Category: Optical / Ophthalmic

FDA grants pSivida, Alimera expedited review for macular degeneration treatment

August 31, 2010 by MassDevice staff

The Food & Drug Administration put pSivida Corp. (NSDQ:PSDV) and Alimera Sciences Inc. (NSDQ:ALIM) on the fast track, granting an expedited review for their drug/device combination designed to treat diabetic macular edema.

Watertown, Mass.-based pSivida and Alpharetta, Ga.-based Alimera filed a new drug application with the FDA in June for Iluvien, a sustained release drug delivery system that delivers flucocinolone acetonide, a steroid, for the treatment of DME.

Nomir Medical, law firm feud over patent lapses

August 27, 2010 by MassDevice staff

Nomir Medical Technologies Inc. and its former patent law firm, McDermott Will & Emery LLP, are trading accusations in a nasty spat over patents Nomir accuses the law firm of allowing to lapse.

Waltham, Mass.-based Nomir sued MWE in July, accusing the firm of "negligence, fraud, negligent misrepresentations, breach of fiduciary duty, breach of contract, breach of the implied covenant of good faith and fair dealing and unfair and deceptive practices," according to court documents, for failing to file documents with the U.S. Patent and Trademark Office needed to protect Nomir's intellectual property.

Novartis wraps up controlling stake in Alcon, but merger still on hold

August 26, 2010 by MassDevice staff

Novartis AG (NYSE:NVS) is now a majority stakeholder in Alcon Inc. (NYSE:ACL), after closing a deal with Nestlé S.A. (EUREX:NESN) for its stake in the Swiss ophthalmic care company.

In a deal that Basel, Switzerland-based Novartis sees as step towards a merger with Alcon, it paid $28.3 billion for 156 million shares of the company, bringing its share to 77 percent.

Anew Optics sees $1 million from equity sale

August 10, 2010 by MassDevice staff

Anew Optics Inc. raised $952,000 from a $2 million equity round.

The stealthy, Newton, Mass.-based developer of implantable artificial eye lenses raised the money from 10 individuals in minimum investments of $10,479, according to a Securities & Exchange Commission filing.

The filing specifies that the funding will go towards $240,000 in salaries for president and CEO Anna Hayes and the company's yet-to-be-named CTO.

pSivida makes Russel Investment's microcap index

August 9, 2010 by MassDevice staff

pSivida Corp. (NSDQ:PSDV) is touting its inclusion on Russell Investment Group's Microcap Index.

According to the Watertown, Mass.-based maker of eye therapy implants, their selection means automatic inclusion in the "appropriate growth and value style indexes."

Alcon posts double-digit Q2 sales, earnings increases

July 27, 2010 by MassDevice staff

Alcon Inc. (NYSE:ACL) posted double-digit sales and earnings increases during the second quarter, as revenues rose 12.5 percent and profits rose 15.1 percent.

The Huenenberg, Switzerland-based ophthalmic devices giant reported net earnings of $670 million, or $2.21 per diluted share, on sales of $1.89 billion for the three months ended June 30. That compares with net earnings of $582 million, or $1.94 per diluted share, on sales of $1.68 billion during the same period last year.