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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A California federal judge last week approved a $12.3 million deal to settle a number of insurance claims over injuries allegedly caused by Caldera Medical’s transvaginal mesh.
Caldera’s insurer, Federal Insurance Co., will distribute $10.6 million to over 2,700 class members, as well as a $670,020 payment for attorney’s fees and costs in the case. Read more
VertiFlex said today it closed a $40 million round of financing to support its Superion indirect decompression system designed to treat moderate lumbar spinal stenosis.
The round was led by newly invested Endeavour Vision and H.I.G. BioHealth Partners, and was joined by existing investors New Enterprise Associates, Thomas, McNerney & Parnters and Alta Partners. Read more
Virta Health, founded by physicians and scientists from Stanford, MIT and Harvard, launched today with the goal to reverse Type II diabetes using its technology platform to enable personalized remote care. The company provides physician supervision, health coaches, an app and biomarker tracking tools, as well as a personalized nutrition plan for its patients in the hopes of reversing Type II diabetes.
The company’s launch comes after a peer-reviewed study showed that Virta successfully reversed Type II diabetes in half of its clinical trial patients. The company was also able to eliminate or reduce insulin use in 87% of patients in 10 weeks, according to Virta. Read more
Intersect ENT said today that it submitted a New Drug Application to the FDA for its Resolve steroid-releasing implant to treat chronic sinusitis patients with recurrent sinus obstruction.
The Menlo Park, Calif.-based company’s implant can be placed during a routine physician office visit and is designed to be a less invasive treatment option for recurrent ethmoid sinus obstructions, including polyps. Read more
Stryker said today that it’s putting an early stop to enrollment in a clinical trial of its Trevo anti-stroke device after a review board decided there’s a high probability of success for the study.
Kalamazoo, Mich.-based Stryker paid $135 million for Concentric Medical and its Trevo clot retriever back in 2011. The device is designed to remove the blood clots that cause ischemic stroke. Stryker said it’s halting enrollment in the 500-patient Dawn trial after signing on just 200 patients after a scheduled review by the study’s independent Data Safety Monitoring Board. Read more