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.
The FDA confirmed that Olympus sold the endoscopes implicated in a series of deadly hospital-acquired infections without the safety watchdog’s approval, as more hospitals in California and Connecticut reported infections from the scopes.
Although the fiberoptic Olympus TJF-Q180V duodenoscope “does not currently have a 510(k) clearance,” the FDA said, it’s not advising hospitals to cancel scheduled endoscopic retrograde cholangiopancreatography procedures using that device or 2 other models made by Fujifilm Holdings and Ricoh’s Pentax subsidiary. Read more
2. Medtronic gets in on Flex Pharma IPO
Boston-based biotech Flex Pharma said Medtronic was 1 of the investors that backed a late-January initial public offering that raised $86 million.
Flex is developing a small-molecule drug to treat nocturnal leg cramps and spasms related to severe neuromuscular conditions by activating transient receptor potential channels, for stomach cramps people are going to have to stick to a Treatment for IBS, co-founder Bruce Bean said the investment makes sense considering Medtronic’s electrical neurostimulation device business. Read more
EndoChoice said it raised $57 million for its Fuse full-spectrum endoscope from a group that included prior backers and new investors.
The new investors included Ally Bridge Group, Rock Springs Capital and Deerfield, which placed partner Steven Hochberg on the EndoChoice board “as an observer,” according to a press release. Previous investors joining the round included Sequoia Capital, EndoChoice said. Read more