Sirtex Medical (ASX:SRX) said yesterday that Australia’s Federal Court dismissed a lawsuit filed by shareholders alleging it breached continuous disclosure obligations and engaged in misleading and deceptive conduct. The lawsuit alleges that the double-digit growth outlook for dose sales for its fiscal year 2017, which the company announced on Aug. 24 last year, “has no reasonable grounds.” Yesterday […]
Wall Street Beat
Revive Therapeutics, University of Wisconsin-Madison ink deal for cannabinoid drug delivery tech
Revive Therapeutics (OTC:RVVTF) said today that it inked a research agreement with the University of Wisconsin-Madison to develop a drug delivery technology for cannibinoids. The research program, led by Jess Reed, is slated to evaluate chitosan-tannin composite biomaterial as a delivery mechanism for cannabinoids. Therapeutic biomaterials made from a composite of chitosan and tannin include […]
Medtronic increases stake in Saluda Medical
Saluda Medical said it raised nearly $40 million (A$53 million) for the Evoke closed-loop neuromodulation device it’s developing to treat axial back pain. The round was led by a new investor, GlaxoSmithKline‘s (NYSE:GSK) Action Potential Venture Capital, joined by existing backer Medtronic (NYSE:MDT), Artarmon, Australia- and Bloomington, Minn.-based Saluda said. The Evoke spinal cord stimulator is […]
UPDATE: Potential Alcon sale worries Novartis investors
Updated to include new details of Novartis’ M&A strategy. Novartis (NYSE:NVS) CEO Joe Jimenez’s consideration of the sale of the Alcon subsidiary has investors worried that the influx of cash – Alcon’s surgical devices and contact lens business could fetch as much as $35 billion – will result in another misguided acquisition. The Swiss drugmaker […]
MRI Interventions raises $13.3m in private placement
MRI Interventions (OTC:MRIC) inked a definitive securities purchase agreement today with a group of investors that is slated to bring the company $13.3 million in gross proceeds. The agreement includes 6.6 million aggregate units of common stock and warrants. For each unit purchased, investors will get 1 share of common stock and a warrant to purchase […]
Anika launches late-stage supplemental Cingal study
Anika Therapeutics (NSDQ:ANIK) said yesterday that it enrolled the 1st patient in a supplemental Phase III efficacy and safety trial of its Cingal hyaluronic acid-corticosteroid combination viscosupplement. The Bedford, Mass.-bsaed company is evaluating Cingal as a treatment for osteoarthritis-related knee pain. Get the full story at our sister site, Drug Delivery Business News.
Sectra goes direct in Canada
Sectra (STO:SECTB) said today that it’s establishing a direct sales force in Canada for its medical imaging and cybersecurity offerings. The Swedish company said the move will allow it to focus on the specific needs of the market north of the border, from a base in Toronto that’s expected to go live before September. “To expand in […]
SteadyMed raises another $5m from key shareholder
SteadyMed (NSDQ:STDY) said today that 1 of its largest institutional shareholders exercised warrants to purchase additional shares of the company that the investor got in conjunction with the 1st tranche of a previous private placement. Thanks to the exercise, San Ramon, Calif.-based SteadyMed received an additional $5 million in proceeds. Get the full story at our […]
Senseonics prices $41m underwritten offering for Eversense CGM
Senseonics (NYSE:SENS) said today that it priced an underwritten offering of 29 million shares of common stock at $1.41 apiece to a group of institutional investors. Roche Finance agreed to purchase 21 million shares and New Enterprise Associates agreed to purchase 7 million shares in the offering, according to the Germantown, Md.-based company. Senseonics said […]
NovaBone launches bioactive bone graft substitutes
NovaBone Products added NovaBone IRM and IRM MacroPOR to its portfolio of biologically active bone graft substitutes today. The Jacksonville, Fla.-based company touted its devices as the industry’s most advanced bioactive synthetic bone graft substitutes available for orthopedic applications. The 2 new formulations are highly irrigation resistant and promote osteogenesis and osteoblastic activity, according to […]
Colorectal cancer patients treated with SIR-spheres more likely to be candidates for resection
Treatment with Sirtex Medical‘s (ASX:SRX) Y-90 resin microspheres and chemotherapy was associated with a statistically significant gain in potentially curative liver resectability, according to data published earlier this week. The results come 1 week after the Australian company reported that its radioactive microspheres had no effect in improving survival in patients with colorectal cancer in its […]