3M (NYSE:MMM) said yesterday that its board of directors nominated CEO Mike Roman as its new chairperson, with current exec chair Inge Thulin announcing their intention to retire. The move is slated to take effect following the St. Paul, Minn.-based company’s annual meeting of shareholders on May 14. “Under Inge’s leadership, 3M evolved into a more […]
NxThera spinout NxPhase lands $10m for vapor ablation tech
NxPhase Medical – spun out of NxThera when Boston Scientific bought it this year– has raised more than $10 million, according to a recent U.S. Securities and Exchange Commission filing. Maple Grove, Minn.–based NxPhase is focused on using convective thermal water vapor to treat prostate, kidney, and bladder cancer, according to its LinkedIn page. Get the […]
Boston Scientific closes $400m NxThera buy
Boston Scientific (NYSE:BSX) said today that it closed the $406 million acquisition of NxThera and its Rezūm benign prostatic hyperplasia device, which uses steam to ablate excess prostate tissue. The deal called for $306 million in up-front cash from Marlborough, Mass.-based Boston Scientific, with another $100 million in potential milestones over the next four years. Boston, which in December 2015 led […]
UPDATE: Boston Scientific lays out $406m for NxThera which plans spin-out of cancer treatment tech
Updated with comments from NxThera president & CEO Bob Paulson. Boston Scientific (NYSE:BSX) said today that it laid out a $406 million deal for NxThera and its Rezūm benign prostatic hyperplasia device, which uses steam to ablate excess prostate tissue. The deal calls for $306 million in up-front cash from Marlborough, Mass.-based Boston Scientific, with another $100 million in […]
NxThera touts 3-year Rezūm trial results
NxThera today released three-year results from a trial of its Rezūm convective water vapor wave energy system, touting effective and durable relief from lower urinary tract symptoms for patients with benign prostatic hyperplasia. The trial was co-authored by co-principal investigators Dr. Kevin McVary of Southern Illinois University School of Medicine and Dr. Claus Roehrborn of the […]
NxThera adds $6m for Rezūm prostate device
NxThera said this week that it added another $6 million to its coffers in an ongoing round of debt financing. The Maple Grove, Minn.-based company is offering convertible promissory notes and Series C preferred stock warrants in the round, according to the filing, with the first sale logged Jan. 13. NxThera said it’s looking to raise […]
7 medtech stories we missed this week: May 19, 2017
From FDA clearances to touting study data, here are 7 medtech stories we missed this week but thought were still worth mentioning. 1. XpandOrtho wins FDA 510(k) clearance XpandOrtho announced in a May 17 press release that it has received FDA 510(k) clearance for its electronic soft tissue balancing instrument for total knee replacement surgery. […]
NxThera touts reimbursement win with Humana, Aetna
NxThera said today that health insurers Humana and Aetna will now provide coverage for its Rezūm system designed for the minimally invasive treatment of benign prostatic hyperplasia, or enlarged prostate. NxThera’s Rezūm system is designed to use radiofrequency current to create thermal energy to ablate obstructive prostate tissue which causes BPH through targeted treatments. The Maple […]
NxThera raises $15 million
NxThera has raised $14.6 million in a new round of debt financing, according to an SEC filing posted this week. The Maple Grove, Minn.-based company is offering convertible promissory notes and Series C preferred stock warrants in the round, according to the filing, with the 1st sale noted on Jan. 13. NxThera is looking to […]
NxThera raises $12.2m
NxThera raised $12.2 million in a new round of financing, according to an SEC filing posted this week. Funds in the round come through the offering of debt, warrants, convertible promissory notes and Series C preferred stock warrants, according to the filing. Funds in the round were raised by 28 unnamed US purchasers, according to the SEC […]
Boston Scientific leads $40m round for NxThera
NxThera said today that Boston Scientific (NYSE:BSX) led a $40 million funding round for its Rezūm device, saying it plans to boost its sales footprint in the U.S. and Europe. Existing backers Aberdare Ventures, Arboretum Ventures, GDN Holdings and The Ally Bridge Group also participated, Maple Grove, Minn.-based NxThera said. The company said it also expanded a […]
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