Medtech trade group AdvaMed this week debuted a website that tracks law firm TV advertisements aimed at patients who have had certain medical devices implanted. The “Responsible Advertising for Patient Safety” site says that such ads mislead patients into legal action against the manufacturers of devices that are “non-faulty” and may jeopardize patient safety. Get the full […]
Conformis to sell $17.25M in shares to investor
Conformis (NSDQ:CFMS) announced today that it entered into a definitive agreement to sell approximately $17.25 million in shares and warrants. The agreement, made with an undisclosed “healthcare-focused” institutional investor, according to a news release, includes more than 8.5 million shares of Conformis’ common stock, accompanying warrants to purchase up to the same amount of shares and […]
Advisory panel to vote on FDA approval of Neovasc Reducer
Nine years after it won the CE Mark in Europe, the Neovasc (NSDQ:NVCN) Reducer device, designed to treat refractory angina, is close to an FDA decision on premarket approval. The agency’s Circulatory Systems Devices Panel is scheduled to discuss the Reducer at a virtual meeting set for Oct. 27, the FDA announced today. In a […]
Biorez raises $3.5M for its BioBrace tech
Tendon and ligament repair technology developer Biorez announced today that it raised $3.5 million in a seed financing round. New York Angels led the financing round, while Connecticut Innovations, Pritzker Vlock Family Office, Brainchild Holdings and The Vertical Group also participated, according to a news release. The New Haven, Conn.-based company develops the BioBrace implant, […]
ParaGen Technologies raises $4.1m
ParaGen Technologies filed an amendment to an SEC Form D last week confirming the sale of more than $4.1 million. Columbus, Ohio-based ParaGen is offering a total of $10 million in equity and options, warrants and/or other rights to purchase securities. Following its sale of $4.1 million, the company still has nearly 5.8 million remaining […]
Rosens Diversified is acquiring Collagen Solutions
Rosen’s Diversified today agreed to a deal to acquire the entire issued and to-be-issued ordinary share capital of Collagen Solutions (LON:COS). Rosen’s Diversified (RDI) is a Fairmont, Minn.-based food production, agrichemical and distribution company that is already Collagen Solutions’ largest shareholder, according to a news release. Collagen Solutions, which has a U.K. headquarters and operates out […]
Garwood Medical raises $4M in Series C round
Garwood Medical Devices announced today that it raised $4 million in a Series C financing round to support preclinical testing for BioPrax. Buffalo, N.Y.-based Garwood Medical develops the BioPrax device for minimally invasive procedures for eliminating biofilm infections on prosthetic joints during early intervention procedures. The device received FDA breakthrough device designation in October 2019. […]
Conformis reaches second milestone in Stryker deal
Conformis (NSDQ:CFMS) announced today that it completed the second of three milestones in its license and development agreement with Stryker (NYSE:SYK). Under the agreement, Conformis is set to receive an additional $3 million from Stryker after achieving the milestone as it develops patient-specific instrumentation (PSI) for use in connection with Stryker’s knee implant offerings. “We are pleased […]
Conformis dips on Q2 losses
Conformis (NSDQ:CFMS) shares dipped today on second-quarter results that highlighted losses influenced by the ongoing COVID-19 pandemic. The Billerica, Mass.-based joint replacement implant maker posted losses of -$2.1 million, or -3¢ per share, on sales of $19.5 million for the three months ended June 30, 2020, for a 68.4% bottom-line gain on a sales decline of […]
FDA clears LifeSpine anterior lumbar spacer system
Spinal disorder treatment developer Life Spine announced that it received FDA clearance for its Plateau-A Ti anterior lumbar spacer system. Huntley, Ill.-based Life Spine’s Plateau-A Ti system can be used for anterior fusion procedures, offering multiple footprint sizes in various heights to accommodate individual anatomies and pathologies, according to a news release. The system also […]
Stryker dips despite Street-beating Q2
Stryker (NYSE:SYK) shares dipped slightly today despite second-quarter results that came in ahead of the consensus forecast. The Kalamazoo, Mich.-based company posted losses of -$83 million, or -22¢ per share, on sales of $2.8 billion for the three months ended June 30, 2020, for a bottom-line slide from profits of $480 million last year into the […]
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