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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5. This tissue paper is made from actual organ tissues
Northwestern University researchers have created biomaterials made from animal organs and tissues that could potentially support natural hormone production in young cancer patients and aid wound healing.
The materials, aptly named tissue papers, are made from structural proteins that are excreted by cells and give organs their forms and structures. The tissue papers are thin and flexible enough that they can be formed into origami birds. Read more
4. Wearable sensor developer MC10 raises $9.2m
MC10, a Lexington, Mass.-based wearable sensor developer, raised $9.2 million in an offering of promissory notes and warrants convertible into preferred stock to 18 investors, according to regulatory filing.
The company still needs to raise $767,038 to reach the offering’s $10 million total. Read more
3. Titan Medical closes $2m deal with Chinese investor
Titan Medical said today that it closed a deal with Longtai Medical to convert a $2.0 million distributorship deposit to equity. The move makes Longtai the robotic surgical company’s largest shareholder.
In May of 2015, Titan Medical and Longtai, a subsidiary of Chinese medical device distributor Ningbo Long Hengtai International Trade Co., inked a deal to make Longtai the company’s exclusive distributor of its Sport robotic surgical platform in China. Read more
2. Abbott’s St. Jude Medical can’t escape Riata lead lawsuit
Abbott subsidiary St. Jude Medical can’t escape a product liability lawsuit brought over its recalled Riata defibrillator leads, a federal judge in California ruled this week.
St. Jude pulled the silicone-coated Riata and Riata ST leads in 2010 after finding that some of the internal conductors had worn through their insulation, a failure that could result in patients receiving unwanted shocks. In November 2011 the company warned that the Riata leads appeared to fail more frequently than previously reported, leading to a Class I recall from the FDA. The company settled a raft of Riata product liability lawsuits in February 2015, ahead of its $25 billion acquisition early this year by Abbott. Read more
1. Ra Medical CEO Irwin aims for Feb 2018 IPO
In May, Ra Medical received a nod from the FDA for its Dabra arteriosclerosis laser, clearing it for use in the US.
It was a decision the company had been waiting on for approximately 3 years, CEO Dean Irwin told MassDevice.com in an interview, and signaled a significant shift forward. Read more