Axios reports that British medtech company Phagenesis confirmed that it raised $42 million in a Series D financing round. The outlet says CEO Reinhard Krickl confirmed the Manchester, U.K.–based company’s latest funding. According to the report, EQT Life Sciences and Sectoral led the round, with new investors British Parent Capital, Northern Gritstone and Aphelion joining […]
Neuromodulation/Neurostimulation
Medtronic wins FDA clearance for bone tumor ablation tech
Medtronic announced today that it received FDA 510(k) clearance for its OsteoCool 2.0 bone tumor ablation system. The medtech giant designed OsteoCool 2.0 to treat painful bone metastases and benign bone tumors like osteoid osteoma. The minimally invasive procedure uses probes to deliver radiofrequency energy that heats and destroys tumors. Meanwhile, it circulates water to […]
ClearPoint Neuro prices $15M offering
ClearPoint Neuro (Nasdaq:CLPT) announced today that it priced an underwritten public offering worth approximately $15 million. The company is offering 2,307,694 shares of its common stock at a price to the public of $6.50 per share. It also granted the underwriter a 30-day option to purchase up to an additional 346,154 shares of common stock […]
Onward wins FDA breakthrough nod for use of neurostim with brain-computer interface
Onward Medical announced today that the FDA granted breakthrough device designation for its ARC-BCI system that uses brain-computer interface (BCI) technology. ARC-BCI uses BCI technology in conjunction with ARC-IM neurostimulation. It aims to restore thought-driven lower limb mobility after spinal cord injury (SCI). The BCI system uses AI to decode brain signals and translate them […]
Medtronic asks ITC to stop Axonics’ sales of neuromod devices
Medtronic today announced that it filed a complaint to the U.S. International Trade Commission (ITC) to block the sales of certain Axonics (Nasdaq:AXNX) devices. The complaint to the ITC runs parallel to action in the U.S. District Court for the District of Delaware. Medtronic wants to block Axonics from “improperly importing and selling products that infringe […]
BlueWind reports first patient treated in study of neuromod for urinary incontinence
BlueWind Medical announced today that a doctor treated the first patient in the RESTORE study of its Revi iTNM device. Dr. Osvaldo Padron of Florida Urology Partners in Tampa, Florida, treated the first patient. The prospective, multi-center, open-label, post-market, randomized controlled trial aims to recruit 150 patients across up to 20 U.S. centers. BlueWind designed Revi […]
Mainstay Medical raises $125M for neurostim tech
Mainstay Medical announced an equity financing worth $125 million set to support the commercial growth of its neurostimulation technology. The company plans to put its new funds toward commercializing its ReActiv8 system in the U.S., Europe and Australia. It also has eyes on using the money for post-market clinical studies and research, plus general operations. […]
LivaNova stock rises on strong Q4, massive bottom-line uptick
LivaNova shares got a boost today on fourth-quarter results that came in well ahead of the consensus forecast. Shares of LIVN ticked up nearly 9% at $57.28 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 0.4%. The London-based medtech company […]
NeuroMetrix to review strategic options
NeuroMetrix said on Tuesday that it initiated a process to review strategic options to grow its neuromodulation and neurodiagnostic businesses. The Woburn, Massachusetts-based company wants to promote the growth of its Quell and DPNCheck offerings and maximize shareholder value. It said it plans to consider a wide range of options. That could include marketing strategies, […]
FDA approves MRI labeling on Mainstay Medical’s ReActiv8 restorative neurostimulation system
Mainstay Medical this week announced it received FDA approval for MRI labeling on its ReActiv8 restorative neurostimulation system. The approval allows patients implanted with the 45 cm ReActiv8 leads to be eligible for full-body MRI scans. Patients will be able to undergo 1.5T full-body MRI scans. Specific scan conditions and safety information are provided in […]
LivaNova to lay off 137 in Pennsylvania
LivaNova plans to lay off 137 employees at its Pittsburgh, Pennsylvania location by the end of this year. Shares of LIVN fell 0.7% at $50.37 apiece in midday trading today. The Pennsylvania Dept. of Labor and Industry included LivaNova in its January notices under the Worker Adjustment and Retraining Notification (WARN) Act. Layoffs began taking […]