Category: Business/Financial News
Wilmington polymer materials maker’s CFO, Eric Walters, resigns and is replaced by David Volpe.
AdvanSource Biomaterials Corp. appointed a new interim CFO after the departure of Eric Walters, who resigned to pursue “other personal interests.”
The Wilmington polymer materials maker named David Volpe as interim CFO.
The Rockefeller family's venture capital arm seeds its healthcare growth fund with nearly $200 million.
Venrock raised nearly $200 million to seed its healthcare venture capital fund and add to its portfolio of 39 healthcare companies.
The VC shop, originally formed as the Rockefeller family's venture vehicle, has offices in Cambridge, Palo Alto, Israel and New York City. With the closing of its latest healthcare fundraising round, Venrock has about $2.2 billion at its disposal.
South Easton lab equipment maker lays off 40 percent of its staff and sells off equity to boost dwindling cash reserves.
Strapped for cash after burning through more than 80 percent of its bank account in 2008, Pressure BioSciences Inc. was forced to cut nearly half of its staff in the fourth quarter.
Company officials at the South Easton lab equipment maker called the three-month period ended Dec. 31, 2008, an "extremely difficult" period, citing mounting cash concerns as the reason for shedding eight of its 20 employees.
Companies making tissue-regenerative products can expect a boom market over the next five years, according to Life Science Intelligence.
The global market for tissue-regenerative products could enjoy a growth rate of 16 percent a year through 2013, when it might be worth more than $118 billion, according to market research firm Life Science Intelligence.
According to the group’s Worldwide Markets and Emerging Technologies for Tissue Engineering and Regenerative Medicine, the global tissue engineering and regenerative medicine market was worth about $1.5 billion last year. If it grows at a 16 percent clip, the market should reach $1.7 billion this year and top $2 billion in 2010.
Boston endoscopic instrumentation and medical imaging products manufacturer earns a “No Action Indicated” mark from the federal Food and Drug Administration.
Solos Endoscopy Inc. passed muster during an inspection by the federal Food and Drug administration, earning a “No Action Indicated” mark from the agency.
The Boston-based device maker, which manufactures endoscopic instrumentation and medical imaging products, said the FDA found no problems during its Level II baseline inspection.
Boston-based cardiac implant maker looks to cut costs by $1 million annually after posting dismal results for fiscal 2008.
NMT Medical Inc. has already embarked on a series of restructuring moves--including an unspecified number of layoffs--aimed at cutting its annual burn rate by $1 million.
The size and the scope of the workforce cuts, which NMT said were put in place in January, were not disclosed. NMT, which recently ousted CEO John Ahern after eight years at the helm, employs about 110 people.
Company officials announced the cost-saving moves in an earnings release March 3.
Tewksbury cardiac diagnostic product maker cites positive results in a study of its heart attack forecast test.
Cambridge Heart Inc. is touting a study of a test it says can accurately predict the risk of a sudden heart attack.
The Tewksbury-based maker of cardiac diagnostic products said it published four papers in support of the Microvolt T Wave Alternans test.
Dr. Stefan Hohnloser, director of electrophysiology at the J.W. Goethe University's cardiology department in Frankfurt, Germany, performed a “meta analysis” of 13 clinical studies involving 6,000 heart patients.