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.
Get this in your inbox everyday by subscribing to our newsletters.
5. Endologix touts 30-day data from study of Ovation stent graft in women
Endologix touted 30-day data today from a trial evaluating its Ovation abdominal stent graft system in women.
The Lucy trial showed that at least 28% more women became eligible for minimally-invasive endovascular aneurysm repair when using the Ovation stent graft. The study is the 1st to assess endovascular aneurysm repair outcomes in women, according to Endologix. Read more
4. On-X Life Technologies shareholders sue CryoLife over $10m escrow account
The shareholders of On-X Life Technologies yesterday accused CryoLife Inc. of trying to hold on to a $10 million escrow account connected with their merger last year.
CryoLife paid $130 million for On-X in January 2016, including the escrow account, which was meant to cover “On-X’s indemnification obligations relating to its representations and warranties in the merger agreement,” according to a lawsuit filed in the Delaware Chancery Court by Fortis Advisors, the firm representing the On-X shareholders. Read more
3. Abbott whistleblower Colquitt loses appeal in off-label lawsuit
The whistleblower behind a decade-old lawsuit against Abbott lost his bid for a new trial after a federal appeals court this week denied his appeal.
Former Guidant sales rep Kevin Colquitt sued Abbott, Johnson & Johnson and Boston Scientific in 2006 for $219.4 million, claiming that they marketed the use of biliary stents to treat peripheral artery disease. (The magistrate overseeing the lawsuit, Judge Barbara Lynn of the U.S. District Court for Northern Texas, later let J&J and Boston Scientific off the hook.) Read more
2. Monteris Medical raises $27m Series C for NeuroBlate brain surgery device
Monteris Medical said yesterday that it raised a Series C round worth nearly $27 million it plans to use on R&D, clinical trials and expanding the commercial footprint of its NeuroBlate brain surgery device.
Versant Ventures and SightLine Partners led the round, joined by prior backers Birchview Capital and BDC Capital’s Healthcare Venture Fund, Monteris said. Read more
1. Ex-Medtronic CEO Hawkins backs CardioNXT in $2m round
A former CEO of Medtronic and a well-known medical device industry veteran got in on a $2.1 million funding round for CardioNXT, which is developing new tools to treat atrial fibrillation.
Ex-Medtronic chief William Hawkins III and Zyga CEO James Bullock led the round, joined by Piedmont Capital Partners and prior backer Solas BioVentures. Bullock led Atritech to a $100 million buyout by Boston Scientific and Endocardial Solutions, which St. Jude Medical paid $273 million for in 2005. Read more
