The bizarre saga of biotech executive Frank Reynolds took another turn today when federal authorities arrested the PixarBio (OTC:PXRB) CEO and two associates on securities fraud charges, claiming they misled investors about its opioid substitute and falsely claimed a $1 billion valuation. PixarBio is purportedly developing a drug to replace morphine and other opiates, but prosecutors alleged […]
Boston Scientific touts 1-year data on Vercise DBS in Parkinson’s
Boston Scientific (NYSE:BSX) today released one-year data from a study of its Vercise deep-brain stimulation device in treating Parkinson’s disease. Vercise, which is based on cochlear implant technology, is designed to stimulate a targeted region of the brain via independently controlled leads. The 292-patient Intrepid trial of subjects with advanced, levodopa-responsive Parkinson’s is a double-blind, sham-controlled study with a […]
Philips gains on Q1 results
Royal Philips (NYSE:PHG) shares closed up today in Amsterdam and had gained nearly 5% on Wall Street after the Dutch healthcare conglomerate reported better-than-expected profit numbers for the first quarter. Philips posted profits of €124 million ($151.5 million), or €0.13 per share, on sales of €3.94 billion ($4.81 billion), for a bottom-line slide of -52.1% compared with Q1 […]
Laborie Medical closes $214m Cogentix buy
Laborie Medical Technologies said today that it closed the $214 million acquisition of Cogentix Medical (NSDQ:CGNT). With about 85% of the urology and gynecology device maker’s shares tendered over the weekend, meeting the minimum tender requirement, the stage was set for the deal to close today. The $3.85-per-share cash tender pulled in some 51.5 million shares, for about $198.2 million, […]
Cheetah Medical raises $7m
Cheetah Medical said last week that it raised $7 million in an equity round. The Newton, Mass.-based company makes noninvasive hemodynamic monitoring devices using an algorithm designed to allow physicians to examine a patient’s full hemodynamic profile. In a regulatory filing, Cheetah Medical said 16 unnamed investors participated in the round, with the first sale coming April […]
FDA OKs Opus breast implant line from Sientra
The FDA this week granted a pre-market approval supplement to Sientra (NSDQ:SIEN) for its Opus line of silicone breast implants. The implants are made in Wisconsin by Lubrizol LifeSciences subsidiary Vesta, which inked a contract manufacturing deal with Sientra back in August 2016. Sales of Sientra’s silicone breast implants ground to a halt in the autumn of 2015, when […]
GE Healthcare’s sales, profits up in Q1
GE Healthcare (NYSE:GE) posted gains to its top and bottom lines during the first quarter, as its corporate parent topped Wall Street’s earnings forecast despite lower-than-expected sales. Little Chalfont, U.K.-based GE Healthcare posted profits of $735 million for the three months ended March 31, up 11.2% compared with Q1 2017, on sales growth of 9.2% to […]
Allergan, Takeda spar for Shire
Allergan (NYSE: AGN) today confirmed that it’s in the running to acquire Shire (NSDQ:SHPGY), which rejected a $63 billion offer from Takeda Pharmaceutical (TYO:4502). Dublin-based Allergan, which is in the process of slashing 1,400 jobs from its payroll and exploring “strategic actions,” said there’s no guarantee it will make an offer for Shire. Get the full story at our sister […]
Emboline raises $10m Series B for TAVR embolism filter
Emboline said today that it pulled in a $10 million Series B round for the namesake embolic protector it’s developing for heart valve replacement procedures. The Emboliner catheter is designed to prevent blood clots from passing into the cerebral vasculature during transcatheter aortic valve replacements. Santa Cruz, Calif.-based Emboline said the round includes $3 million from a […]
FDA warns against endoscope connectors
The FDA yesterday warned healthcare providers against using endoscope connectors in more than one patient without reprocessing, saying it hasn’t seen any acceptable tests demonstrating their safety. The federal safety watchdog said the connectors, which are used in more than one patient for gastrointestinal endoscopies over the course of 24 hours, connect the endoscope to […]
European Patent Office revokes Edwards Lifesciences patent in TAVR spat with Boston Scientific
Boston Scientific (NYSE:BSX) said today that the European Patent Office revoked a patent owned by Edwards Lifesciences (NYSE:EW) in the latest round of their ongoing spat over transcatheter aortic valve replacements. In March 2017 a German court issued a mixed decision in the international battle over transcatheter aortic valve replacement patents between the two companies, less than a week after a […]
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