Philips bids on ultrasound-guided gene therapy: Delivering DNA sequences to cells for gene therapy is already being investigated, with the current approaches relying on viruses and smart nanoparticles as vectors for gene transfer. But Philips and GlyGenix Therapeutics, out of Woodbridge, Conn., plan on taking another approach, hoping that the large molecules can be pushed to their destination using ultrasound. Specifically, the pre-clinical trials will study the technology, known as ultrasound-mediated plasmid DNA (pDNA) delivery, on Glycogen Storage Disease Type 1a (GSD-1a) that exhibits a defective G6Pase gene.
ConforMIS Inc. raised $50 million from a group of private and government investors.
The Burlington partial knee implant maker, which developed technology to manufacture surgical implants and instrument custom-made to patients’ physiology, said the Series D round came from private equity firms led by prior investor Aeris Capital and the sovereign funds of foreign governments including Singapore and Kuwait.
The Boston-based cardiac implant maker said sales for the three-month period ended June 30 will be about $3.2 million, not the $3.8 – $4.3 million it previously forecast for the quarter.
Full-year sales could reach $15 million, also less than the up to $18 million NMT had predicted.
CEO Frank Martin said the second-quarter shortfall was due to delays in the company’s plan to roll out new distribution channels in Europe and South America.
He had his say. Now Glenn Krevlin’s waiting for the company to be put in play.
That would be NMT Medical Inc., where Krevlin has been quietly building a significant stake. During the second quarter ended June 30, the managing partner of New York hedge fund Glenhill Capital Advisors spent about $885,000 to purchase 525,000 shares. He now owns almost 1.8 million shares, or nearly 14 percent of NMT, and is far and away the company’s largest individual shareholder.
Richard Davis added another duty at NMT Medical Inc. Wednesday, gaining a seat on the board of the Boston-based cardiac implant maker.
Davis, 51, was promoted to COO in February following the departure of former CEO John Ahern. Ahern’s replacement — initially on a temporary basis — was Frank Martin, 71, an NTM board member who in April signed on to permanently head the firm.
Voting at the Boston cardiac implant maker’s annual shareholders meeting, stockholders re-elected Francis Martin, Cheryl Clarkson, Daniel Hanley, James Mahoney Jr. and David West to the company’s board of directors and approved its stock incentive plan.
Three months after announcing that one of its longtime board members would be stepping into the top spot, officials at NMT Medical Inc. revealed the terms of Francis Martin’s deal.
The Boston-based cardiac implant maker will pay Martin an annual base salary of $260,000, with the possibility of a $25,000 cash bonus, full benefits and a $750 monthly car allowance.
He’ll also earn 60,000 shares of stock, vesting in equal monthly installments over the next two years, and the option to purchase an additional 120,000 shares in a “performance grant.” The purchase options have a set price of $4.50 – $9 per share.