Wound care company Nuo Therapeutics (OTC:NUOT) said yesterday that a federal court in Delaware approved a bankruptcy plan that would either see it continue as an independent company or become 95% owned by lender Deerfield Management. Gaithersburg, Md.-based Nuo filed for Chapter 11 bankruptcy protection in January, 2 years after raising $35 million from Deerfield. Formerly known as Cytomedix, […]
Wound Care
Former Advanced BioHealing exec Clawson pleads guilty in VA fraud case
Former Advanced BioHealing executive Todd Clawson last week pleaded guilty to federal charges that he bribed U.S. Veterans Affairs Dept. doctors to use the company’s DermaGraft biologic wound dressing. Federal prosecutors accused Clawson, who left the company in 2012, of participating in a scheme to bribe VA physicians to use the DermaGraft diabetic foot ulcer treatment with a […]
CollPlant jumps on CE Mark win for wound filler
CollPlant said today it won CE Mark approval in the European Union for its Vergenix FG flowable gel intended to treat chronic and acute wounds. In response to the news, the company’s share price was up 4.62% on the Tel Aviv Stock Exchange at midday. The wound-filling gel utilizes Israel-based CollPlant’s proprietary tobacco plant-based technology […]
FDA clears Chemence’s Exofin tissue adhesive
Chemence Medical said yesterday it won FDA 510(k) for its Exofin topical skin adhesive designed for wound closure. The Alpharetta, Ga.-based company said it will offer the Exofin sealant in 2 sizes, and claimed the product is the “fastest polymerizing 2-octyl cyanoacrylate topical adhesive” available, with the highest viscosity formulation. “After spending more than 2 years […]
Avita Medical closes $2.6m respiratory biz sale
Avita Medical (ASX:AVH) said today that it closed the $2.64 million deal for its respiratory business with Medical Developments International. The division includes Avita’s Breath-A-Tech and Funhaler asthma spacers designed to optimize the use of medicinal puffers, marketed in Australian pharmacies. The buyout was announced in December 2015. “With the sale of the respiratory business, we […]
Nuo Therapeutics files for bankruptcy
Wound care company Nuo Therapeutics (OTC:NUOT) said yesterday that it’s declaring Chapter 11 bankruptcy a little more than 2 years after raising $35 million. Formerly known as Cytomedix, Nuo Therapeutics makes the Aurix hematogel, which is designed to stimulate the body’s native mechanisms to heal wounds. In April 2014, the company landed a $35 million investment from Deerfield […]
MiMedx revives Organogenesis beef
MiMedx (NSDQ:MDXG) CEO Pete Petit last week renewed a beef with regenerative medicine rival Organogenesis, accusing that company of being behind a short-seller’s letter advising investors to bet against MiMedx. Early this year, Marietta, Ga.-based MiMedx bailed out of a lawsuit against Canton, Mass.-based Organogenesis alleging “malicious actions” and interference from Organogenesis in the U.S. Veterans Affairs Dept. decision to stop using its […]
Arsenal Medical wins $14m DoD contract
Arsenal Medical said today it won a contract from the U.S. Army Medical Research & Materiel Command worth more than $14 million to complete clinical and manufacturing development and regulatory submission for its ResQFoam. Arsenal’s ResQFoam is a self-expanding biomaterial designed to be administered at the point of injury to stop blood loss in patients […]
Spiracur to pay $3m to settle VA kickbacks case
Federal prosecutors said last week that Spiracur agreed to pay $3 million to settle charges that it paid kickbacks to U.S. Veterans Affairs Dept. physicians in return for using the Snap negative pressure wound therapy it just sold to Acelity. Sunnyvale, Calif.-based Spiracur admitted no wrongdoing in the settlement, but agreed to cooperate with the […]
FDA clears RevMedX wound dressing for civilian use
The FDA said today granted RevMedX’s XStat 30 wound dressing expanded 510(k) clearance to include adults and adolescents in the general population from an indiction of military use only. The XStat 30 wound dressing is an expandable, multi-sponge dressing used to control severe, life-threatening bleeding from wounds in areas that a tourniquet cannot be placed, the […]
Acelity acquires Snap wound treatment from Spiracur
Acelity, looking to accelerate its plans for a disposable negative-pressure wound therapy, said today that it acquired the Snap portable NPWT device from Spiracur for an undisclosed amount. San Antonio, Texas-based Acelity, which is preparing for an initial public offering that could fetch up to $1 billion, said the Snap system is designed to treat hard-to-heal wounds […]