Another deal with KCI’s LifeCell division for vascular surgery applications for the Spy Elite device are still in place, Toronto-based Novadaq said.
"Termination of the agreements enables Novadaq to accelerate the launch of Luna in diagnostic wound care imaging applications," Novadaq president & CEO Dr. Arun Menawat said in prepared remarks. "We have already tested commercial first generation Luna systems in wound care clinics in the United States. These centers have reported that the use of Luna provides therapeutic benefits to the patient and economic benefits to the clinic."
Novadaq and KCI inked 2 7-year deals Nov. 29, 2011, for the exclusive rights to market Novadaq’s flagship Spy imaging system, with KCI providing market development and commercialization activities, according to a regulatory filing. Spiking those deals included a full mutual release for both firms and no compensation from either party to the other, according to the filing.
Medtech VC raises $7M
Aphelion Medical Fund II drummed up
$7.2 million from 17 unnamed investors for medical device investment, according to a regulatory filing. Aphelion is a venture capital shop "focused on supporting the growth of innovative medical technology," according to its website.
Cardica prices public offering
Cardica (NSDQ:CRDC) priced a public offering of nearly 14.3 million shares of its common stock at $1.05 per share, saying it plans to use the roughly $15 million in gross proceeds for "general corporate purposes."
CRDC shares were trading at $1.29 apiece, down 7.9%, as of about noon today.
InfraReDx, Philips release integrated cardiology suite
InfraReDx and Philips (NYSE:PHG) launched the fruit of a joint development and collaboration agreement inked last year to integrate InfraReDx’s true vessel characterization imaging system with Philips’ Allura Xper catheterization lab imaging systems.
Rockwell Medical, NxStage ink supply deal
Rockwell Medical (NSDQ:RMTI) will supply NxStage Medical (NSDQ:NXTM) with its dialysate concentrate for the NxStage System One home hemodialysis device under the terms of a new 2-year deal.
- Abiomed (NSDQ:ABMD): William Blair initiates coverage with “outperform” rating.
- Analogic (NSDQ:ALOG): Benchmark Co. reiterates “buy” rating, $87 price target.
- AngioDynamics (NSDQ:ANGO): Piper Jaffray lowers price target from $12 to $11, maintains “neutral” rating.
- Cardiovascular Systems (NSDQ:CSII): Benchmark Co reiterates "speculative buy" rating, raises price target from $18 to $24.
- C.R. Bard (NYSE:BCR): Zacks reiterates “neutral” rating.
- HeartWare International (NSDQ:HTWR): J.P. Morgan reiterates “overweight” rating, $115 price target.
- Imris Inc. (TSX:IM): Paradigm Capital reiterates “buy” rating, lowers price target from $6 to $5.50.
- Intuitive Surgical (NSDQ:ISRG): Cantor Fitzgerald upgrades from “hold” to “buy” rating; Northland Capital initiates coverage with “under perform” rating, $400 price target.
- Medtronic (NYSE:MDT): BMO Capital Markets maintains “outperform” rating, $52 price target; TheStreet reiterates "buy" rating.
- Merit Medical (NSDQ:MMSI): TheStreet Ratings upgrades to “buy” rating.
- NxStage Medical (NSDQ:NXTM): Canaccord Genuity raises price target from $17 to $18; Leerink Swann reiterates "outperform" rating, $14-$16 price target.
- Orthofix (NSDQ:OFIX): Piper Jaffray reiterates “neutral” rating, $43 price target.
- Triad Group (LON:TRD): Canaccord Genuity analyst reiterates “neutral” rating, raises price target from $18.50 to $19.50.
- Sirona Dental Systems (NSDQ:SIRO): Jefferies maintains “buy” rating, raises price target from $80 to $83.
- Spectranetics (NSDQ:SPNC): Benchmark lowers price target from $7 to $4, maintains “buy” rating.
- Synergetics (NSDQ:SURG): Wunderlich Securities downgrades from “buy” to “hold” rating, lowers price target from $8 to $5.50.
- Volcano (NSDQ:VOLC): Leerink Swann maintains “outperform” rating, $30 price target.
- Zeltiq (NSDQ:ZLTQ): Goldman Sachs reiterates “neutral” rating, lowers price target from $4.60 to $4.50.