Intersect ENT hopes to raise $80 million in newly registered initial public offering | Medtech funding for the week of June 23, 2014

Intersect ENT registers $80M IPO for sinus implants

June 24, 2014 by Arezu Sarvestani

Drug-eluting devices maker Intersect ENT hopes to raise as much as $80 million in a newly registered initial public offering, according to SEC documents filed this week.

Intersect has yet to detail pricing or the number of shares it’ll offer, but said it hopes to use the funds to support clinical trials and additional research & development. The company may also look for some strategic acquisitions, but noted that there were no targets in its sights as of yet. Read more

Mitralign raises another $8M

June 20, 2014 by Brad Perriello

Mitralign added more than $8 million to its coffers in an equity funding round, after closing enrollment of a clinical trial for its namesake mitral valve repair device in April.

The Mitralign system is designed to deliver via catheter at least 1 pair of anchors that, when cinched together, help restore the heart’s mitral valve to its natural shape in patients with functional mitral regurgitation, according to a press release. Read more

Device makers tally $67M in Pentagon deals

June 23, 2014 by Arezu Sarvestani

The Defense Dept. handed out some $66.7 million in supply contracts to 5 medical device makers, covering Pap test kits, radiology and patient monitoring systems.

Welch Allyn won the largest pot, with a $43.7 million deal representing the 5th option of a 9-year contract for patient monitoring systems, accessories, parts and training. The company landed a similar contract last year. Read more

EndoShape raises $6.8M for vascular plugs and coils

June 20, 2014 by Arezu Sarvestani

EndoShape is in the process of raising $6.8 million in the latest reported funding round for the minimally invasive vessel occlusion devices maker.

The company has raised over $5.8 million so far from 17 unnamed investors, according to regulatory filings updated yesterday. EndoShape launched the equity funding round on June 10, 2014, adding to nearly $900,000 the company raised in January. Read more

EMBA Medical's still working on its $3M funding round

June 20, 2014 by Arezu Sarvestani

California-based EMBA Medical is still working on a $3 million equity funding round, according to recently updated SEC filings.

The company has been flying below the radar for months, with almost no online presence and very little known about its business, but trademark filings say that EMBA develops "medical devices, namely, devices for use in performing chemoembolization and radioembolization procedures." Read more