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. Newly developed exoskeleton mimics human knee
Mechanical engineers from ETH Zurich have developed a prototype exoskeleton, the VariLeg, which they say more accurately mimics natural knee gait to give it an advantage on uneven terrain.
The newly developed prosthetic is designed to continuously change knee stiffness so it can adapt to irregular surfaces or obstacles, according to a Reuters report. Read more
4. Stryker takes its time with Mako’s Triathlon total knee
Stryker is taking its time getting the Mako robot-assisted Triathlon total knee device on the market, despite having won FDA approval last August.
Admitting that the integration of Mako after the $1.7 billion acquisition in December 2013 was “messy,” CEO Kevin Lobo said Stryker isn’t planning to launch the total knee offering until 2017. Read more
3. AcuFocus raises $4m debt round
AcuFocus, which makes the Kamra eye inlay for treating nearsightedness, said it raised nearly $4.1 million in a round of debt funding.
Irvine, Calif.-based AcuFocus said in a regulatory filing that the round included 16 unnamed investors. The company hopes to raise a total of $5 million, according to the filing. Read more
2. Medtronic wins expanded indication for Pillcam Colon 2
Medtronic said today that the FDA granted an expanded indication for the Pillcam Colon 2 device it acquired along with Covidien last year.
The new indication covers the detection of colon polyps in patients with bleeding in the lower gastrointestinal tract who’s health is at risk from colonoscopy or mild sedation, but could tolerate them if the Pillcam device detects an abnormality. Read more
1. Biotech investor Steve Burrill to pay $6m, banned from trading
Once-prominent biotech investor Stephen Burrill is barred from the securities industry and will pay nearly $6 million to settle SEC charges that he looted investment funds to cover losses in other businesses and pay for his lavish lifestyle.
Burrill and his firm Burrill Capital Management agreed to disgorge the $4.785 million prosecutors said Burrill siphoned off for personal use, plus a $1 million fine. The firm’s former chief legal officer, Victor Hebert, and former controller Helena Sen agreed to pay $185,000 and $90,000 civil fines, respectively. They are also barred from the securities industry, the SEC said. Read more
