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. Titan Medical prices overnight offering
Titan Medical today priced an overnight offering at 46.1¢ (C60¢) per unit, saying it plans to use the proceeds to continue developing its Sport robot-assisted surgery platform.
Each unit in the offering consists of a share of stock and a 5-year warrant to buy another share at 57.6¢ (C75¢). Toronto-based Titan did not say how many units it planned to float in the offering or how much it hopes to raise. Read more
4. AcuFocus raises $66m
AcuFocus, which makes the Kamra eye inlay for treating nearsightedness, said it raised $66 million in a new round of financing with funds slated to support accelerated commercialization of its products.
The round was led by global investment firm KKR, Irvine, Calif.-based AcuFocus said. Read more
3. Avedro taps Visiogen founder Zadno for CEO
Avedro said it named the founder, president of Abbott acquisition Visiogen, Reza Zadno, to be its new CEO.
Zadno replaces CFO/COO Brian Roberts, the former CFO at Insulet, who stepped in on an interim basis when David Muller bowed out shortly after Avedro closed a $32 million equity round in November 2015. Read more
2. OEMs get in on $10m Series C for biosensor maker HMicro
HMicro said today that “dominant strategic OEM partners” joined a $10.2 million Series C round for the biosensor platform it’s developing for commercialization. Read more
1. Obalon Therapeutics reveals PMA for weight-loss balloon with $75m IPO registration
Obalon Therapeutics today registered for an initial public offering worth as much as $75 million, revealing in the process that it won pre-market approval from the FDA for its ingestible, gas-filled weight-loss balloon and plans to have it on the U.S. market in early 2017.
Carlsbad, Calif.-based Obalon said the PMA is for temporary use to facilitate weight loss in obese adults with a body mass index of 30 to 40, who have failed to lose weight through diet and exercise. The device is designed to be swallowed in a capsule; once it hits the stomach, it inflates with gas, partially filling the stomach to help patients feel full and eat less. Up to 3 balloons may be added during treatment, after which they’re removed via an endoscopic procedure not more than 6 months later. Read more
The post MassDevice.com +5 | The top 5 medtech stories for September 9, 2016 appeared first on MassDevice.
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