Losses for Biomet Inc., a bellwether for the U.S. orthopedic market, soared during the fourth quarter and fiscal 2011, largely due to a nearly $1 billion writedown related to its re-assessment of the European market.
Mendor, a Finish diabetes technologies and services company, raised $11.7 million in a Series B financing round, aiming for global expansion.
Funding was led by Finnish entrepreneur and investor Risto Siilasmaa, joined by Life Sciences Partners (LSP), Finnish Industry Investment Ltd., Finnish Mutual Pension Insurance Company Ilmarinen, private Finnish investment group Biothom and the Finnvera Venture Capital as a returning investor.
Taris Biomedical Inc. drummed up $18.3 million in its latest funding round.
Lexington, Mass.-based company said the equity-based B round will support its lidocaine delivery technology developed at MIT to treat bladder conditions.
Third Rock Ventures, a new backer for the company, led the round, and previous investors Flagship Ventures, Flybridge Capital Partners and Polaris Venture Partners also participated in the financing.
Biolase Technology Inc. (NSDQ:BLTI) stock is getting a big boost today, with shares climbing more than 16 percent to reach their best levels since June 2008 after the company received a U.S. patent for tools that make it easier to see structures inside the eye.
Saying it must fundamentally change the way it does business, Biolase Technology Inc. (NSDQ:BLTI) brought a familiar face, Federico Pignatelli, back as its new chairman and interim CEO.
In a conference call today detailing the changes, newly-appointed chairman Federico Pignatelli said shareholders sent a clear message this year when they voted out the entire slate of directors up for re-election, except Pignatelli. Five other board members have since resigned, he said.