Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 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.
3. Dune Medical secures $14M for breast cancer detection
Israeli imaging systems maker Dune Medical Devices touted the successful raise of $14 million in equity financing, looking to secure another $7 million before October to support its commercialization efforts.
The company’s flagship MarginProbe cancer detection system has been on the market since early last year, but Dune hopes to “significantly increase the market’s access to the MarginProbe throughout the U.S.” with the addition of news funds. Read more
2. Johnson & Johnson escapes lawsuit over ex-CEO Weldon’s pay
Johnson & Johnson yesterday escaped a shareholders derivative lawsuit alleging that the company over-paid former CEO William Weldon, who presided over a spate of recalls that bedeviled the healthcare giant a few years back.
The September 2011 lawsuit alleged that J&J’s board breached their fiduciary duties “by overcompensating Mr. Weldon in light of product recalls and other investigations and lawsuits involving J&J subsidiaries and by making misrepresentations in proxy statements relating to Mr. Weldon’s compensation in violation of J&J’s credo,” according to court documents. Read more
1. Study: Medtronic’s Reveal XT bests conventional follow-up
Results from a study sponsored by Medtronic, published today in the New England Journal of Medicine, found that the medical device company’s Reveal XT cardiac monitor bested conventional follow-up for detecting atrial fibrillation in patients who suffered a stroke of unknown origin.
The Crystal AF study, a randomized, controlled trial of 441 patients 40 years of age or older with no evidence of atrial fibrillation during at least 24 hours of ECG monitoring, set a primary endpoint of time to 1st detection of atrial fibrillation lasting more than 30 seconds within 6 months. Secondary endpoints included time to 1st detection of atrial fibrillation within 12 months. Read more
