Cytori Therapeutics (NSDQ:CYTX) said this week that it bought San Antonio-based Azaya Therapeutics and its nanoparticle cancer drugs in a stock deal. Azaya shareholders will receive $2 million in CTYX stock. San Diego-based Cytori will also pay $2 million upfront for costs associated with Azaya’s new manufacturing facility in San Antonio. Cytori will acquire a […]
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Patent board invalidates RainDance patent for obviousness
The Patent Trial and Appeal Board invalidated a RainDance Technologies patent earlier this week for obviousness. The patent, which covers a method for manipulating the size of liquid droplets used in microfluidic diagnostic tests, was challenged by manufacturer 10X Genomics Inc. The panel, after conducting an inter partes review, found that the technique’s characteristics, which […]
GE shares slide on sales miss, despite healthcare contributions
Shares in General Electric (NYSE:GE) slid today before the market opened before sliding a further -2% after the industrial conglomerate missed top-line expectations for the 4th quarter and full year, despite solid contributions from its GE Healthcare subsidiary. GE Healthcare put up profits of $1.03 billion, up 9.8%, on sales growth of 2.6% to $5.10 billion […]
Advanced Cooling Therapy wins CE Mark for esophageal cooling device
Advanced Cooling Therapy said today that it won CE Mark approval in the European Union for use of its esophageal cooling device with Stryker‘s (NYSE:SYK) Altrix Precision Temperature Management System. The Chicago-based company’s ECD is designed to modulate and control patient temperature using a single-use triple lumen system that is inserted into the patient’s esophagus. […]
Study finds financial ties between researchers, industry associated with positive trial results
A study conducted by a team of U.S. researchers found that financial ties between researchers and the companies that make the drugs they are studying are independently associated with positive trial results. The team’s work was published in The BMJ this week. The study was observational, so the results can’t be used to draw concrete conclusions. But the […]
Judge dings Neovasc for another $21m in spat with Edwards Lifesciences unit CardiAQ Valve
A federal judge in Boston yesterday added another $21 million to the judgment against Neovasc (NSDQ:NVCN) in a trade secret spat with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve that’s already cost Neovasc some $91 million. A jury in May awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets in developing its Tiara transcatheter mitral valve replacement […]
Coorstek claims win in ceramic hip dispute
A federal judge in Colorado ruled earlier this month that Ceramtec cannot trademark its ceramic hip implants’ pink color, after the company wrote a cease and desist letter to Coorstek Medical in 2014 over its competing CeraSurf device. Forth Worth, Texas-based Coorstek’s CeraSurf device is made with ceramic material that uses chromium oxide, which provides hardness […]
EnteroMedics prices $17m offering
EnteroMedics (NSDQ:ETRM) priced today its underwritten public offering at $16.5 million, offering class A units priced at $5.31 apiece and class B units at $1,000 apiece. Each class A unit consists of 1 share of common stock and a 5-year warrant to purchase 1 share of common stock with an exercise price of $5.84 per […]
Corindus jumps on raised outlook
Shares in Corindus Vascular Robotics (OTC:CVRS) jumped nearly 11% in morning trading today after the company raised its outlook for full-year revenue in 2017 to between $13 million – $15 million. Analysts have pegged the robotic-assisted systems maker’s full-year revenue for 2017 at $12 million. Corindus said in a report yesterday that it anticipates implementation of at least […]
Sanofi’s Suliqua combination therapy approved in European Union
Sanofi (NYSE:SNY) said today that the European Commission granted marketing authorization in Europe for its Suliqua combination product for adults with type II diabetes. The therapy is a fixed-ratio combination of basal insulin glargine and lixisenatide, intended to be used with metformin to improve patients’ glycemic control. Suliqua will be available in 2 pre-filled SoloSTAR pens at […]
Orthofix to pay $14m to settle foreign bribery beef with SEC
The SEC said today that Orthofix (NSDQ:OFIX) has agreed to cough up more than $14 million to settle federal charges that it improperly booked revenue and made improper payments to doctors at government-owned hospitals in Brazil to increase sales. According to the SEC, the Texas-based medical device company improperly recorded some revenue as soon as a […]