Second Sight eyes $25M funding round | Wall Street Beat Wall Street Beat

Second Sight Medical registered with the SEC for a $25 million offering of equity, debt, options and warrants as it waits for the FDA to decide whether to give the green light to its "bionic eye" retinal implant.

The Sylmar, Calif.-based medical device company filed with the securities watchdog agency yesterday, saying it has yet to sell any of the $1,000 shares in the offering.

Second Sight won a nod from an FDA advisory committee last September. The agency’s Ophthalmic Devices Panel  recommended approval for the Argus II, with caveats. The device, implanted in the eye in front of the retina, uses the video signal from an eyeglass-mounted camera to send input to the retina.

Sign up to get our free newsletters delivered straight to your inbox

The panel said the Argus II, which has been on the market in Europe since March 2011, should be closely tracked once it’s on the U.S. market, should the FDA decide to grant a humanitarian device exemption.

A majority of panelists agreed that Argus II demonstrated a reasonable assurance of safety even though different versions of 2 device configurations were implanted in 30 subjects in the clinical trial; no subjects were implanted with the version of the device proposed for marketing because modifications were made to the implant’s application-specific circuit chip, suture tab and carrier frequency; the testing was non-randomized; evaluators were unmasked; numerous modifications were made to the study protocol during the course of study; and there were a number of protocol deviations.

 Bausch & Lomb looks to possible IPO
Bausch & Lomb is exploring the idea of becoming a public concern again after 4 years under private equity ownership, according to the Wall Street Journal. The optical and ophthalmic device maker hasn’t been able to generate enough interest in a $10 billion buyout, the newspaper reported, citing "people familiar with the matter." 
Read more

 Europe’s healthcare VC investment hits new low

Venture capital investment in healthcare companies hit an all-time low during the 4th quarter last year, with backers putting
€983 million (about $1.33 billion) into 186 deals, for declines of 29% and 30%, respectively, compared with the same period last year.
Read more

 Baxter backs Zytoprotec’s dialysis tech
The venture investing arm of Baxter (NYSE:BAX) put € (about $2.7 million) into Zytoprotec and its novel peritoneal dialysis device that uses active cytoprotection, part of a €4 million ($5.4 million) Series A round.
Read more

 GE Capital shepherds $9M credit line for Tyrx
GE (NYSE:GE) Capital’s Healthcare Financial Services said it served as agent for an $8.5 million senior secured credit facility for medical device company Tyrx, including a $7 million term loan and a $1.5 million revolver.
Read more

 Analysts’ ups and downs

  • Boston Scientific (NYSE:BSX): J.P. Morgan reiterates "neutral" rating, raises price target from $6.50 to $7.
  • Mako Surgical (NSDQ:MAKO): Piper Jaffray reiterates "overweight" rating, lowers price target from $28 to $23.

RSS From Medical Design & Outsourcing

  • GlobTek presents its latest level VI AC/DC adapter and connverter
    T-43086-WWVV-X.X-Q Model is an addition to GlobTek’s Level VI compliant GT-43086 family and represents GlobTek’s 6 Watt wall plug-in series of AC/DC adapters (power supplies and chargers) with International Interchangeable blades. GlobTek’s changeable input blade system with individual field replaceable input plugs, including: North America and Japan NEMA 1-15P, Australian, UK BS 1363, European CEE […]
  • Sanmina’s familiarity with FDA gets skin treatment product to market fast
    The medical market for cosmetic devices is booming. However, quickly launching new products to meet demand is becoming more challenging because device manufactures face increased regulatory scrutiny. To help meet regulatory requirements, aesthetic and other medical-device OEMs are partnering with electronics manufacturing services (EMS) companies that also offer expertise with the FDA filings necessary to […]
  • Fluid connectors and quick disconnects for IVD equipment from CPC
    Colder Products Company (CPC) offers thousands of tubing connectors, quick disconnects and fittings for smart fluid handling in IVD and analytical equipment. Non-spill connectors speed testing throughput by eliminating drips, preventing air inclusion and increasing operator safety. Panel mount connectors can be added to existing equipment or bottle caps to provide secure, leak-free connections. Puncture […]
  • 310 Watt desktop medical power supply meets efficiency level VI requirements
    Power Partners releases a new 310 Watt medical grade desktop power supply from their PEAMD Series of AC and DC adapters. The 310 Watt unit is packed for ideal performance inside a compact case measuring 7.8 x 4 x 2 in. with a weight of only 3 lbs. The PEAMD310 Series is approved to the latest […]
  • Saelig introduces Multiple Instrument System MIS4 universal test system
    Saelig Company has introduced the ABI Electronics’ Multiple Instrument Station MIS4, an all-in-one testing tool that provides all commonly required test instruments in one compact programmable hardware module, mounted in a compact case or installed in a PC-drive bay. Controlled by ABI’s sophisticated SYSTEM 8 Ultimate PC software with a simple yet programmable operator interface, […]
  • AssurX announces document management software update for small to mid-size companies in FDA regulated industries
    AssurX, an enterprise quality management, risk and regulatory compliance solution provider, announces the release of the latest update to their AssurX document management software. The document management solution provides a cost-effective solution for small to medium sized companies faced with streamlined operations and is fully compliant for FDA regulated industries. Ideal solution for small to […]
  • Saelig presents new Amplicon Impact-R 1100F series computer
    Saelig Company announces the Amplicon Impact-R 1100F series, a fanless system powered by the Intel ATOM D2550 processor. Configured with a high performance 2.5 in. MLC Solid State Drive (SSD), the Impact-R 1100F series is a silent controller system. With options for multiple serial communication ports, the Impact-R 1100F can offer up seven DB9 connections […]
  • Gerresheimer to acquire Centor
    Gerresheimer AG, a partner to the global pharmacy and healthcare industry, will further extend its pharmaceutical packaging business with the acquisition of Centor. Gerresheimer has reached an agreement with Nemera Development S.A. to acquire 100% of the share capital of Centor US Holding. “Centor is the highly profitable market leader for plastic vials and closures in […]
  • Methods Machine Tools presents the new Nakamura-Tome NTRX-300
    Methods Machine Tools, a developer of precision machine tools and automation, has introduced the new Nakamura-Tome NTRX-300, a multitasking turning center featuring complete parts machining in one operation, with a built-in load and unload automation system and advanced operator recognition management software. The NTRX-300 features true opposing twin spindles: an 8 in. A2-6 25 HP or […]
  • MSC Apex Diamond Python and Smart Midsurface speeds modeling to validation
    MSC Software announced a new release of MSC Apex, the company’s award-winning next generation Computer Aided Engineering (CAE) platform. The MSC Apex Diamond Python release introduces: · The fourth release of MSC Apex Modeler is a CAE Specific direct modeling and meshing solution that streamlines CAD clean-up, simplification and meshing workflow. New in this release is […]
  • Quality Metrics: FDA’s plan for a key set of measurements to help ensure manufacturers are producing quality medications
    Editor’s Note: This article is written by Ashley Boam and Mary Malarkey from the “FDA Voice” blog. Boam is an FDA’s acting Director of the Office of Policy for Pharmaceutical Quality, the Office of Pharmaceutical Quality and the Center for Drug Evaluation and Research. Malarkey is an FDA’s Director if the Office of Compliance and Biologics Quality […]

Leave a Reply