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. Endonovo Therapeutics raises $10 million
Endonovo Therapeutics said today that it landed a $10 million funding agreement with an institutional investor.
The funding consists of $1 million in convertible notes, with $600,000 already received and $400,000 to be received upon SEC registration approval, and up to $9 million through a securities purchase agreement after 30 days from its SEC registration date. The company said it hopes to uplist to a national stock exchange during the 1st half of 2017. Read more
4. Consort Medical inks Syrina auto-injector development agreement
Consort Medical subsidiary Bespak said today that it inked a development agreement with an undisclosed biopharmaceutical company for its Syrina auto-injector tech.
The agreement says Bespak is responsible for early stage development of the auto-injector. If the undisclosed partner agrees to commercialize the developed product, both parties will enter into a full commercial supply agreement, according to Bespak. Read more
3. CERN researcher’s fertility app is as good as oral contraceptives, condoms
Natural Cycles, the fertility app developed by former CERN particle physicist Elina Berglund, is reportedly as effective at preventing pregnancy as oral contraceptives or condoms, boasting a 99.5% efficacy rate.
Berglund began working on the app while she was still at the particle physics laboratory in Geneva, she told Wired. Read more
2. CDC warns on 3T heater-cooler from LivaNova’s Sorin
The U.S. Centers for Disease Control & Prevention yesterday warned of the risk of serious bacterial infection in open heart surgery patients patients from a device made by Sorin, which merged last year with Cyberonics to form LivaNova.
The 3T heater-cooler device is used to maintain patients’ blood and organs at a specific temperature. The CDC said the devices may have been contaminated with Mycobacterium chimaera during their manufacture in Germany. About 150,000 U.S. heart bypass procedures, or roughly 60%, use the LivaNova 3T device annually, according to the CDC. That makes a recall unlikely given the sheer number of devices in use across the country, a CDC spokeswoman told Reuters. Read more
1. Medtronic, LivaNova get in on $12m round for European medtech incubator MD Start
A European medical device incubator said yesterday that it raised nearly $12 million from backers including Medtronic and LivaNova.
Paris-based MD Start invested in 3 companies using its 1st fund and has already invested in a 4th from the just-announced $11.5 million fund, which was led by French public investment bank Bpifrance and included Sofinnova Partners. Read more
