The Medical Device Business Journal — Medical Device News & Articles | MassDevice
The Massachusetts Life Sciences Center opened submissions for its 2011 tax incentive program this month, through which it will offer up to $25 million in rewards to companies engaged in life sciences research and development, commercialization and manufacturing in the Bay State.
MLSC is a quasi-public created by Mass. State legislature in 2006, tasked with administering the $1 billion allocated by Gov. Deval Patrick’s life sciences bill.
Delcath Systems Inc. (NSDQ:DCTH) closed its offering of 5 million shares of common stock with a reported $23.5 million raised.
Shares sold for $5.05, driving down the company’s shares 14 percent on The Street, from a closing price of $5.87 on July 14, the day of the offering, to $5.06 by the end of the day July 15.
Transcend Medical Inc. closed a second tranche of its series B financing round, bringing its total take to $51 million.
The Menlo Park, Calif.-based company develops ophthalmic devices for minimally invasive glaucoma therapies, and plans to use the newly raised funds for development of additional infrastructure and resources for a U.S. study of its CyPass micro-stent technology, as well as for development of next-generation glaucoma therapies.
ConforMIS Inc. is on a roll the announcement that it secured a $1.4 million loan from MassDevelopment’s Emerging Technology Fund.
The loan will go toward growing the Burlington, Mass.-based company’s supply chain and manufacturing capacity for its iTotal customized knee replacement system.
Avedro Inc. landed $25 million in a series C financing round, company officials announced yesterday.
The Waltham, Mass.-based company will use the funds to expand its commercial operations overseas.
Avedro, a private company, also plans to pursue U.S. Food and Drug Administration clearance for its Vedera cornea flattening treatment, designed to treat near-sightedness, and its KXL corneal cross-linking system.
The KXL system won CE Mark approval in the European Union in November 2010.
Mauna Kea Technologies announced a successful initial public offering, beating its projections to close at just over $70 million.
The offering closed July 4, right on schedule, and its global placement was more than five times oversubscribed. Trading begins on the NYSE Euronext in Paris today in the form of promises of shares.
Mendor, a Finish diabetes technologies and services company, raised $11.7 million in a Series B financing round, aiming for global expansion.
Funding was led by Finnish entrepreneur and investor Risto Siilasmaa, joined by Life Sciences Partners (LSP), Finnish Industry Investment Ltd., Finnish Mutual Pension Insurance Company Ilmarinen, private Finnish investment group Biothom and the Finnvera Venture Capital as a returning investor.
The return of the initial public offering on Wall Street has helped increase value in healthcare offerings five-fold, even though there were technically fewer deals during the second quarter, according to a PricewaterhouseCoopers report.
Three IPOs fetched nearly $600 million in health care during the three month period ended June 30, 2011, a 320 percent increase from the $142 million brought in on four initial public offerings during the same period last year.
Health care was one of the least active sectors for public offerings, coming in at seventh place on PwC’s rankings.
Mauna Kea Technologies is looking to raise up to $67 million through an initial public offering of 3.29 million shares on the NYSE Euronext stock exchange.
The offering will priced between 10.65 euros and 13 euros a share and is expected to close on July 4, according to Reuters news service .
Stem cell therapy company Aldagen is pulling back on its plans for an initial public offering.
The Durham, N.C.-based company revealed in a filing with the Securities & Exchange Commission that it is withdrawing its IPO plans due to market conditions.”
The company in 2009 filed a registration statement seeking to raise more than $80 million to take its compounds into mid-stage clinical trials.
It took a long time to get there, but BG Medicine Inc. (NSDQ:BGMD) ended its first week as a public company in Wall Street’s good graces.
The Waltham, Mass.-based diagnostics company saw share prices jump 5 percent during its first week of public trading, based on the Feb. 17 closing price of $8.39. Shares were up 1.5 percent through mid-day trading today, to $8.58, before retreating slightly.
All in all, it was a big week for the company — CEO Pieter Muntendam even got a chance to ring the NASDAQ exchange’s opening bell Feb. 16.
