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. Researchers uncover hackable ‘fatal flaws’ in defibrillators
Exploitable cybersecurity flaws that could be fatal were found in 10 different implantable medical devices, according to a new report from a European research team.
Researchers at Belgium’s KU Leuven University examined 10 device, specifically implantable cardioverter defibrillators. The team used only commercial, off the shelf items and had no prior knowledge of the devices, but were able to break the device’s supposedly secure communications protocols. Read more
4. Impel NeuroPharma closes $36m series C round for intranasal CNS treatments
Impel NeuroPharma Inc. said today that it closed a $36 million series C financing round to fund its pipeline of precision olfactory delivery (POD) intranasal devices. Life science firms venBIO, 5AM Ventures and Vivo Capital made investments in the round. Seattle-based Impel will get $21 million upfront and $15 million after it reaches development and business milestones.
Impel’s POD nasal devices are designed for improved bio-distribution, bio-availability and decreased dose-to-dose variability of small molecules and biologic drugs. The device delivers drugs to the upper nasal cavity, taking advantage of the vascular rich olfactory region and targeting the brain using the olfactory and trigeminal nerves. The company is developing combination products for migraine, Alzheimer’s and Parkinson’s disease. Impel said that it expects new indications will enter the clinic next year. Read more
3. Hedge funds betting on J&J after Actelion remains silent on takeover bid
Despite reports this week that Actelion Pharmaceuticals rejected Johnson & Johson‘s 2nd takeover bid, hedge funds are piling into the Swiss biotech firm, encouraged by Actelion’s silence on the matter.
The 2 companies have been engaged in informal talks for 2 months, according to Reuters, and the latest offer was pegged at 250 Swiss francs per share. J&J’s $270 billion bid for Actelion is tempting to shareholders, who would rather have the cash now than wait and bet on Actelion CEO Jean-Paul Clozel’s risky pipeline for therapeutics of rare diseases. Read more
2. Boston Scientific buys Neovasc’s biotissue biz for $75m
Boston Scientific and Neovasc announced a $75 million deal today for the Neovasc biological tissue business that makes components for Boston Scientific’s Lotus replacement heart valve.
The deal, slated to close by the end of the year, also includes a 15% stake in Neovasc, the companies said. Boston Scientific agreed to put up $67.9 million for the biotissue assets and to buy some 11.8 million shares of NVCN stock at 60¢ apiece, for a total of $7.1 million, Neovasc said. Read more
1. Jury levels $1B verdict against J&J’s DePuy Ortho in Pinnacle hip bellwether
A federal jury in Dallas today ordered Johnson & Johnson and its subsidiary DePuy Orthopedics to pay more than $1 billion to 6 plaintiffs claiming to be injured by its Pinnacle metal-on-metal hip implants, according to the plaintiffs lawyers.
Jurors in the case found that the metal-on-metal pinnacle hip implants were designed defectively and that the companies failed to appropriately warn patients of the risks associated with the devices. Plaintiff’s lawyer Mark Lanier said the $1.041 billion verdict included $32 million in compensatory damages and the remainder in punitive damages. Read more
The post MassDevice.com +5 | The top 5 medtech stories for December 2, 2016 appeared first on MassDevice.
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