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Medical Device Industry News

The MassDevice Weekly Checkup: March 16, 2010

March 15, 2010 by MassDevice

Our Weekly Checkup takes the temperature of the medical device industry's three largest U.S. clusters: Massachusetts, California and Minnesota.

The MassDevice Indices are weighted according to market capitalization, based on the number of shares outstanding for each company from its most recent quarterly report and each Friday's closing share price.

MassDevice index Massachusetts
The Massachusetts index for the week ended March 12 closed at 6.03, up 10.4 percent compared with the prior week. Since Jan. 1, 2009, when we began tracking these companies, the index has risen 36.0 percent.

Obama presses healthcare reform case on the stump in Ohio

March 15, 2010 by MedCity News

President Barack Obama took to the stump in Ohio to press for the passage of healthcare reform.

Obama presses healthcare reform case in Ohio

By Mary Vanac

The Strongsville, Ohio, crowd warming up for a speech today by President Barack Obama knew what it wanted. Healthcare.

So did dozens of protesters who lined Royalton Road with colorful, waving signs. Most of them wanted the president of the United States to take his ideas for health insurance reform back to Washington.

There was an edge of urgency to the the Strongsville crowd, unlike the crowd at Shaker Heights High School that had warmly welcomed the president in July 2009, when he hosted a healthcare "Town Hall" meeting there. President Obama seemed to feel a heightened sense of urgency too.

Z-Medica pledges $25k to Marietta College veterans fund

March 15, 2010 by MassDevice staff

Medical device maker Z-Medica of Wallingford, Conn., pledges $25,000 to the Yellow Ribbon program at Marietta College in Ohio, to help pay for veterans' tuition expenses.

Z-Medica logo

Z-Medica Corp. pledged to donate $25,000 to the Ohio alma mater of its co-founder to help veterans defray the cost of tuition.

The Wallingford, Conn.-based medical device maker established the "QuikClot Grant," named for its blood-clotting agent, in support of Marietta College's Yellow Ribbon Program, which gives veterans the chance to attend the college on full scholarships. The program covers costs that aren't paid for by GI Bill benefits.

HistoRx lands $1.5 million loan from Connecticut Innovations

March 15, 2010 by MassDevice staff

New Haven-based cancer therapy diagnostics firm HistoRx Inc. lands a $1.5 million loan from Connecticut's quasi-public life sciences initiative.

HistoRx logo

HistoRx Inc., a cancer therapy diagnostics firm based in New Haven, won a $1.5 million loan from Connecticut's quasi-public life sciences initiative.

HistoRx is developing what it calls AQUA, technology designed to assess the potential effectiveness of cancer drugs and predict patients' responses to the treatments. The system uses fluorescence-based image analysis and automated microscopy to measure protein molecules. Connecticut Innovations, the quasi-public equivalent of the Mass. Life Sciences Center, is loaning the company $1.5 million to build out laboratory space and buy equipment.

EnteroMedics gears up for another run at FDA approval

March 15, 2010 by MedCity News

EnteroMedics Inc. is preparing for another clinical trial of its Maestro neurostimulation implant in treating obesity, after disappointing results of a trial last year sent its stock plunging 80 percent.

ETRM logo

By Thomas Lee

Someday, in the not-so-distant future, EnteroMedics Inc. (NSDQ:ETRM) officials might look back at late 2009 and laugh. Or cry.

That ultimately depends on whether the Food & Drug Administration approves or rejects the company’s groundbreaking Maestro device. Approval likely means enormous financial success, on the back of the only implantable neurostimulation device in the U.S. designed to treat obesity. Rejection would probably send EnteroMedics — and millions of investment dollars and years of painstaking research — down the tubes.

Device giants tout trial results at ACC conference

March 15, 2010 by MassDevice staff

The biggest names in medical devices, including Boston Scientific, Abbott and Medtronic, tout data from studies of their cardiovascular devices at the American College of Cardiology's 59th annual scientific session in Atlanta.

ACC logo

The biggest names in the medical device world are busy touting the results of several clinical trials of their cardiovascular products, with more to come from the American College of Cardiology's 59th annual scientific session.

Companies including Abbott (NYSE:ABT), Medtronic (NYSE:MDT) and Boston Scientific Corp. (NYSE:BSX) are making presentation after presentation at the Atlanta conference, hoping to drum up abuzz among the attending surgeons.

Boston Scientific's Taxus Element stent Taxus Express2

FDA panel narrowly clears Medtronic DBS device

March 15, 2010 by MedCity News

A special panel convened by the Food & Drug Administration narrowly cleared Medtronic's Activa DBS deep-brain stimulation device for treating epilepsy, despite concerns over its efficacy and safety.

MedCity news logo

By Thomas Lee

A Food & Drug Administration panel narrowly approved a deep brain stimulation device developed by Medtronic Inc. (NYSE:MDT) to treat epilepsy.

The panel voted 7-5 to green-light the Activa DBS, which uses electricity to stimulate the anterior nucleus region of the brain. The panel’s findings are not binding on the FDA, but the agency almost always follows the recommendations of such bodies.

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