Organogenesis said yesterday that it raised $30 million from existing investors to back its expansion plans. Canton, Mass.-based Organogenesis makes a line of regenerative medicine products designed to heal wounds. The company said it plans to use the proceeds to expand its sales force and commercial operations and to widen the reach of its PuraPly collagen […]
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Smith & Nephew shareholders shoot down $3m bonus for executives
Smith & Nephew (NYSE:SNN) shareholders yesterday shot down the company’s plan to award $3 million in bonuses to a group of 60 top executives. The British healthcare giant’s remuneration committee approved the £2.1 million bonus award based on the 80% absolute return the company posted over the past 3 years, which beat the FTSE 100 […]
CORRECTION: Direct Flow Medical adds board members
Correction, April 19, 2016: Due to a reporter’s error, this article originally stated that Direct Flow Medical raised a $31 million round, based on an amended regulatory filing. Direct Flow did not raise another $31 million; rather, a company spokesman said, the amended filing reflected the addition of new board members. We regret the error and […]
Forbion Capital Partners launches $208m life sciences fund
European venture capital shop Forbion Capital Partners said today that it raised a $208 million fund it plans to use for investments in medical device, drug and diagnostic companies. The €183 million fund’s limited partners included strategic investors Charles River Laboratories and Knight Therapeutics, plus the European Investment Fund, the Dutch Venture Initiative, Germany’s KfW development bank, other regional investment […]
Foundry spinout Fire1 raises $7.5m Series B
Stealthy Irish medical device startup Fire1 said today that its investors, including Medtronic (NYSE:MDT), put up another $7.5 million for its Series B round. Dublin-based Fire1, a spinout from medical device incubator The Foundry, also said it tapped former ResMed (NYSE:RMD) executive Conor Hanley to be its president & CEO and added another pair of senior […]
Stryker spree continues with SafeWire asset buy
Stryker (NYSE:SYK) continued its acquisition spree yesterday with the purchase of SafeWire’s spine device line for an undisclosed amount. SafeWire’s Y-Wire guidewire and Tiger Jamshidi needle family are slated to join Stryker Spine’s portfolio of minimally invasive devices, the Kalamazoo, Mich.-based company said. “We are excited to bring this important complementary technology into the Stryker family,” Stryker […]
CeQur looks to treble workforce in Massachusetts
CeQur is looking to treble the size of its workforce in Massachusetts with an expansion of the plant in Marlborough it plans to use to make the PaQ insulin device it hopes to launch this year. PaQ, a patch-like device, is designed to deliver both basal insulin and on-demand bolus insulin over 3 days. CeQur says it’s optimized the […]
St. Jude Medical’s Axium chronic pain device makes its U.S. debut
St. Jude Medical (NYSE:STJ) today announced the U.S. debut of its Axium neurostimulator system, after the device won FDA approval in February for treating chronic pain. The 1st patients were implanted in West Virginia and California with the Axium device, which uses dorsal root ganglion stimulation to treat moderate to severe chronic intractable pain of the lower limbs in adult patients […]
Dehaier gains on 2015 prelims
Share prices for China’s Dehaier Medical Systems (NSDQ:DHRM) jumped today after it released preliminary numbers for last year, despite massive losses incurred as it sheds unprofitable medical device businesses. Beijing-based Dehaier said in February that it plans to ditch the medtech units to focus on its wearable sleep respiratory business. Today the company reported preliminary losses of -$36 […]
AngioDynamics slips after hours on lowered guidance
Share prices slipped after hours yesterday after AngioDynamics (NSDQ:ANGO) lowered its outlook for the rest of fiscal 2016, despite a swing to profits on better-than-expected fiscal 3rd-quarter results. Latham, N.Y.-based AngioDynamics, which ousted former president & CEO Joe DeVivo earlier this week, posted profits of $630,000, or 2¢ per share, on sales growth of 0.9% to $87.4 million […]
Report: Baxter to shutter Colorado plant
Baxter (NYSE:BAX) is reportedly planning to shutter a plant in Englewood, Colo., over the next year. “Baxter has informed employees in its [Douglas County] … facility of the company’s plans to exit the facility over the next 12 months to enable effective deployment of the company’s product portfolio in order to best meet the needs of […]