The Federal Trade Commission announced that it is refunding NeuroMetrix (NSDQ:NURO) consumers nearly $3.9 million after false advertising. NeuroMetrix marketed its Quell transcutaneous electrical nerve stimulation device as a clinically proven and FDA-cleared treatment for widespread chronic pain relief when placed below the knee, according to the FTC, which said that the company lacks scientific evidence […]
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Minnetronix Medical wins FDA clearance for neurosurgical access port
The FDA has cleared Minnetronix Medical‘s MindsEye neurosurgical access port for deep brain surgeries, the company announced today. The clearance represents an expansion beyond the St. Paul, Minn.–based contract manufacturer’s traditional offerings. “This extension of our business represents an additional way to partner with customers. We have the opportunity to offer them products they can […]
Pfizer touts animal trial results for COVID-19 vaccine candidate
Pfizer (NYSE:PFE) announced today that its COVID-19 vaccine candidate protected against infection in preliminary non-human trials. The vaccine, being developed in collaboration with BioNTech (NSDQ:BNTX), was tested in mouse and non-human primate models. In the non-human primate study, the BNT162b2 mRNA-based vaccine candidate protected rhesus macaques against SARS-CoV-2 infection, according to a news release. Get the full story […]
AstraZeneca puts COVID-19 vaccine trial on hold
AstraZeneca (NYSE:AZN) announced today that it voluntarily paused the trials for its COVID-19 vaccine candidate after an unexplained illness. The company said in a news release that a standard review process was triggered so an independent committee could review safety data surrounding a single event of an unexplained illness that occurred in the UK Phase III […]
How the presidential election could affect medtech
No matter who ends up in the White House, there will need to be a reckoning over how the government’s relationship with medtech has changed, according to industry insiders. It’s been a tumultuous few years for the medical device industry, with highs and lows that no one could have foreseen. President Donald Trump’s administration streamlined […]
DTW Podcast: KCK’s Long says deals getting done during COVID era
In this week’s DeviceTalks Weekly Podcast, Karen Long, managing director at KCK Group, says startups looking for funding have an opportunity to catch the eye and ear of investors. KCK, an active medtech investor, has been involved in two sizable investments this summer including Aerin Medical and NeuroPace. Both were portfolio companies, but Long says […]
Drug companies agree not to release COVID-19 vaccine until it’s ready
Executives from nine different drug companies today announced a pledge to ensure safety with a potential COVID-19 vaccine. The CEOs of AstraZeneca (NYSE:AZN), BioNTech (NSDQ:BNTX), GlaxoSmithKline (NYSE:GSK), Johnson & Johnson (NYSE:JNJ), Merck (NYSE:MRK), Moderna (NSDQ:MRNA), Novavax (NSDQ:NVAX), Pfizer (NYSE:PFE) and Sanofi (NYSE:SNY), all of whom are developing vaccine candidates, all signed the pledge, which vows to “uphold the integrity of the scientific process” […]
MedTech 100 roundup: Stocks top pre-pandemic high
After weeks of flirting with the heights hit before COVID-19 ravaged the markets, medtech stocks finally topped the pre-pandemic high last week. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — spiked up to 93.11 points on Sep. 2, nearly a full point ahead of the pre-pandemic high of […]
How decontamination could solve the COVID-19 mask shortage problem
With cold and flu season rapidly approaching, public health officials worry about a resurgence of COVID-19 and personal protective equipment shortages. Protecting frontline workers will likely include decontaminating face masks. A spike in COVID-19 cases this fall and winter could leave healthcare facilities with renewed shortages of personal protective equipment — particularly masks. Hundreds of […]
Biden is getting the most money from medtech employees
Medtech company employees and their families have donated $289,533 to former Vice President Joe Biden, versus $190,570 for President Donald Trump, according to OpenSecrets.org. Check out our breakdown covering 25 of the largest companies. Medical device company employees’ preference in the U.S. presidential election appears to be clear: They’re providing more money to the Democratic […]
The top 5 MassDevice stories of the week — September 4, 2020
Medtronic (NYSE:MDT) and a major development involving medtech reimbursement dominated medical device industry news over the past week. As the week closes out, there’s also a trending story on MassDevice that includes good news: Abbott (NYSE:ABT) is reportedly hiring 2,000 new employees in Illinois to increase manufacturing for its rapid COVID-19 test. Want to hear more about […]