Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 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.
3. Bankrupt NuOrtho Surgical looks to liquidate
After a 7-year run Fall River, Mass.-based NuOrtho Surgical filed for Chapter 7 bankruptcy, listing liabilities of $4.74 million and assets of $287,117. Nearly 40 patents were also cited in the filing, some of which had been used as collateral.
Three of NuOrtho’s top officers were listed as creditors for deferred salary and/or unreimbursed expenses, including president & CEO Jeffrey Morrill ($351,242); chief clinical officer Wayne Auge ($849,226); and chief development officer Roy Morgan ($595,359). Read more
2. GI Dynamics plunges 50% after FDA halts trial
GI Dynamics said that the FDA halted enrollment in a clinical trial of its EndoBarrier weight loss device after a few patients developed liver infections, sending share prices plunging by 50%.
Lexington, Mass.-based GI Dynamics said the FDA stopped enrollment in its325-patient Endo trial after 4 patients developed bacterial infections known as hepatic abscesses. The trial will continue for the patients GI Dynamics has already enrolled, the company said. Read more
1. Win some, lose some: J&J loses 1st Abbrevo case, holds on to bellwether win
Johnson & Johnson held on to its win in the1st pelvic mesh bellwether to go to trial, but lost a $5.7 million decision in a California state court in a personal injury lawsuit filed over its Abbrevo pelvic mesh product.
A California jury hit J&J’s Ethicon unit with the verdict, after 3 days of deliberation, finding it liable for design problems and failure to warn, according to a lawyer for plaintiff Coleen Perry. Read more