NuOrtho Surgical Inc.
Bankrupt NuOrtho Surgical looks to liquidate
After a 7-year run Fall River, Mass.-based NuOrtho Surgical filed for Chapter 7 bankruptcy, listing liabilities of $4.74 million and assets of $287,117. Nearly 40 patents were also cited in the filing, some of which had been used as collateral.
NuOrtho wins FDA clearance for electrosurgical probe
Surgical instruments maker NuOrtho Surgical Inc. won 510(k) clearance from the Food & Drug Administration for its Ceruleau electrosurgical probe.
The device is the first of the Fall River, Mass.-based company’s tissue preservation surgical tools. The Ceruleau is a 3.5mm arthroscopic radio frequency electrosurgical probe designed to use low-level radio frequencies to smooth and contour frayed or torn cartilage while avoiding damage to adjacent cartilage, according to a press release.
New England medical device developers reel in $3.2 million
Six medical device makers in Massachusetts and Connecticut raised more than $2.6 million in various fundraising offerings during May and June, according to regulatory filings.
Audax Medical of Littleton, Mass., pulled in just more than $686,000 in a pair of equity offerings, according to filings filings with the Securities & Exchange Commission.
NuOrtho adds Stryker vet to board
NuOrtho Surgical Inc. named Darik Volpa to its board of directors.
Volpa, a former manager at Stryker Corp. (NYSE:SYK), is the founder of understand.com, which provides 3-D animations of surgical procedures for patients and physicians.
NuOrtho Surgical adds Ian McRury as CSO
NuOrtho Surgical Inc. added another former Johnson & Johnson (NYSE:JNJ) alum to its executive suite, naming Ian McRury as its new chief science officer.
McRury’s most recent position was research and development manager for CR Bard Inc. (NYSE:BCR). He also spent nine years as a principal engineer for J&J’s DePuy Mitek division in Raynham, Mass.
NuOrtho, which is headquartered in Fall River, Mass., is developing a device that uses radio frequencies to repair torn or frayed cartilage in the knee. The company has raised $2 million to date in two rounds of financing.
