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. Appeals court again upholds NuVasive in patent win over Medtronic
A federal appeals court today again upheld its decision to award a win to NuVasive Inc. in 1 of its long-running patent infringement battles with spine implant rival Medtronic.
The U.S. Supreme Court in January remanded the case back to the U.S. Court of Appeals for the Federal Circuit, after deciding last year that a defendant’s belief regarding patent validity is not a defense to an induced infringement claim. Read more
4. NeuroMetrix jumps on $21m round as Quell pain device hits 1k retail stores
NeuroMetrix shares jumped yesterday after the company announced a $21 million private placement and said its Quell pain relief device is on the shelves at 1,000 retail drug stores.
The private placement of 21,300 Series C shares at $1,000 apiece went to an institutional investor dedicated to backing healthcare companies, Waltham, Mass.-based NeuroMetrix said. The offering also included warrants for 11.8 million shares at a $1.69 exercise price, the company said. Read more
3. Mirabilis Medica raises $5.2m for uterine fibroid treating device
Uterine fibroid-treating device developer Mirabilis Medica raised $5.2 million in a new round of debt financing, according to an SEC filing posted today.
The company’s Mirabilis system is designed to use ultrasound to both provide imaging and ablation during procedures to remove uterine fibroids, the company said. Read more
2. Judge: Plaintiffs must prove cases in Zimmer NexGen knee MDL
Plaintiffs in the multi-district litigation over the NexGen knee implants made by Zimmer Biomet must prove their cases under a so-called “Lone Pine” order issued by the Illinois federal judge overseeing the MDL.
Named for a 1986 decision dismissing a mass toxic tort case against a New Jersey landfill, a Lone Pine order requires plaintiffs to show a link between their injuries and the product accused of causing it. Read more
1. Sensus Healthcare prices $11m IPO
Sensus Healthcare priced an $11 million initial public offering yesterday, saying it plans to float 2 million shares at $5.50 apiece starting today.
Boca Raton, Fla.-based Sensus said the offering, expected to close June 8, also includes a 300,000-unit over-allotment option for the IPO’s underwriters. Each share consists of a unit of stock and a 3-year warrant with an exercise price of $6.75. The offering units are slated to split by July 25, with the stock shares trading on the NASDAQ exchange under the “SRTS” symbol and the warrants under the “SRTSW” symbol. Read more
