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.
Fractyl Labs said it enrolled the 1st patients in a trial of its Revita duodenal mucosal resurfacing system designed to treat the digestive causes of insulin resistance in patients with type 2 diabetes.
The Revita device is designed to ablate the duodenum (the first part of the intestine) in order to alter glucose metabolism. Fractyl calls its approach the “first procedural therapy to treat type 2 diabetes.” Read more
Alere announced 2 major transactions, selling its BBI diagnostics business and acquiring the assets of U.S. Diagnostics.
The company is selling its BBI business to U.K.-based Exponent Private Equity for approximately $164 million, including up to $47 million in contingent consideration, Alere said. The final price will be subject to a working capital adjustment, the company said. Read more
Venture capitalists put nearly $814 million into the medical device sector during the 2nd quarter, closing 75 deals for an average value of $10.8 million, according to the MoneyTree report.
The $813.7 million VCs dropped on medtech last quarter is 22.0% jump over Q2 2014, according to the report, which is compiled by PricewaterhouseCoopers and the National Venture Capital Assn., using data from Thomson Reuters. And its a 71.0% gain over the 1st quarter this year, when VCs put just $475.9 million into 72 deals. Read more