Early stage medical device company Phraxis has raised approximately $5.6 million in a new round of equity and options financing, according to a recently posted SEC filing. Phraxis is developing a novel treatment for patients who need vascular access for hemodialysis, according to the company’s website. The St. Paul, Minn.-based company’s first product for commercialization […]
Business/Financial News
Wall Street Beat | Earnings Reports | Funding Roundup | Mergers & Acquisitions | Initial Public Offerings | Legal News
Semtech, Sonova ink hearing aid development deal
Sonova Holding AG (SIX:SOON) and semiconductor maker Semtech said today they jointly developed a new advanced radio system intended for use in Sonova’s hearing aids. The new technology, an ultra-small integrated circuit, will serve as the main component in a new generation of hearing aids and enable support for multiple radio protocols in the 2.4GHz band, […]
Appeals court declines full review of $254m Zimmer loss to Stryker
A federal appeals court declined a full review of its earlier decision to affirm a $248 million win for Stryker (NYSE:SYK) in its surgical tool patent case against Zimmer Biomet (NYSE:ZBH). The U.S. Court of Appeals for the Federal Circuit last December upheld treble damages in the case, based on a U.S. Supreme Court decision in […]
NE Ohio biomedical industry investments on the rise
Investment in the northeast Ohio biomedical sector totaled nearly $294 million in 2018 with 71 regional companies receiving funding, according to regional healthcare trade group BioEnterprise. Those figures make this region the third largest for total healthcare investment in the Midwest, following Minneapolis ($664 million) and Chicago ($551 million). These were among the findings of […]
Abiomed’s stake in Shockwave is worth at least $58m
The $10 million Abiomed (NSDQ:ABMD) put into Shockwave Medical (NSDQ:SWAV) has paid off so far no matter how you slice it. Shockwave raised nearly $97 million in an initial public offering earlier this month, inking a private-placement deal with Abiomed on the side for $10.0 million worth of SWAV shares at the $17-per-share IPO price. […]
Neovasc claims win in German TMVR patent case against Edwards unit CardiAQ Valve
Neovasc (NSDQ:NVCN) today claimed a win in its patent infringement war with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve Technologies, saying a German appeals court dismissed a case there. In June 2017 the District Court in Munich ruled that CardiAQ Valve contributed to the creation of Neovasc’s Tiara transcatheter mitral valve replacement, awarding”co-entitlement” rights to the patent in […]
Novo Nordisk seeks FDA nod for oral diabetes pill
Novo Nordisk (NYSE:NVO) said this week that it submitted applications to the FDA for its oral formulation of semaglutide, a once-daily glucagon-like peptide-1 receptor agonist therapy. The company is hoping its pill will be approved as an adjunct to diet and exercise to improve blood sugar control in adults with Type 2 diabetes. Novo Nordisk also […]
Establishment Labs shares up on mixed-bag Q4, FY2018 earnings
Shares in breast implant maker Establishment Labs rose in after-hours trading today after the company posted fourth quarter and full year 2018 earnings that beat sales expectations but missed loss-per-share consensus on Wall Street. The New York-based company posted losses of $10.5 million, or 52¢ per share, on sales of approximately $16.4 million for the three […]
Carbon debuts dental technology platform
3D printing company Carbon unveiled an integrated technology platform for the dental market this week at the International Dental Show in Cologne, Germany. The platform combines software, hardware and materials in an end-to-end solution designed to meet the needs of dental and orthodontic labs and enable them to scale quickly and economically, according to the Redwood […]
PolarityTE reveals SEC investigation
PolarityTE (NSDQ:PTE) this week revealed that it is the target of an SEC investigation into possible violations of federal securities laws. The Salt Lake City, Utah-based company said that it received a copy of a formal order of investigation from the SEC on March 4, exploring possible violations of fraud and price manipulations, according to an […]
OptiScan raises $20m for bedside glucose monitoring system
OptiScan Biomedical said today that it closed a $20 million Series E round to support the commercialization of its continuous monitoring system, the OptiScanner 5000, in the U.S. The company’s device is an automated bedside blood glucose monitor designed for use in the intensive care unit. The system can measure glucose values from a micro-sample of […]