Correction, Sept. 17, 2013: Due to a reporter’s error, this article originally stated that SafeStitch raised $160 million. The company instead issued $160 million worth of shares as part of its merger with TransEnterix.
Funding Roundup
Active Implants touts a $26M tranche in support of knee cartilage implant
Orthopedics devices maker Active Implants touted the close of the 1st $8.7 million tranche in a $26 million financing round in support of its NUsurface meniscus implant for repairing damage in the knee.
The Tennessee-based company plans to use the funds to advance clinical trials in pursuit of U.S. regulatory approval, the company said.
Emergent Medical Partners raises $37M fund
Emergent Medical Partners, the venture capital shop led by medical device legend Dr. Thomas Fogarty, raised $37 million from 4 unnamed investors, according to a regulatory filing.
Emergent invests in early-stage medical device outfits, which are often the brainchild of physicians or engineers that Emergent helps develop, according to its website.
Boston Scientific pledges $600k for GI research | MassDevice.com On Call
MASSDEVICE ON CALL — Massachusetts medical device giant Boston Scientific (NYSE:BSX) handed an unrestricted, 3-year $600,000 grant to the American Gastroenterological Assn. in support of ongoing research in GI technology research and education, the AGA announced yesterday.
ALung breathes easy with $16M funding round
ALung Technologies said it raised a $15.8 million Series B1 round it plans to use to accelerate the commercialization of its Hemolung respiratory assist device.
The Pittsburgh-based medical device company said the round was led by Allos Ventures and included West Capital Partners, Birchmere Ventures, BlueTree Capital Group, PLSG Accelerator Fund, Smithfield Trust Company and several private investors.
Hip surgery assist device wins AdvaMed scholarship | MassDevice.com On Call
MASSDEVICE ON CALL — Medical device startup Francis Lamont Innovations took home the grand prize in RCT BioVentures’ scholarship sweepstakes, landing a trip to AdvaMed’s 2013 medtech industry conference and a chance to present its technology in front of an audience of some of the biggest players on the field.
Francis Lamont is developing a novel device that helps orthopedic surgeons perform total hip replacements. The Francis Lamont Orthopaedic Table Extension, or FLOTE, device attaches to the end of any standard operating table and helps to control the position of the patient’s leg during surgery.
Elekta lands $25M Gamma Knife order from China
Diabetes: CeQur closes $27B Series B round
CeQur SA is planning to scale up manufacturing of its PaQ insulin delivery device in Europe with a $27 million Series B round.
The Horw, Switzerland-based company said the round was led by a pair of new, private investors and was joined by all existing backers, including BMC Ventures A/S, Endeavour Vision SA, Schroder & Co. Bank AG and Venture Incubator AG.
Delphinus Medical lands $6M from General Electric
General Electric (NYSE:GE) said its GE Capital arm lent $6 million to Delphinus Medical Technologies for its SoftVue whole breast tomography system.
The loan is aimed at "clinical and early commercialization efforts" for Plymouth, Mich.-based Delphinus, according to a press release.
Hologic lands $32.3M max Defense Dept. contract extension
Sequestration saps 40% of Framingham Heart Study’s budget | MassDevice.com On Call
MASSDEVICE ON CALL — The famed Framingham Heart Study lost 40% of its budget to sequestration, which means layoffs and closures are on the way for the nation’s longest-running cardiovascular disease trial.
The study lost $4 million of its annual $9 million budget thanks to automatic funding cuts that took effect amid federal sequestration, TheHeart.org reported. The next level of contractual funding for the study will go from a 7-year deal to just 2 years, and there will be no funding for examinations.