A federal judge in Dallas, Texas has dealt investors in the bankrupt Palmaz Scientific another blow, tossing five of their negligence claims against investment bank Jefferies & Co. Co-founded by coronary stent pioneer Dr. Julio Palmaz in 2008, San Antonio-based Palmaz Scientific tapped Jefferies for a $7.5 million fundraising round in 2010, according to the […]
Palmaz Scientific co-founders, board sued by bankruptcy trustee
A trustee in the bankruptcy proceedings for Palmaz Scientific Inc. last week sued its co-founders and members of its board, alleging that they looted the company before declaring bankruptcy last year. Co-founded by coronary stent pioneer Dr. Julio Palmaz and CEO Steven Solomon in 2008 to commercialize Palmaz’s ideas, PSI raised about $40 million before pulling the plug in a […]
Questions surface about Palmaz Scientific’s fundraising
Palmaz Scientific, which filed for Chapter 11 bankruptcy protection last month, is reportedly embroiled in a dispute with Jefferies & Co. over its claim that the prominent investment bank was the placement agent for a funding round in 2012 and 2013. Co-founded by coronary stent pioneer Dr. Julio Palmaz in 2008, the San Antonio, Texas-based company […]
Palmaz Scientific, seeking buyer, files for bankruptcy protection
Palmaz Scientific said last week that it filed for Chapter 11 bankruptcy protection while it seeks a buyer for the medical alloy technology it was developing, claiming its ability to attract investors was “seriously impaired by a negative campaign of false information.” Co-founded by coronary stent pioneer Dr. Julio Palmaz in 2008, the San Antonio, […]
Palmaz taps new CEO
Palmaz Scientific said today that it named medtech veteran Dr. Philippe Henri Marco to replace Steven Solomon as president and CEO, after Solomon left last month “to pursue other opportunities.” Marco, a general partner at Chansu Consulting, was COO at CV Ingenuity until its 2013 acquisition by Covidien. His resume includes stints as VP of clinical, regulatory […]
Ex-KCI chief Burzik bows out of Palmaz Scientific
Cathy Burzik, the former CEO of Kinetic Concepts Inc., is no longer slated to take the helm at Palmaz Scientific, the company co-founded by coronary stent pioneer Dr. Julio Palmaz in 2008, Palmaz told MassDevice.com today. “We essentially decided not to do the deal because we just didn’t agree,” Palmaz told us in a brief telephone […]
EXCLUSIVE: Palmaz Scientific, out of cash, taps ex-KCI CEO Burzik
UPDATED August 17, 2015, 5 p.m., with comment from Julio Palmaz. Palmaz Scientific, the company co-founded by coronary stent pioneer Dr. Julio Palmaz in 2008, is out of cash and looking for a new CEO, according to a letter to shareholders obtained by MassDevice.com. Julio Palmaz plans to step down from his chairman’s role at Palmaz Scientific, […]
Stryker agrees to pay $80M to settle OtisMed beef | Medtech legal news for the week of December 8, 2014
Palmaz Scientific sues law firms
Palmaz Scientific sued a pair of law firms that once represented it, alleging that they conspired to conceal 1 of the firms’ liability in an arbitration dispute with a former Palmaz limited partner, according to court documents.
Silicon Valley Bank’s Ben Johnson talks early-stage medtech investment slump | Medtech funding for the week of September 22, 2014
Palmaz Scientific uncorks more funding
Palmaz Scientific recorded $1.3 million of a planned $4.2 million funding round for the prosthetic implant technology it’s developing in Dallas.
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