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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Shares in TearLab Corp. said last week that its board approved a 1-for-1 reverse split of its common stock. The company’s shares have fallen nearly 20% since the beginning of the month.
The San Diego, Calif.-based company’s move reduced the total number of authorized shares of its common stock from 95 million t0 9.5 million, according to regulatory filings. Read more
Motus GI said today that it closed a $30 million private placement which it plans to use in support of the commercial launch of its Pure-Vu colonoscopy system.
The lead investor in the placement was Perceptive Advisors, joined by Orchestra Medical Ventures, Ascent Biomedical Ventures, Jacobs Investment Company, GJG Life Sciences and Pura Vida Investments. Read more
Elixir Medical’s novolimus-eluting stent, DeSyne, outperformed Medtronic‘s zotarolimus-eluting stent, Endeavor, according to long-term data from Elixir’s Excella II trial.
The study enrolled 210 patients with 2 or more de novo lesions in 2 different epicardial vessels. Researchers randomly assigned patients in a 2:1 ratio to the novolimus-eluting stent or the zotarolimus-eluting stent. Read more
Boston Scientific got in on a $45 million private placement for Corindus Vascular Robotics and the CorPath GRX device it’s developing for cardiac and peripheral vascular procedures.
New investors BioStar Ventures, Consonance Capital and Hudson Executive Capital also participated, joining existing backers HealthCor Partners Management and Royal Philips. Read more
An executive with a New York metallurgy firm, Sanova LLC, pleaded guilty yesterday to bribing an engineering director at Stryker to win a multi-million dollar contract, according to federal prosecutors.
Eugene Ostrovsky, vice president and partner at Sanova, admitted that he paid the roughly $70,000 in bribes to Daniel Lawrynowicz in 2012 and 2013 to help Sanova land a contract with Stryker’s Howmedica division in New Jersey, according to the U.S. District Attorney for New Jersey’s office. Read more