Shares of St. Jude Medical (NYSE:STJ) clawed back some of the value lost yesterday in what 1 waggish analyst termed a “Greek tragedy.”
STJ shares closed down 3.3% yesterday at $39.96 when the company revealed a $56 million writedown after a Greek distributor failed to pay up for an estimated 2 years worth of sales.
MASSDEVICE ON CALL — BioMimetic Therapeutics (NSDQ:BMTI) cut 25% of its workers in hopes of saving some cash in focusing on getting FDA pre-market approval for its Augment bone graft.
The federal watchdog agency’s advisory panel recommended approving the treatment in May 2011, after releasing a dim summary of the pre-market approval application that sunk BMTI shares by more than 35%.
MASSDEVICE ON CALL — Sanovas is expanding its corporate headquarters and opening a manufacturing facility in Sausalito, Calif. as it prepares to file for FDA clearance for its drug-delivery technology.
The company’s micro-surgical technologies feature what Sanovas calls the world’s smallest surgical camera to access hard-to-reach areas of the body and provide minimally invasive diagnosis, treatment and drug delivery, according to a press release.
A research team from Worcester Polytechnic Institute won a $1.2 million grant from the National Science Foundation to develop a smart phone app for people with advanced diabetes.
The proposed application, currently named "sugar," will link a patient’s smart phone, glucose meter and scale to track and archive blood sugar levels and weight. Patients with foot ulcers will be able to use the phone’s camera to capture and analyze images of the lesions.
Advanced Cell Technology (OTC:ACTC) appointed MIT professor and bioengineering legend Bob Langer to its board of directors, tapping him to lead its science advisory committee.
Langer has authored more than 1,100 journal articles, has more than 800 issued and pending patents and won the 2011 Warren Alpert Foundation Prize for bioengineering pioneers thanks to his work in drug delivery and tissue engineering.
Scientific Luminary Dr. Robert Langer Joins ACT’s Board of Directors
World-renowned scientist and youngest member ever elected to all three U.S. National Academies; Also named One of the 100 Most Important People in America by Time Magazine and CNN
MARLBOROUGH, Mass. — Oct. 5, 2011 – Advanced Cell Technology, Inc. (“ACT”; OTCBB: ACTC), a leader in the field of regenerative medicine, announced today that Robert S. Langer, David H. Koch Institute Professor at the Massachusetts Institute of Technology (MIT), has been appointed to the company’s Board of Directors, and will also serve as the Chair of the Board’s Science Advisory Committee.
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Advanced Cell Technology Inc. (OTC:ACTC) is set to begin Europe’s first study involving human embryonic stem cells, as it begins a trial to consider an experimental treatment for a form of juvenile blindness.
"This is the first time an embryonic stem cell trial has ever been approved anywhere else in the world [outside the U.S.]," chief scientific officer Dr. Robert Lanza said.