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. FDA approves Insightec’s Exablate Neuro focused ultrasound device
The FDA said today that it approved the Exablate Neuro device made by Insightec for treating essential tremor in patients who don’t respond to drug therapy.
The Exablate Neuro device uses high-intensity, focused ultrasound to thermally ablate targeted tissue, guided by continuous magnetic resonance imaging; the procedure can be performed non-invasively through an intact skull. Read more
4. AcuFocus raises $2m in new debt round
AcuFocus, which makes the Kamra eye inlay for treating nearsightedness, said it raised nearly $1.9 million in a round of debt funding.
Irvine, Calif.-based AcuFocus said in a regulatory filing that the round included 14 unnamed investors. The company hopes to raise a total of $2.5 million, according to the filing. The company pulled in nearly $4.1 million an another debt round in March. Read more
3. Avita Medical pulls down $9m
Avita Medical said yesterday that it raised $9 million in a partially underwritten rights issue for its ReCell device, which is designed to use a patient’s own skin cells to treat burns, chronic wounds and skin defects.
Avita, which has offices in Northridge, Calif., Cambridge, U.K. and Perth, Australia, said it issued nearly 100.2 million new shares in the offering, which closed July 4. Read more
2. Plaintiffs lawyers bow out of Zimmer Biomet’s NexGen Flex knee MDL
Some 129 plaintiffs in the multi-district litigation brought over the NexGen Flex knee implants made by Zimmer Biomet need to find new lawyers after their attorneys bowed out of their cases.
Judge Rebecca Pallmeyer of the U.S. District Court for Northern Illinois, who is overseeing the MDL, gave plaintiffs until July 15 to ask for a review of their cases by volunteer lawyers. Read more
1. Wright Medical deals large joint biz to Corin Orthopaedics for $33m
Wright Medical said today that it agreed to deal its large joints business to Corin Orthopaedics Holdings for about $33 million in cash.
The €29.7 million transaction, which is expected to close by the end of the 3rd quarter or early in the 4th quarter, involves legacy hip and knee implants from Tornier; Wright and Tornier merged in a $3.3 billion deal in October 2015. Read more
