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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Neurostim developer Bluewind Medical said today it won CE Mark approval in the European Union for its Vivendi neurostimulation device designed to treat peripheral neuropathic pain.
The newly cleared neurostim device is 90% smaller than ‘typical’ neurostimulators on the market, the Israeli company said, and is designed to be implanted in close proximity to the Tibial nerve so it can apply electrical stimulation to the nerve to ease or mask pain. Read more
Cogentix Medical said today it inked a $25 million securities purchase agreement with Accelmed Growth Partners.
Through the deal, Accelmed will buy $25 million in Cogentix Medical common stock at $1.55 per share. Funds are slated to support working capital and to implement a business development strategy to acquire growth tech which addresses the urology market. Read more
A parent in Ohio reportedly leveled a class-action lawsuit against EpiPen maker Mylan over the nearly 500% increase in the cost of the epinephrine injector since Mylan acquired the device in 2007.
The suit, filed yesterday in Hamilton County Common Pleas Court, seeks an unspecified amount of damages for its 25 plaintiffs, according to Cincinnati.com. Plaintiffs’ attorney Carl Lewis said the roster of plaintiffs could increase significantly, according to the website. Read more
Insulet said yesterday that it plans to fund a new, automated U.S. plant in part with the proceeds from a $250 million debt offering.
Billerica, Mass.-based Insulet, which makes the Omnipod insulin management system for treating diabetes, said the private placement offering of senior notes due in 2021 includes an option on another $37.5 million worth of the notes. The company yesterday revealed that it inked a 5-year deal with ATS Automation Tooling Systems to construct an automated manufacturing assembly line. Read more
St. Jude Medical said today that it sued the short seller and the hacking shop behind a report of alleged cybersecurity vulnerabilities that’s shaved 5% from its share price since August 25.
Little Canada, Minn.-based St. Jude said the lawsuit was filed against Muddy Waters Consulting and its founder, well-known short-seller Carson Block, plus hacking shop MedSec, its CEO Justine Bone and advisor Dr. Hemal Nayak. The lawsuit accuses the defendants of making false statements, false advertising, conspiracy and “the related manipulation of the public markets in connection with St. Jude Medical’s implantable cardiac management devices.” Read more