The Alfred E. Mann Foundation for Scientific Research (AMF) today announced the sale of intellectual property to Medtronic (NYSE:MDT). As part of the transaction of IP related to implanted infusion pumps, AMF will work with Medtronic to develop the technology into a next-generation implantable insulin pump for people living with hard-to-treat type 1 diabetes in Europe. Get […]
Business/Financial News
Prenetics is going public through a SPAC deal
Genomic and diagnostic testing company Prenetics announced that it will merge with Artisan Acquisition Corp. and go public. Artisan, a special purpose acquisition company (SPAC), will provide a business portfolio across retail, hospitality, healthcare, property and other strategic businesses for Prenetics to substantially expand its platform through the merger, according to a news release. The […]
Diabeloop joins corporate advisory partnership, seeks to develop business in U.S.
Diabeloop announced today that it set up a local and dedicated team to support its pursuit of entry into the U.S. market. Paris-based Diabeloop develops an automated insulin delivery (AID) system that deployed throughout Europe this past year, making it commercially available in Germany, the Netherlands, Italy, Spain and Switzerland, with more countries to come. The […]
Caresyntax brings Series C funding to $130M
Digital surgery platform developer Caresyntax announced today that it added a $30 million extension to its Series C funding round. Boston-based Caresyntax’s $30 million extension brings its total Series C funding to $130 million, adding to the first stage announced in April 2021, according to a news release. PFM Health Sciences led the extension, with […]
Theranos whistleblower testifies to blood analyzer inaccuracies in Elizabeth Holmes fraud trial
One of Theranos’ whistleblowers testified on the inaccuracies in the blood analyzers that Theranos had touted to investors on the third day of Elizabeth Holmes’ federal fraud trial. Erika Cheung, a former Theranos lab associate, testified yesterday that the machines the company was using to conduct patient blood tests had inaccuracies of quality control test […]
Philip Morris’ $1.2B offer for inhaled drug delivery tech developer becomes unconditional
Philip Morris (NYSE:PM) announced today that its offer to buy inhaled drug delivery technology developer Vectura has become unconditional. Having received valid acceptances for or acquired 74.77% of Vectura shares, in excess of the 50% required under the acceptance condition, along with confirming that all other conditions to the offer have been satisfied or waived, the deal […]
Zimmer Biomet spinoff to be called ZimVie
Zimmer Biomet (NYSE:ZBH) announced today that the planned spinoff of its spine and dental businesses will be called ZimVie. Spokesperson Laura Driscoll elaborated that “Zim” derives from Zimmer Biomet, the new company’s roots — and “Vie” is the French word for “life,” symbolizing the future. (Abbott used a similar construct with its AbbVie pharma spinoff.) ZimVie’s […]
Novo Nordisk Foundation, Harvard, MIT launch research center with focus on diabetes
The Novo Nordisk Foundation, the Broad Institute of MIT and Harvard have launched an initiative to gain insights into disease mechanisms. To accelerate efforts to mine genetic data for insights into mechanisms — and eventually rationally design treatments — the trio of entities launched the Novo Nordisk Foundation Center for Genomic Mechanisms of Disease based […]
Stryker launches new Citrelock tendon fixation device system
Stryker (NYSE:SYK) announced today that its trauma & extremities division launched its Citrelock tendon fixation device system. According to a news release, the Citrelock system offers surgeons a differentiated design through a tendon thread featuring a resorbable technology — Citregen — with unique chemical and mechanical properties for orthopedic surgical applications. Citrelock features a controlled […]
Augmedics appoints chief financial officer
Augmedics announced today that it appointed Raj Asarpota as its new EVP and CFO. Chicago-based Augmedics said in a news release that Asarpota, whose role becomes effective today, will lead the company’s global finance organization and be responsible for accounting, treasury, financial planning and analysis, tax and investor relations. The augmented reality-based imaging technology developer […]
First witnesses in Elizabeth Holmes federal fraud trial take the stand
Two of the prosecution’s witnesses took the stand yesterday on the second day of Elizabeth Holmes’ federal fraud trial. Theranos’ former financial controller San Ho Spivey, who is referred to as Danise Yam, took the stand and testified about the company’s financial condition during its heyday. Yam told Assistant U.S. Attorney Robert Leach that Theranos […]
