Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
A 30-day “go-shop” period in St. Jude Medical’s pending, $3.4 billion acquisition of Thoratec lapsed without a 2nd suitor emerging, sending the companies’ stock prices down slightly.
The merger, medtech’s latest multi-billion union, calls for St. Jude to pay $63.50 in cash for each share of Pleasanton, Calif.-based Thoratec, funded using term loans and senior unsecured debt. Read more
Trivascular Technologies said it raised a $10 million funding round and launched a clinical study of endovascular aortic repair in women using its Ovation stent graft.
Santa Rosa, Calif.-based TriVascular said in a regulatory filing that it raised $10 million from 5 unnamed investors in a debt-and-warrants offering. The company, which won pre-market approval from the FDA this month for its Ovation iX device, raised $78 million in April 2014 with an initial public offering. Read more
Vital Therapies said that the Phase III clinical trial of its Elad cell-based therapy treatment for liver failure did not meet primary or secondary endpoints and the company is shutting down 2 other clinical studies of the device.
The randomized, controlled, 203-patient trial examined the efficacy of the cell-based therapy in treating subjects with alcohol-induced liver decomposition. Read more