InspireMD said that along with the reverse split, a proportionate adjustment will be made to the per share exercise price and number of shares issuable when converting the company’s outstanding preferred stock, as well as the exercise of all outstanding stock options and warrants.

The company’s stock will begin trading on a split-adjusted basis on April 1, InspireMD said in an SEC filing.

Shares in InspireMD have risen 2% so far today, at 14¢ as of 12:08 p.m. EDT.

In January InspireMD said that it inked a deal with Torque Medical to distribute its CGuard Embolic Prevention System in South Africa.

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LivaNova to settle majority of U.S. 3T Heater-Cooler cases

LivaNova

LivaNova (NSDQ:LIVN) said that it inked a deal to settle approximately 75% of litigations it faces in the U.S. related to its 3T Heater-Cooler device, which has been implicated in a number of unexpected severe patient infections, expecting to pay up to $225 million to settle the claims.

In June 2016, the FDA warned patients and doctors about the risk of a type of bacterial infection posed by LivaNova’s 3T Heater-Cooler. Four months later, the U.S. Centers for Disease Control & Prevention warned of the risk of serious bacterial infection in open heart surgery patients using the 3T Heater-Cooler.

A year later, a report emerged suggesting that a dozen children who underwent cardiac procedures at Children’s Hospital New Orleans earlier were infected with myobacterium previously linked to LivaNova’s 3T Heater-Cooler.

Last October, the company updated customers on efforts to correct issues with its 3T Heater-Cooler related to patient infections, providing instructions to monitor hydrogen peroxide concentration and information on a design upgrade.

The London-based company said today that it established a settlement framework looking to resolve a pending multi-district litigation in U.S. Federal Court as well as a related, pending class action and other certain cases in state courts across the country.

“We believe entering into the settlement is in the best interest of the company, its shareholders and patients, because it will remove ongoing costs and uncertainty as we focus on executing our strategy to deliver quality care to patients around the world,” CEO Damien McDonald, Chief Executive Officer of LivaNova.

Through the settlement framework, the company said it expects to pay up to $225 million, with up to $135 million to be paid no earlier than July 2019 with the remainder paid in January 2020.

LivaNova said that it previously established a $294 million reserve during its fourth quarter of 2018 to handle 3T Heater-Cooler litigation.

“We are pleased with the manner in which LivaNova has responded to these claims. These were complicated cases and the patients involved with this litigation have difficult medical histories. Protracted litigation was in no one’s interest, as the plaintiffs could benefit from settlement proceeds today. We especially appreciate the guidance from U.S. District Judge John E. Jones III, who oversaw the federal litigation,” plaintiff’s exec committee lead counsel Sol Weiss said in a press release.

The company said that it made no admission of liability under the settlement agreement and added that it can void the agreement if certain conditions, including participation rates of 95% of the category of plaintiffs, are not met.

LivaNova said that it still stands buy its 3T Heater-Cooler and plans to “vigorously defend the product and company actions in remaining cases.”

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1st U.S. patient treated with Cook Medical endovascular aortic dissection system

Cook Medical’s Zenith endovascular dissection system consists of two stents to treat a tear within the aorta. (Image from Cook Medical)

Cook Medical said it has launched its Zenith dissection endovascular system, recently approved by the FDA. The first patient was treated with the system at Cooper University Health Care in Camden, N.J., according to the company.

The Zenith system was designed to provide physicians with a less-invasive alternative to open surgery for repair of Type B dissections of the descending thoracic aorta. Zenith consists of a proximal stent-graft component and a distal bare-stent component.

Get the full story on our sister site, Medical Design & Outsourcing.

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AngioDynamics wins expanded FDA clearance for OARtrac radiation dose monitor

AngioDynamics

AngioDynamics (NSDQ:ANGO) said late yesterday that it won expanded FDA 510(k) clearance for its OARtrac radiation dose monitoring system.

With the new clearance, the Latham, N.Y.-based company’s OARtrac system is cleared for use with patient-specific, pre-calibrated Plastic Scintillating Detector sensors used during cancer treatments to monitor photon and electron radiation therapy as an adjunct to treatment planning.

AngioDynamics’ OARtrac system is designed to enable the measurement and validation of targeted radiation doses to improve accuracy and allow for more informed dosing.

“This expanded clearance provides us the opportunity to address an unmet need for patients in three of the most common types of radiation therapy, allowing for significantly improved outcomes. OARtrac is the type of disruptive technology that our customers value, and our team will continue to focus on creating additional pathways to help clinicians deliver the best possible treatment for their patients,” oncology senior VP Brent Boucher said in a press release.

The new indication adds to previous clearance which cleared the device for use in the real-time monitoring and measurement of photon radiation and high dose rate brachytherapy during cancer treatments on the skin surface and with endorectal balloon applications, AngioDynamics said. The system is also cleared for use with photon and electron energy.

In January, AngioDynamics saw shares rise after the medical device maker topped expectations on Wall Street with its second quarter financial results.

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ECRI Institute to open international medtech testing lab in Malaysia

ECRI Institute said it is launching its first medical device evaluation laboratory outside the United States.

The ECRI International Research Centre in Selangor, Malaysia will evaluate medical devices used across all care settings in Europe and Asia to help medical professionals make informed decisions that improve patient safety, according to the nonprofit, independent organization. It is scheduled to open April 11.

Get the full story on our sister site, Medical Design & Outsourcing.

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Align Tech, ClearCorrect parent co Straumann bury the hatchet, ink distro deal

Align, ClearCorrect

Align Technology (NSDQ:ALGN) said today that it inked a deal with competitor ClearCorrect parent company Straumann Holding to settle all outstanding patent disputes between the companies.

The deal includes a $35 million payment from Switzerland-based Straumann, as well as a 5-year global distribution deal through which Straumann will distribute 5,000 of San Jose, Calif.-based Align Tech’s iTero Element scanners. The scanners will be integrated into the Straumann/Dental Wings Cares/DWOS workflow, Align Tech said in an SEC filing.

Both companies agreed to dismiss all existing patent disputes between them in both the U.S. and the UK, and Align said that Straumann’s Neodent will withdraw its invalidity action against it in Brazil.

Align Tech said that the deal also includes a clause that specifies that if the companies do not enter a development and distribution deal within 90 days of the settlement agreement’s effective date, Straumann will be required to pay Align Tech an additional $16 million in lieu of the dev and distro deal.

“This agreement brings an end to a series of patent disputes and allows both Align and Straumann to avoid the expense, uncertainty and distraction of continued litigation. We can now turn our attention to the potential of an exciting new channel for iTero scanners and a digital integration partner in Straumann, recognized as a world leader in digital dentistry,” Align Tech GC & SVP Roger George said in an SEC filing.

Straumann Group picked up clear orthodontic corrective device maker ClearCorrect in August 2017 for approximately $150 million.

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dijous, 28 de març del 2019

Bayer loses bid to toss some claims in Essure class action suit

A federal judge in Philadelphia will allow six women who are suing Bayer (ETR:BAYN) over its Essure sterilization implant to proceed with their personal injury claims and three others to pursue their breach-of-warranty claims. One woman who became pregnant following implantation with Essure will be able to pursue her claim that Bayer fraudulently concealed the risk of pregnancy, the judge ruled.

Bayer had filed a motion for partial summary judgment on all 12 plaintiffs’ claims in the class action suit, citing statutes of limitations. Judge John Padova of the Eastern District of Pennsylvania granted Bayer’s motion for summary judgment on the personal injury claims of six of the women and on some or all of the breach-of-warranty claims of nine women.

The women had the Essure coils implanted in their fallopian tubes between 2006 and 2013 and claimed they suffered a variety of ailments afterward, including pain, bleeding and autoimmune disorders. Two became pregnant.

Under Pennsylvania law, the women had two years to file claims seeking damages for personal injury and four years to file claims for breach of warranty. Bayer and some of the women differed on when the clock began to run, based on when the women — or their doctors — connected their health problems to Essure and when they filed suit.

Padova heard the arguments on Bayer’s motion on February 11. Bayer took Essure off the market in the United States in December 2018. In April of 2018, the FDA put restrictions on U.S. sales of Essure, a small metal coil that’s placed in the fallopian tubes via catheter, after concluding that some patients were not adequately warned of its risks.

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Wound Management Tech shareholders approve 1-for-100 reverse split, name change to Sanara Medtech

Wound Management Tech

Wound Management Technologies (OTC:WNDM) said this week that its shareholders approved a 1-for-100 reverse split of its stock and a name change to Sanara MedTech.

The Fort Worth, Texas-based company said that through the split, each shareholder of the company will receive a single share of common stock for every 100 shares they previously held, with a cash payment provided for fractions of shares dependent upon market price of the stock the day before it becomes effective.

Wound Management Tech said that upon completion of the reverse stock split, the total authorized capital stock of the company will be reduced to 20 million shares while the number of preferred stock shares will be reduced to 2 million.

“The reverse stock split is intended to increase the per share trading price of the company’s shares to increase the appeal of our common stock to the financial community and investing public, as well as give us more flexibility with our listing status,” CFO Mike McNeil said in a press release.

The company also announced a name change to Sanara Medtech.

“Sanara comes from the Latin word ‘sana’ meaning ‘heal’ in English. The name reflects our commitment to provide an expanded portfolio of products for patients to benefit from reduced pain and faster healing outcomes,” CEO Mike Carmena said in a prepared statement.

Wound Management said that it expects both the name change and reverse split to take effect near the end of April or May of this year.

Last week, Wound Management Tech said that it closed a deal to acquire the remaining 50% stake in the Cellerate joint venture it launched last September with The Catalyst Group.

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Guided Therapeutics pulls trigger on 1-for-800 reverse stock split

Guided Therapeutics

Guided Therapeutics (OTC:GTHP) said today that it pulled the trigger on a 1 for 800 reverse split of its stock, effective March 29.

The Norcross, Ga.-based company said that its shareholders approved the reverse split last October. Through the deal, each shareholder of Guided Therapeutics will receive a single share of the company’s common stock for each 800 they previously held.

Guided Therapeutics said it also cleared out variable rate convertible loans with three lenders and reached preliminary agreements with two other lenders to exchange variable rate convertible notes for cash and fixed rate equity once “a significant financing of the company occurs.”As a result, two lenders agreed to suspend conversions, the company said.

“Eliminating variable rate convertible notes and the debt that comes with it has been a priority of Guided Therapeutics. We believe that both of these steps will make the company more attractive to investors, as well as our previously reported expectation of higher revenues due to increased sales in China, Russian/Eastern Europe and Indonesia. In addition, the reverse split will allow the company to uplift to the OTC Bulletin Board and help make the company more financeable,” prez & CEO Gene Cartwright said in a press release.

Last April, Guided Therapeutics said that it signed a Turkish license agreement with Item to manufacture its single-patient-use Cervical Guides in Turkey.

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Biolinq adds $5m to Series A

BioLinq

Biosensor developer Biolinq said today it raised $4.8 million as an extension of its Series A financing round.

The San Diego-based company said that the investment in its expanded, oversubscribed Series A round was led by the JDRF T1D Fund, Aphelion Capital and LifeSci Venture Partners. With the additional funding, Biolinq said it has raised a total of $15 million in the Series A round.

Read the whole story on our sister site, Drug Delivery Business News

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Prellis Biologics raises $9m

Prellis Biologics

Prellis Biologics has raised $8.7 million in a new round of equity financing, according to a recently posed SEC filing.

The San Francisco-based company is developing ultra-fast high-resolution holographic laser printing technology intended for use in creating human organs and tissues, according to its website.

Prellis Biologics offers a number of products based around vascularized tissue structures and extracellular matrices intended to grow human tissues and cells, according to the site.

A total of 11 anonymous investors participated in the round, with the first date of sale noted as having occurred on March 12.

The company is looking to raise an additional $475,000 in the round which would bring the total raised up to $9.2 million, according to the SEC filing.

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Valeritas inks Israeli distro deal with Tritech Biomed

Valeritas logo - updated

Valeritas (NSDQ:VLRX) said today that it inked an exclusive distribution deal with Tritech Biomed to commercialize its V-Go wearable insulin delivery device designed for patients with Type 2 diabetes in Israel.

Through the deal, the Bridgewater, N.J.-based company said that Tritech Biomed will have rights to promote, market and sell the V-Go system to diabetes clinics and patients in the region.

Read the whole story on our sister site, Drug Delivery Business News

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BrainScope completes large-scale BrainScope One mTBI validation study

Brainscope

BrainScope said today that it completed a validation study of its BrainScope One device designed to assess head injuries, exploring its ability to assess mild traumatic brain injuries in adolescent and young adult populations.

The Bethesda, Md.-based company ‘s FDA-cleared BrainScope One device is a multi-modal device designed to aid in the objective and rapid assessment and triage of head injury patients, and can assess the “full spectrum of brain injury” including concussions and brain bleeds.

BrainScope said that the study included data from nearly 1,700 subjects and more than 4,000 evaluations performed between 2015 and 2019. In the study, researchers aimed to create and validate an objective, personalized capability to assess concussions and readiness to return to activities in males and females between the ages of 13 and 25.

“These large studies add important information to the understanding of the pathophysiology of concussion, leading to better assessment capabilities which can improve short and long-term outcomes of head-injured patients,” chief scientific officer Leslie Prichep said in a prepared statement.

The company said that it released preliminary results related to concussion assessment capabilities for potential severity and the likelihood of prolonged recovery in the journal Computers in Biology and Medicine in January. Results from the study indicated highly significant differences in the BrainScope EEG-based biomarker at the time of injury between 177 concussed patients and controls with no significant differences at when Return-to-Play was clinically determined.

BrainScope added that progressive recovery over time was also objectively demonstrated, and that results supported the hypothesis that some of the more severely injured subjects may have been allowed to return to play too soon.

“We are extremely pleased to have concluded these substantial clinical studies over 4 years, the results of which are extremely exciting as we work in the near-term through appropriate regulatory processes to bring important new concussion assessment capabilities to the market. In particular I want to thank the U.S. Department of Defense, the NFL, GE, and BrainScope investors for their financial support of this major initiative which has yielded such excellent results,” CEO Michael Singer said in a press release

The company said that $9.9 million in funding for the study came from the U.S. Department of Defense. The trial was also supported by private funding and by funds from the NFL-GE Head Health Challenge.

In January, BrainScope said that it won FDA clearance to include a new indication language for its BrainScope One concussion assessment device.

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Appeals court upholds BD win in Retractable Technologies case

Becton Dickinson, Retractable TechnologiesA federal appeals court this week upheld a ruling that Becton Dickinson (NYSE:BDX) owes nothing more in a long-running false advertising claims case brought by Retractable Technologies (NYSE:RVP).

The dispute dates back to 2001, when Little Elm, Texas-based RTI sued BD for patent infringement; that case settled for $100 million in 2004. RTI sued again barely three years later, alleging further patent infringement and anti-trust violations. That case was split, with the anti-trust portion stayed while the patent infringement claims were litigated; in July 2011 a federal appeals court decided that case.

The anti-trust phase began in 2010; eventually BD was found to have made false claims about some of its safety syringes. In September 2013 a jury found for RTI, awarding $113.5 million after finding that BD violated the Lanham Act’s false advertising rules, the Eastern Texas court later trebled that amount, ordering the company to pony up more than $352.2 million in damages.

In December 2016 the U.S. 5th Circuit Court of Appeals overturned the anti-trust ruling but upheld the false advertising claim, sending it back to the U.S. District Court for Eastern Texas for a decision on how much profit BD must disgorge. The Eastern Texas court found the following August that BD needn’t disgorge any more profits to RTI and that prior court rulings already gave adequate relief.

RTI appealed that decision to the 5th Circuit, which in a split decision March 26 upheld the lower court’s ruling.

“The district court’s denial of disgorgement of profits from RTI’s competitor was made against the larger backdrop of its prosecution of a meritless antitrust claim against BD for conduct in the marketplace – during a time in which RTI nearly doubled its own sales and increased its share of the retractable syringe sub-market to two-thirds,” Judge Patrick Higginbotham wrote for the majority. “RTI elected not to test its proof of Lanham Act damages before the jury, but rather to later argue, as now, that equity mandates disgorgement. Its effort to carry the flag of “public interest” and guide the profits of its competitor to its own coffers here must fail. That effort must be taken outside—to the marketplace. There the public interest is best vindicated. The district court did not abuse its discretion.”

Judge James Graves Jr. dissented on the grounds that the Eastern Texas court misjudged how much of RTI’s sales were diverted by BD’s false claims and erred in not finding enough evidence for giving up some profits to RTI.

RTI said it’s evaluating the ruling huddling with its lawyers “regarding possible future action.”

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FDA head Gottlieb pledges to release all adverse event reports

FDA

Outgoing FDA Commissioner Dr. Scott Gottlieb said in a tweet yesterday that the agency plans to release all medical device adverse event reports to the public.

The move comes only weeks after a Kaiser Health News investigation revealed that millions of adverse event reports have been hidden from the public through the agency’s “alternative summary reporting” repository.

“This is an old database where historical information wasn’t easily accessible electronically owing to the system’s age. But it’s imperative that all safety information be available to the public. We’re now prioritizing making ALL of this data available,” Gottlieb wrote in a tweet.

Since 2016, at least 1.1 million such reports have been ingested into the FDA’s “alternative summary reporting” repository, a system inaccessible to the public and so obscure that former agency head Dr. Robert Califf said he’d “never heard anything about it,” according to the KHN report.

Gottlieb is slated to exit his position at the head of the federal watchdog next Friday leaving current National Cancer Institute head Dr. Normal Sharpless, who was tapped earlier this month to serve as acting Commissioner once Gottlieb exits, to handle the release of the previously hidden reports.

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FDA targets safety of medical device materials

Emergo GroupBy Stewart Eisenhart, Emergo Group

US medical device regulators are planning more focused evaluations of materials used in the manufacture of medical devices for safety issues.

Get the full story here at the Emergo Group’s blog.

The opinions expressed in this blog post are the author’s only and do not necessarily reflect those of MassDevice.com or its employees.

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dimecres, 27 de març del 2019

Outcome-based Pricing Initiatives in the Healthcare Industry

By Joe Miles – Global Vice President, Life Sciences (SAP Industries) and Bob Steller – Industry Principle, Life Sciences (Vistex)

A distorted reimbursement model has driven healthcare costs ever higher, and elevated healthcare spend to the top budget item for many governments across the globe. But several major industry players have begun to experiment with outcome-based pricing models as an innovative approach to align reimbursements more closely with positive outcomes, while simultaneously bringing greater stability and predictability to pricing in the life science industry.

Download this eBook to evaluate the current state of reimbursement models, the adjustments that need to be considered, and methods for reform while offering practical alternatives for both outcome-based pricing and payment methods for all stakeholders in the value chain.

Download the eBook  

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Cook Regentic launches ProFusion therapeutic infusion needle

Cook Medical - updated logo

Cook Medical‘s Regentec division said today it launched the ProFusion therapeutic infusion needle designed for the intramuscular or subdermal infusion of therapeutic agents in the U.S. and Canada.

The Indianapolis-based business said that the ProFusion Therapeutic Infusion Needle features multiple sideports arranged in a spiral to aid in the uniform delivery and dispersement of therapeutic agents and a trocar tip to help with placement.

Read the whole story on our sister site, Drug Delivery Business News

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FDA clears first molybdenum rhenium pedicle screw

Mirus

The FDA today cleared Mirus‘s Europea pedicle screw system, which is composed of its MoRe proprietary molybdenum rhenium superalloy, making it the first such device approved with the new class of implant material.

The Atlanta-based medical device company said that the MoRe proprietary alloy is intended to provide improved strength, ductility, durability and biological safety.

“Spine deformity surgery in adults remains plagued by the poor performance of current implants with rod failure occurring in 18%-20% of patients. The MoRe alloy shows great promise in improving the durability of adult spine deformity constructs. This advance will help prevent early revision surgery and improve outcomes in adult deformity surgery in particular,” Dr. Munish Gupta of Washington University said in a press release.

“This new material with its greater strength, fatigue resistance and superior biological properties will allow us to make lower profile foot and ankle implants leading to smaller surgical exposures and reduced revision rates,” Dr. James Nunley of Duke University said in a prepared statement.

Mirus added that it believes the MoRe alloy will allow for a new generation of smaller, stronger, more durable and bio-friendly implants which it hopes will result in less tissue disruption, faster recovery and improved patient outcomes.

“FDA approval of the Europa Pedicle Screw System with our patented MoRe superalloy is the culmination of over ten years of research and development.  Our scientists and engineers working with world class metallurgists have created the greatest advance in medical implant material technology in at least four decades. The MoRe superalloy will revolutionize many aspects of the medical device industry as the first alloy approved by the FDA for use in an implant which is not based on titanium, cobalt or iron with their inherent limitations. The FDA requires a rigorous level of scientific investigation to establish the safety and effectiveness of a spine implant that utilizes a new medical alloy. In response to FDA guidance, our scientific team led by Jordan Bauman, VP of Regulatory, developed a comprehensive body of evidence which served as the basis for approval of this major advance in patient care. We are fortunate to be collaborating with an outstanding worldwide group of orthopaedic and neurosurgeons in developing transformative spine solutions. Additionally, MiRus is rapidly expanding into other orthopaedic applications such as foot and ankle and has made significant progress in cardiovascular applications of the MoRe® superalloy,” founder & CEO Dr. Jay Yadav said in prepared remarks.

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Osiris shareholders sue to block $660m merger with Smith & Nephew

Smith & Nephew to acquires Osiris TherapeuticsA group of Osiris Therapeutics (NSDQ:OSIR) shareholders is suing to block its $660 million acquisition by Smith & Nephew (NYSE:SNN) because the purchase price is too low.

Earlier this month the British orthopedics and wound care giant put $19 per share on the table to acquire Osiris and its regenerative medicine portfolio, representing a 37% premium on the 90-day volume-weighted average for OSIR shares.

The deal is structured as a two-step tender offer, with Osiris chairman & co-founder Peter Friedli agreeing to commit his 30% stake. The acquisition is slated to close during the second quarter, with the 360 people employed by Osiris joining S&N, that company said. Osiris put up profit growth of 334.9% to $36.9 million last year, on sales growth of 20.5% to $142.8 million.

The lawsuit, brought by lead plaintiffs Elizabeth Recupero and Raymond Morrison in the U.S. District Court for Maryland against Friedli and fellow directors Thomas Knapp, Willi Miesch and Charles Reinhart III, alleges that the $19-per-share price “does not adequately reflect Osiris’s future growth prospects.” The suit disputes the calculation by Cantor Fitzgerald, which advised Osiris on the deal, saying that it’s based on revenue projections that are roughly half of the actual revenue growth from the prior four years.

“Over the prior four-year period, Osiris has grown revenues at 20%+ per year. At a valuation of $19.00 per share, Cantor Fitzgerald’s discounted cash flow analysis utilizes management’s projections which reflect revenue growth of just 10%, 10%, 9%, and 9% for 2019, 2020, 2021, and 2022, respectively,” according to the lawsuit. “Using Cantor Fitzgerald’s DCF model and the application of more appropriate revenue growth rates during the forecast period of 15% – 18%, (rather than 9%-10%) results in implied value per share of approximately $24.00, an increase of $5.00 per share over the offer price.”

That would make Osiris worth something more like $834 million.

The lawsuit seeks to block the merger “until such time that the individual defendants have adequately undertaken all appropriate and available methods to obtain a transaction which is in the best interests of Osiris’s stockholders,” according to the compliant.

Should the deal go through, the lawsuit asks the court to rescind the merger and award compensatory and rescissory damages. Either way the lawsuit wants the plaintiff’s legal costs to be covered by the defendants.

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Volpara expands distro deal with GE Healthcare

Volpara Solutions

Volpara Solutions said yesterday that it expanded its distribution agreement with GE Healthcare (NYSE:GE) to include the global distribution of its VolparaDensity software.

Wellington, New Zealand-based Volpara said that its VolparaDensity software is designed to analyze mammograms using machine learning to provide automated, objective and volumetric breast density assessments and a breast density category that correlates to BI-RADS 5th and 5th editions.

“There are still certain signs of breast cancer that are best seen on a mammogram, which is why the Invenia ABUS is used in addition to mammography. ABUS screening helps find cancers hiding in dense tissue. Accurate density measurements and quality imaging are very important in breast cancer detection. I encourage women to learn their breast density, understand their risk, and talk to their healthcare providers to get the personalized healthcare they need,” Dr. Joseph Russo of St. Luke’s University Health Network said in prepared remarks.

Volpara touted that the system has been the subject of more than 100 peer-reviewed papers and 250 publications, and said that it is currently

“We are excited to expand access to VolparaDensity as part of our product portfolio. Now, our customers outside the US will also have access to a proven technology that will help them identify women who may benefit from a supplemental screening modality, such as the Invenia ABUS,” GE Healthcare automated breast ultrasound GM Luke Delaney said in a prepared statement.

“We have had a very productive partnership with GE over the past several years. We are thrilled to expand our agreement beyond the US market, working with GE Healthcare to offer customers a well-researched and widely adopted breast density assessment tool to help them deliver excellent breast health care. Providing an accurate and consistent assessment of breast density is becoming increasingly important to identify women at high risk of developing breast cancer,” Volpara Solutions prez & CCO Mark Koeniguer said in a press release.

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Philips buys Direct Radiology

Philips

Royal Philips (NYSE:PHG) said this week that it acquired teleradiology platform developer Direct Radiology for an undisclosed amount.

The Amsterdam-based company said that with the acquisition it will be expanding into the teleradiology services field, looking to build on its cloud-based radiology informatics portfolio.

New features slated to be added include teleradiology viewing and reporting capabilities, on-call radiologist services and related exam workflow enhancement applications.

Philips said that currently, Direct Radiology services more than 300 hospitals, imaging centers, mobile imaging services and doctors’ offices across the U.S.

“As health systems worldwide struggle with the ever increasing costs and shortage of care providers, teleradiology will be a key enabler to optimally use the available resources, and support radiology departments to improve the speed and accuracy of image interpretation. We see imaging as a system and deliver innovation to support the needs of all the people behind the images by seamlessly integrating technology and data. Our new teleradiology services address a pressing need, while providing a strong platform for Philips’ future growth in the telehealth market,” radiology solutions biz lead Sham Sokka said in a press release.

Earlier this month, Philips released results from a study exploring the use of adaptive servo ventilation in treating patients with complex sleep apnea.

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Analogic escapes Labor Dept. suit over alleged pay discrimination

AnalogicA U.S. Labor Dept. judge last week dismissed a suit the agency brought against Analogic over alleged pay discrimination.

The Labor Dept. sued Analogic in October 2016, alleging that it paid female assembly workers at its Peabody, Mass., headquarters less than their male counterparts after a compliance review by its Office of Federal Contract Compliance Programs.

In a March 22 decision, Administrative Law Judge Colleen Geraghty dismissed the case, ruling that the OFCCP failed to prove that the alleged discrimination took place.

The office “failed to identify the employment practice causing the alleged pay disparity and Analogic successfully challenged the methodology and findings of OFCCP’s statistical evidence,” Geraghty wrote, noting the company’s successful challenge to an OFCCP expert’s statistical analysis with its own review of the numbers.

In June 2018 Altaris Capital Partners closed a $1.1 billion buyout of Analogic after the imaging device maker’s prolonged search for a suitor.

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LivaNova’s CMS vagus nerve depression device trial must include sham arm

LivaNova

A new U.S. Centers for Medicare & Medicaid Services trial of LivaNova‘s (NSDQ:LIVN) Vagus Nerve Stimulation Therapy system intended to treat treatment-resistant depression will require a sham-control arm, doubling the subject population LivaNova originally expected.

The trial, which the London-based company won clearance from CMS for last month, will allow coverage for the VNS devices through a Coverage with Evidence Development framework.

As revealed last month, the trial will be double-blinded, randomized and feature a follow-up of at least one year, the company said.

New data, revealed in a posting on Clinicaltrials.gov, indicate that the trial will seek 1,000 subjects with an estimated start date of this July. LivaNova said last month that it only planned to include 500 subjects in the trial of the device.

All subjects in the trial will be implanted with the VNS system, though subjects in the sham-control arm will not have the device activated for the first 12 months. After the initial trial, patients in the sham arm will be allowed to join the open-label, prospective and longitudinal portion of the study where they will tracked out to five years.

The primary endpoint of the trial will be mainly monitored through scoring on the Montgomery Åsberg Depression Rating Scale, as well as disability assessments, adverse event monitoring and a selection of other physical and mental health assessment criteria.

Last November, CMS proposed a launch of a clinical trial of the VNS system to explore its ability to treat Treatment-Resistant Depression.

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FDA wants to update mammography standards

The FDA today issued a proposed rule that would modernize mammography quality standards and require mammography facilities to provide more information to patients and healthcare providers.

The proposed rule would be the first update in 20 years, amending regulations issued under the Mammography Quality Standards Act of 1992, which authorizes FDA oversight over mammography facilities, including their accreditation, certification, annual inspections and enforcement of standards. The new proposal could help patients and providers make more informed decisions regarding care, and boost the FDA’s regulatory power over the safety and quality of mammography services, the agency said.

The proposed amendments include:

  • Adding specific language about breast density to the mammography results summary letter provided to patients and to the medical report sent to providers.  Mammograms of breasts with a higher proportion of dense fibroglandular tissue compared to fatty tissue can be difficult to interpret because the dense tissue can obscure signs of breast cancer, lower the sensitivity of the image and increase the risk of developing breast cancer.
  • Codifying three more categories for mammogram assessment, including one titled “known biopsy-proven malignancy,” which would help identify for health care professionals cases in which cancer that is being evaluated by mammography for therapy has already been identified.
  • Adding more detailed information about the mammography facility to patient summaries and medical reports for caregivers to aid in post-exam communications.

Proposed changes to boost the FDA’s enforcement powers include:

  • Expressly stating that the FDA can directly notify patients and their health care professionals, should facilities be unwilling or unable to do so, that mammography at a facility did not meet quality standards and that reevaluation or repeat of the mammogram at another certified facility may be needed.
  • Requiring facilities to use only FDA-approved or -cleared digital accessory components for mammography, or that facilities use components that otherwise meet the requirements under the rule.
  • Strengthening record-keeping requirements to minimize information loss and improve access to and transfer of patient mammography records.

“As part of our overall commitment to protecting the health of women, we’re proposing new policies to modernize our oversight of mammography services, by capitalizing on a number of important advances in mammography, like the increased use of 3-D digital screening tools and the need for more uniform breast density reporting,” said FDA commissioner Dr. Scott Gottlieb in a prepared statement. “We’re committed to making sure patients have access to high-quality mammography. Today’s proposed rule would help to ensure patients continue to benefit from advances in new tools and robust oversight of this field.”

According to the National Cancer Institute (NCI), approximately 12.4% of women will be diagnosed with breast cancer at some point during their lifetime. NCI estimates that, in 2018, more than 260,000 women were diagnosed with breast cancer and more than 40,920 women died of the disease. Aside from skin cancer, breast cancer is the most common cancer among women and the second leading cause of death. Mammography can also be an important tool in detecting male breast cancers. According to the NCI, breast cancer may occur in men at any age, but usually occurs in men between 60-70 years of age.

“The FDA is committed to advancing efforts that improve the health of women,” said FDA principal deputy commissioner Dr. Amy Abernethy. “Given that more than half of women over the age of 40 in the U.S. have dense breasts, helping to ensure patient access to information about the impact that breast density and other factors can have on the risk for developing breast cancer is an important part of a comprehensive breast health strategy.”

The proposed rule may be found here and is available for public comment for 90 days from publication.

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3m settles dental crown case for $33m

#m's Lava Ultimate dental crown3M Cos. (NYSE:MMM) agreed to settle a proposed class-action lawsuit brought over alleged defects in its Lava Ultimate dental crown product.

The lawsuit, filed in May 2016 in the U.S. District Court for Minnesota by 39 dentists who used the Lava Ultimate crowns, alleged that they failed at rates that were “orders of magnitude higher than those seen in any other crown material.” More than 1 million Lava Ultimate crowns were sold before 3M pulled the crown indication from the market in June 2015, according to court documents.

“3M represented that its Lava Ultimate restorative product provided dentists and patients with a crown material that had a combination of aesthetics and durability that had previously been unavailable in restorations that were created ‘chairside’ – i.e., at the dentist’s office – during a single visit,” the suit alleged. “The shockingly high failure rates were due to an inherent defect in Lava Ultimate, which made the product inappropriate for the uses for which 3M had previously represented – in particular, Lava Ultimate’s use in dental crowns. All Lava Ultimate crowns contain this inherent defect.”

In March 2018 Judge Donovan Frank tossed claims brought under statutes in various states and struck the plaintiffs’ bid for punitive damages, but allowed other claims to be amended. Although the plaintiffs were seeking to amend the claims Donovan dismissed without prejudice and the case was in discovery, the parties agreed to hire retired Magistrate Judge Arthur Boylan as an outside mediator.

After “rigorous negotiations” over the course of five sessions produced a settlement agreement, earlier this week the plaintiffs asked Frank to approve a deal that would require 3m to create a $32.5 million settlement fund for dentists who experienced at least one de-bonding before June 15, 2020, according to the documents.

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10 women in medtech manufacturing you should know

Women-In-Medtech-2019Women account for nearly one-third of employees in the manufacturing industry, where men have historically held the majority of jobs, according to the U.S. Census Bureau.

The situation includes manufacturers and other outsourcers serving the medical device space.

The lack of diversity is even more apparent farther up the corporate leadership ladder. According to a report from the Centers for American Progress, women hold 52% of professional jobs in the U.S., but only 14.6% of CEOs are women.

The Equal Employment Opportunity Commission also reports that only a fifth of executives, senior officers and managers in the U.S. high-tech industries are women.

To close out Women’s History Month this year, here are 10 women in manufacturing you should know.

Next >>

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DarioHealth, Glytec ink joint marketing deal

DarioHealth, Glytec

DarioHealth (NSDQ:DRIO) said today it inked a joint marketing agreement with Glytec through which DarioHealth’s smart glucose meter will be able to transmit information to Glytec’s Glucommander Outpatient software.

Israel-based DarioHealth said that blood glucose data from its Dario Blood Glucose Monitoring System will now be imported into the Glucommander Outpatient for use in conjunction with other clinical data to create personalized insulin dose recommendations.

Read the whole story on our sister site, Drug Delivery Business News

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CMS touts ‘more flexibility’ in new TAVR coverage requirements

The Centers for Medicare and Medicaid Services have proposed new policy that could expand the use of transcatheter aortic valve replacement procedures, touting that it may provide more flexibility for starting and maintaining TAVR programs.

The original National Coverage Determination for TAVR procedures was cleared in 2012, when the technology and associated procedure was still new. The new policy from CMS looks to update requirements based on new information about the safety and viability of the procedures.

The new proposal, released yesterday, would reduce the number of cardiac surgeons required to independently examine and evaluate patient suitability for open aortic valve replacement surgery or TAVR from two to one.

“We believe this modification is appropriate given the advancements and progress made since 2012 as TAVR becomes more widely performed,” CMS wrote in its proposal.

Volume requirements for existing TAVR programs at hospitals looking to receive CMS reimbursement were raised slightly, according to the new proposal. Previously, hospitals were only required to perform 20 aortic valve replacements per year or 40 per two years – that requirement has been more than doubled to either 50 AVRs per year or 100 AVRs per two years.

For new programs looking to begin TAVR programs, the volume requirements stayed mostly the same, but language was shifted from 50 total AVRs per year to 50 open heart surgeries in the year prior to the program launch and at least 20 aortic valve related procedures in the two years prior to launch.

“When reassessing this requirement, CMS endeavored to balance ensuring hospitals have the experience and capabilities to handle complex structural heart disease cases while limiting the burden and barriers unnecessary requirements may have on both hospitals and patients flexibility. Therefore CMS proposes to maintain the annual volume of cases (≥ 50) in the previous year prior to TAVR but have provided flexibility on how that is met,” CMS wrote in its proposal.

In a press release, CMS said it met with “numerous stakeholders” as it sought new requirements for providers to perform a certain volume of heart procedures. The agency said that the volume procedures are included “given the link between heart procedure volume and patient outcomes in the medical literature and the risks from receiving care in low-volume settings.”

CMS added that it believes the new decisions will provide “more flexibility” in how providers meet those requirements, and that it reflects the “latest evidence on volume and outcomes.”

“CMS must continually refine our policies and requirements in light of emerging evidence. Today’s decision updates the requirements for hospitals and physicians to perform TAVR to ensure these requirements are in line with the latest research on patient outcomes, in order to broaden access to care while safeguarding quality and safety for Medicare beneficiaries,” CMS Administrator Seema Verma said in a press release.

The agency also said it is looking to gather more information about metrics other than volume that could be used to asses quality and safety, and said it is “specifically proposing a question regarding the relationship between other metrics and patient health outcomes, which could inform a future change to replace the volume criteria with a different metric.”

Earlier this month, results from trials of both Medtronic‘s (NYSE:MDT) and Edwards Lifesciences‘ (NYSE:EW) TAVR systems exploring their use in low-risk patients indicated that the devices were as safe as open surgery, paving the way for possible new indications for TAVR technology.

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