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. Intarcia, Numab log milestones for autoimmune drug-device combo
Intarcia Therapeutics and pharmaceuticals maker Numab said today that they’ve logged several milestones in their joint project to develop a drug-device combination for treating inflammatory and autoimmune diseases.
Wädenswil, Switzerland-based Numab identified a pair of antibody-based compounds for the program, which aims to use the delivery and formulation technology developed by Cambridge, Mass.-based Intarcia. Read more
4. Clearside Biomedical floats $50m IPO
Clearside Biomedical raised $50 million with its initial public offering, floating 7.2 million shares at $7 apiece.
That’s below the range Clearside earlier set for the IPO, when it planned to put up 4.0 million shares at a range of $14 to $16, for a midpoint value of $60 million. Read more
3. Fujufilm, jilted in Toshiba Medical sale, still hot to trot the M&A trail
Fujifilm Holdings, which lost out in March to Canon in the race for Toshiba‘s medical device business, is still hot to trot on the mergers & acquisitions trail.
New COO Kenji Sukeno said the Japanese company is looking at pharmaceuticals and the regenerative medicine space. Read more
2. Report: Abbott audits Alere’s books ahead of $6B merger
Abbott reportedly triggered its right to audit Alere‘s books before consummating their $5.8 billion merger.
“Abbott is abiding by the terms of the contract with Alere and has exercised its contractual rights to audit Alere’s books and records,” spokeswoman Darcy Ross told Bloomberg. “To date, we have had a partial response from the company.” Read more
1. House panel look to ease FDA’s curbs on off-label marketing
A U.S. House of Representatives committee wants to amend the Food, Drug & Cosmetic act to ease the FDA’s ban on off-label marketing of medical devices and drugs.
The House Energy & Commerce panel last week proposed an amendment to the Food, Drug & Cosmetic Act to give companies more freedom in marketing their products outside of their labeling. Chairman Rep. Fred Upton (R-Mich.) and health subcommittee chairman Rep. Joseph Pitts (R-Pa.), in a letter to Health & Human Services secretary Sylvia Burwell, said the proscription of off-label communication makes it harder for physicians to stay abreast of best practices. Read more
