Watertown, Mass.-based Arsenal Medical received a $15.5 million Phase II contract from the Defense Advanced Research Projects Agency to support its wound management product.
The foam-based product could help combat medics control hemorrhaging in the intact abdominal cavity and reduce battlefield mortality, a large percentage of which is caused by internal bleeding from abdominal injuries, according to a press release.
Marlborough, Mass.-based medical device company Boston Scientific is 1 of the Emerald Isle’s largest employers, with a 4,500-employee workforce there.
Cerapedics said it closed a Series C equity round worth $19 million, led by new investors MedImmune Ventures and CVF LLC, an affiliate of Henry Crown & Co.
Existing backers OrbiMed Advisors and NGN Capital also participated, according to a press release.
The Princeton, N.J.-based medical device company said it plans to use the $33.8 million in net proceeds from the $36.4 million offering to further develop its lead drug candidate DSC127.
Derma Sciences said the drug is being designed to treat chronic diabetic foot ulcers.
Innovative Trauma Care raised $3.6 million in a Series A financing round in support of commercialization of the company’s 1st product, a device used to treat massive hemorrhaging.
The company’s It ClampTM hemorrhage control system creates a temporary pool of blood under pressure that forms a stable clot until a wound is surgically repaired, capable of controlling bleeding in as little as 5 seconds, according to the press release.
SurgiQuest closed an $18.5 million Series D financing round, raising funds through a mix of equity and debt financing.
The Milford, Conn.-based medical device company develops technology for laparoscopic procedures, with features designed to remove electrosurgical smoke and keep endoscopic imaging instruments’ field of vision clear.
Hypertension treatment devices maker Kona Medical closed a Series C funding round totaling $40 million in support of its ultrasound-based renal ablation systems.
Unlike other renal ablation systems, Kona’s Surround Sound device uses external ultrasound to non-invasively target the nerves leading to and from the kidney, according to a press release.
Abbott (NYSE:ABT) said its board of directors approved the spinout of its branded pharmaceuticals business as AbbVie Inc. in which Abbott’s shareholders will receive an AbbVie share for each ABT share they own.
The distribution is slated for Jan. 1, 2013, for shareholders of record as of Dec. 12, according to a press release.
Medical device venture capital funding took a harsh turn for the 3rd quarter of 2012, with a 37% drop in dollars spent since the previous quarter, according to a PricewaterhouseCoopers report.
The medtech sector fell from its 2nd place seat for sectors collecting the most VC dollars to 6th, with funding lower than it’s been since 2004.
The industry collected $434 million over 65 deals in Q3 2012, a 42% year-over-year decline in spending and a 27% drop in the number of deals.