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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The Feinstein Institute said this week it won a $1 million gift from the Knapp Family Foundation to launch a 4-year research program to explore bioelectronic medicine to treat diabetes.
With the grant, the institute will aim to develop an implantable device that will function as an electronic pancreas to regulate diabetes patients’ glucose metabolism without the use of insulin. Read more
Solera Health said it raised $18.3 million in a Series B round, with funds slated to support its existing network of products and market expansion.
Funding in the round was led by Adams Street Partners and joined by existing investors Blue Cross Blue Shield Venture Partners, Sandbox Industries and SJF Ventures. The Phoenix, Ariz-baed company said the round brings the total raised to date to $30.3 million. Read more
A group of UK hospitals are receiving $27.3 million to improve their cybersecurity in the wake of the WannaCry ransomware attack that occurred earlier this year and shut down a number of healthcare systems, according to a Guardian report.
UK Health Secretary Jeremy Hunt said the extra money was pledged to try and stop future malware and ransomware attacks from disrupting operations and appointments at medical centers, according to the report. Read more
Bigfoot Biomedical is a highly competitive player in medtech’s race to develop an artificial pancreas. The 50-person company has made rapid progress towards developing a smart, automated insulin delivery system since its beginnings in 2014. Just yesterday Bigfoot announced that it is partnering with Abbott, bringing together Abbott’s FreeStyle Libre glucose monitoring tech and Bigfoot’s insulin delivery platform. Medical Design & Outsourcing managing editor, Chris Newmarker, spoke with the company’s co-founder & CEO, Jeffrey Brewer, about its efforts to bring a secure, connected device to market. Read more
Entellus Medical said today that it closed its approximately $81 million acquisition of Spirox and its Latera absorbable nasal implant.
In the deal, Entellus paid $25 million in cash and issued approximately 3.4 million shares of Entellus common stock, which close at $16.51 the day before the deal was announced on July 7, putting the stock portion of the deal at approximately $56.1 million. Read more