Fewer medical device companies are securing their first big venture capital investments — or engaging in large mergers — amid the COVID-19 pandemic, according to recently released reports from Silicon Valley Bank and PwC. The medical device industry saw 38 Series A investments worth $279 million during the first half of 2020, down from 45 […]
coronavirus
Here at MassDevice — medtech's online business journal — we're covering news about the coronavirus (COVID-19) pandemic daily. Here is the latest about coronavirus and the medical device industry, regulatory changes related to the pandemic, new tests for the virus, vaccine development, and much more.
The top 5 medtech stories of the week — July 24, 2020
COVID-19 is surging back in the U.S., new jobless claims are up, but MassDevice’s most-read stories this week were mostly optimistic. That’s the takeaway from our inaugural MassDevice Top Five — a weekly recap of the most-read stories on MassDevice, the online business journal of the medical device industry. Want to hear more about the […]
Inovio to scale up production of smart delivery device for potential COVID-19 vaccine
Inovio Pharmaceuticals (NSDQ:INO) announced that it received $71 million from the U.S. Defense Dept. to support its Cellectra 3PSP smart device. Funding from the DoD is set to support large-scale manufacturing for the Cellectra 3PSP and the procurement of Cellectra 2000 devices, which are used to deliver its INO-4800 COVID-19 vaccine candidate directly into the skin. […]
Thermo Fisher rises on COVID-19 response-driven Q2
Thermo Fisher Scientific (NYSE:TMO) shares got a boost today on second-quarter results that came in well above the consensus forecast. The Waltham, Mass.-based company posted profits of $1.2 billion, or $2.90 per share, on sales of $6.9 billion for the three months ended June 27, 2020, for a 3.3% bottom-line gain on sales growth of 9.5%. […]
Medtronic Foundation pledges $16m to racial equity groups, Minneapolis rebuilding
The Medtronic Foundation today announced a $16 million commitment to partnerships with organizations working to bring about social justice and equity, improve the lives of Black Americans, and help heal and advance the broader community. The foundation is entering into long-term, multi-year partnerships with the following organizations: Thurgood Marshall College Fund, to fund scholarships for […]
HHS taps Pfizer to produce millions of COVID-19 vaccine doses
Two U.S. government agencies today announced an agreement with Pfizer (NYSE:PFE) for production and delivery of 100 million doses of a COVID-19 vaccine. The U.S. Dept. of Health and Human Services, along with the U.S. Defense Dept., agreed to the large-scale production and U.S. delivery deal once Pfizer’s vaccine is successfully manufactured and approved. In addition to […]
PerkinElmer launches dried blood spot COVID-19 serology test
PerkinElmer (NYSE:PKI) announced today that it launched a dry blood spot (DBS) based test for SARS-CoV-2 IgG amid the COVID-19 pandemic. Using the Waltham, Mass.-based company’s GSP/DELFIA platform that processes up to 5,000 samples per day, the finger-prick sample system allows for decentralized sample collection and high-throughput testing, according to a news release. The DBS assay […]
BD lands order for 177m injection devices for COVID-19
Becton Dickinson (NYSE:BDX) today said it received additional pandemic orders for needles and syringes from the U.S. and Canada, totaling 177 million devices. The U.S. ordered an additional 140 million injection devices, bringing the total orders from BD to 190 million devices. Canada ordered an additional 37 million devices, totaling 75 million devices from BD. BD […]
AdvaMed unveils COVID-19 diagnostic supply registry
AdvaMed announced today that it created a comprehensive national COVID-19 diagnostic supply registry to aid state and federal pandemic responses. According to a news release, AdvaMed is launching the registry in partnership with 13 commercial diagnostics manufacturers: Abbott (NYSE:ABT), Becton Dickinson (NYSE:BDX), bioMérieux, Bio-Rad Laboratories (NYSE:BIO), Beckman Coulter, Cepheid, Hologic (NSDQ:HOLX), Ortho Clinical Diagnostics, Qiagen (NYSE:QGEN), Roche Diagnostics, Sekisui Diagnostics, […]
NuVasive projecting losses up to $40m for Q2
NuVasive (NSDQ:NUVA) announced that it anticipates losses for the second quarter to come in around -$40 million amid the COVID-19 pandemic. The San Diego-based spine surgery technology developer said in a news release that preliminary results for the quarter, ended June 30, 2020, revealed an operating loss of between -$35 million and -$40 million on a […]
Philips rises on Street-beating Q2 revenues
Royal Philips (NYSE:PHG) shares finished up today on second-quarter results that topped the consensus revenue forecast. The Amsterdam-based company posted profits of $240.4 (€210 million), or 26¢ (€0.23) per share, on sales of $5 billion (€4.4 billion) for the three months ended June 30, 2020, for a -14.6% bottom-line slide on a sales decline of -5.9%. […]