Avanos Medical (NYSE:AVNS) yesterday embarked on the third and final phase of the restructuring it began at the end of 2017 that’s expected to deliver annual savings of as much as $24 million. A year ago the Alpharetta, Ga.-based company, which spun out of Kimberly-Clark (NYSE:KMB) as Halyard Health in October 2014, rebranded as Avanos a […]
Ajax Health takes second fund to $100m
Ajax Health, the company formed in 2017 by a pair of private equity giants to manage their medical device investments, said yesterday that it added another $15 million to its second fund, taking the total to $100 million. In April the Menlo Park, Calif.-based VC shop said it raised $85 million in a round led […]
FDA: More data needed on paclitaxel devices
More data is needed on devices that elute the drug paclitaxel to determine if they pose a higher mortality risk than non-eluting devices in treating peripheral artery disease, the FDA said ahead of an advisory panel meeting today. A meta-analysis published in the Journal of the American Heart Assn. last December suggested that PAD patients treated with paclitaxel-coated balloons […]
Ginkgo puts $80 million into Synlogic
Ginkgo Bioworks put $80 million into Synlogic (NSDQ:SYBX) last week in a deal to use its cell programming technology to accelerate development of Synlogic’s synthetic biotic medicine program. Boston-based Gingko acquired some 6.3 million SYBX shares and warrants for another 2.5 million shares at $9 apiece; Synlogic then paid $30.0 million back to Gingko for five years worth […]
iCad closes $10m offering
iCad (NSDQ:ICAD) yesterday closed a stock offering, including an underwriters option, that grossed more than $10 million. The Nashua, N.H.-based cancer detection and radiation therapy devices maker floated nearly 1.9 million shares at $5.50 apiece, including the 245,500-share over-allotment, for gross proceeds of roughly $10.3 million. The net proceeds of $9.5 million are earmarked for working […]
Bain raises $900m for new life science fund
Bain Capital reportedly raised $900 million for its second life sciences fund and said it would pony up 20% of its own capital for the fund, aiming to back private companies on the cusp of going public and late-stage pharma concerns in need of commercial infrastructure. The fund plans to deploy investments of $20 million […]
Axonics wins FDA nod for MR-safe neurostim device in trial
Axonics Modulation Technologies (NSDQ:AXNX) said today that the FDA approved the use of full-body MRI for clinical trial participants implanted with the company’s sacral neuromodulation device. The Irvine, Calif.-based company submitted a supplement to the FDA regarding the use of full-body MRIs in its Artisan-SNM 129-patient pivotal trial. The FDA, which is evaluating Axonics’ device via […]
Merit puts $50m on the table for Brightwater
Merit Medical (NSDQ:MMSI) said this week that it plans to acquire Brightwater Medical in a deal valued at $50 million. Temecula, Calif.-based Brightwater Medical’s lead product, ConvertX, is a device designed to treat severe obstructions of the ureter. The company recently won FDA clearance for its ConvertX biliary stent system, according to Merit Medical. The deal […]
HeartFlow adds another $65m
HeartFlow added another $65 million to its coffers for the heart function analysis it developed. Redwood City, Calif.-based HeartFlow, which developed the FFRct fractional flow reserve analysis, said it hopes to raise another $35 million in the equity round. Nine unnamed investors participated, with the first sale occurring June 11,HeartFlow said in a regulatory filing. […]
Varian closes $283m Cancer Treatment Services buyout
Varian Medical (NYSE:VAR) said today that it closed the $283 million deal to acquire Cancer Treatment Services International and its network of oncology centers on the Indian subcontinent. When it announced the buyout last month, Varian said that it hoped to increase its expertise in cancer care center operations. The deal was financed via a credit facility […]
Soliton raises $9m in private placement
Soliton (NSDQ:SOLY) said today that it raised $9 million in a private placement for the acoustic tattoo removal aid it’s developing. Houston-based Soliton, which licenses its technology from the University of Texas, is develop a rapid acoustic pulse device that’s designed to make tattoo-removal lasers more effective. The device won 510(k) clearance from the FDA […]
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