Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 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.
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Stimwave Technologies said late last week it won approval from the Australian Therapeutic Goods Administration for its Freedom spinal cord stimulation system, and launched the device in the country.
The Ft. Lauderdale-based company touts the Freedom SCS as the world’s 1st wireless, fully programmable neuromodulation device intended for treating chronic, intractable pain of the back or legs. Read more
Adgero Biopharmaceuticals touted positive clinical data from studies of its late-stage photodynamic therapy platform for the treatment of cutaneous oncology indications, including unresectable metastatic breast cancer.
The Princeton, N.J.-based company’s REM-001 therapy consists of a laser light source, a light delivery device and a photosensitizer drug. Read more
Organogenesis said that it entered into a revolving line of credit agreement with Silicon Valley Bank to provide $25 million in new capital to the regenerative medicine company.
“The people of Silicon Valley Bank are not only excellent bankers, but what sets them apart is they also understand business,” Organogenesis chief financial officer Tim Cunningham said in prepared remarks. “We at Organogenesis are looking forward to building a strong, long-term relationship.” Read more
Johnson & Johnson business unit Codman Neuro said it acquired Neuravi and its portfolio of neurovascular therapy technology for an undisclosed amount.
Neuravi produces the EmboTrap and EmboTrap II revascularization platforms designed capture clots and allow blood flow to resume immediately after the clot has been secured in patients who have experienced a stroke. Read more
Avinger said yesterday that it plans to lay off a third of its workforce and examine its “strategic alternatives” as it focuses on its Pantheris peripheral artery device.
The layoffs, affecting 131 workers, are slated to be complete this week, the Redwood City, Calif.-based company said, including cutting its field sales force by nearly half, from 60 to 32. Read more