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.
Vital Therapies said it plans to lay of 32 employees, or about 30% of its workforce, and slash expenses as it looks to reboot its clinical program after the failure its Elad device in a trial last month.
San Diego-based Vital Therapies halted a Phase III clinical trial of the Elad cell-based treatment for liver failure after it failed to meet its primary and secondary endpoints and shut down 2 other studies. Vital Therapies said it’s still looking at the data from the halted trial and is working on the design for a new Phase III trial. Read more
Stryker is reportedly planning to close a plant in Charleston, S.C., that it acquired when it bought Berchtold Holding last year.
Kalamazoo, Mich.-based Stryker plans to shutter the plant by the end of the year, according to the Charleston Post and Courier. Stryker paid $172 million in April 2014 for Berchtold, which makes surgical tables, lighting systems and other operating room and ICU equipment. Read more
Medtronic chairman & CEO Omar Ishrak said that the company’s recent $1 billion M&A binge means that corresponding internal programs could get the axe.
Asked during a conference call with analyts about the cumulative dilution from a string of smaller acquisitions, Ishrak said the 1st line of defense comes from cutting R&D. Read more