Boston Scientific (NYSE:BSX) will appeal a court order requiring it to complete its $275 million purchase of Channel Medsystems. On Dec. 10. 2019, a Delaware chancery court judge ordered Boston Scientific to finish the merger. In a lawsuit filed in September 2018, Channel claimed that Boston Scientific spiked the deal over a former Channel employee’s scheme to […]
Judge orders Boston Scientific to complete $275 million merger
A Delaware chancery court judge yesterday ordered Boston Scientific (NYSE:BSX) to complete its failed $275 million buyout of Channel Medsystems. In a lawsuit filed in September 2018, Channel claimed that Boston Scientific spiked the deal over a former Channel employee’s scheme to embezzle nearly $3 million from the women’s health company. Emeryville, Calif.-based Channel Medsystems […]
Channel Medsystems wins PMA for Cerene cryoablation device
Channel Medsystems last week won pre-market approval from the FDA for its Cerene endometrial cryoablation device, starting the clock on a mandatory three-year post-approval study. Cerene, which is designed to treat heavy but benign bleeding in premenopausal women for whom child bearing is complete, won CE Mark approval in the European Union in June 2017. The PMA […]
Delaware court fast-tracks Channel Medsystems suit against Boston Scientific
A Delaware state court yesterday expedited a lawsuit brought by Channel Medsystems against Boston Scientific (NYSE:BSX) over a failed $275 million buyout. The lawsuit alleges that Boston Scientific spiked the deal over a former Channel employee’s alleged scheme to embezzle nearly $3 million from the women’s health company. Emeryville, Calif.-based Channel Medsystems developed Cerene, a cryogen-based endometrial ablation system […]
Channel Medsystems sues Boston Scientific over spiked $275m buyout
Channel Medsystems sued Boston Scientific (NYSE:BSX) this week over a $275 million buyout that Boston allegedly spiked over a former Channel employee’s alleged scheme to embezzle nearly $3 million from the women’s health company. Emeryville, Calif.-based Channel Medsystems developed Cerene, a cryogen-based endometrial ablation system designed to treat heavy menstrual bleeding that won CE Mark approval in the […]
Channel Medsystems adds another $14m for Cerene device
Nearly two months after winning CE Mark approval in European Union for its Cerene device, Channel Medsystems brought in a Series C1 round worth $14.1 million. Participants included previous backers Boston Scientific (NYSE:BSX), Third Point Ventures, InCube Ventures, Aperture Venture Partners, Scientific Health Development and Longwood Fund, the Emeryville, Calif.-based company said. Cerene, a cryogen-based endometrial ablation system […]
Channel Medsystems wins CE Mark for Cerene cryotherapy device
Channel Medsystems said today it won CE Mark approval in the European Union for its Cerene cryotherapy endometrial ablation device designed for treating women with heavy menstrual bleeding due to benign causes. The Emeryville, Calif.-based company said that current endometrial ablation procedures can be painful and require general anesthesia, but its Cerene device and associated procedure […]
FDA clears Channel Medical Cerene endometrial ablation trial
Channel Medsystems said today it won FDA investigational device exemption trial approval to run a pivotal trial of its Cerene cryotherapy device designed for endometrial ablation. The multicenter pivotal trial aims to examine the safety and effectiveness of the Emeryville, Calif.-based company’s Cerene device in endometrial ablation procedures for women with heavy menstrual bleeding who […]
Channel Medsystems raises $23.8m
Channel Medsystems raised $23.8 million in a new equity financing round, where it is seeking $29.5 million, according to an SEC filing. The company is developing a global cryogen-based endometrial ablation technology system, with an initial application of endometrial ablation for women with heavy menstrual bleeding, Emeryville, Calif.-based Channel Medsystems said. Channel Medsystems found 23 unnamed […]
Boston Scientific leads $9.7M Series B round for Channel Medsystems
Massachusetts-based medical device industry giant Boston Scientific (NYSE:BSX) led investment in the latest funding round for Channel Medsystems, a clinical-stage cryoablation delivery systems maker.
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