Microcatheter maker iScience Interventional announced an investment by med-tech goliath Medtronic Inc. (NYSE:MDT) to support the commercialization of its drug delivery technologies.
The Menlo Park, Calif.-based company’s microcatheter is used during the surgical treatment of glaucoma to deliver drugs to the eye.
MASSDEVICE ON CALL — A Mumbai patient was on his feet one day after a physician performed knee replacement surgery on him using an iPod Touch.
Using a Smith & Nephew plc (NYSE:SNN) implant, Dr. Arun Mullaji performed the first commercial non-experimental orthopedic surgery in Asia to use an iPod Touch with tiny instruments attached to itself.
Mendor, a Finish diabetes technologies and services company, raised $11.7 million in a Series B financing round, aiming for global expansion.
Funding was led by Finnish entrepreneur and investor Risto Siilasmaa, joined by Life Sciences Partners (LSP), Finnish Industry Investment Ltd., Finnish Mutual Pension Insurance Company Ilmarinen, private Finnish investment group Biothom and the Finnvera Venture Capital as a returning investor.
St. Jude Medical Inc. (NYSE:STJ) invested in a startup developing leadless pacemakers.
The St. Paul, Minn.-based cardiac device maker entered a financing deal with Nanostim Inc. through which it intends to make staged investments based on the company’s achievement of certain development and clinical milestones, according to a statement from Nanotism.
The agreement between the two companies also gives St. Jude the exclusive option to acquire the Milpitas, Calif.-based company.
Taris Biomedical Inc. drummed up $18.3 million in its latest funding round.
Lexington, Mass.-based company said the equity-based B round will support its lidocaine delivery technology developed at MIT to treat bladder conditions.
Third Rock Ventures, a new backer for the company, led the round, and previous investors Flagship Ventures, Flybridge Capital Partners and Polaris Venture Partners also participated in the financing.
Pressure BioSciences boosts Q3 sales, cuts losses
Pressure BioSciences Inc. (NSDQ:PBIO) reported a loss of $693,000, or 26 cents per share, on revenue of $372,000 during the three months ended Sept. 30. That compares with losses of about $776,000, or 35 cents per share, on revenue of $317,427 during the same period last year.
Pressure BioSciences Inc.’s (NSDQ:PBIO) high pressure laboratory sample preparation systems are headed to the Lawrence Berkeley National Laboratory to help scientists better understand the microorganisms that inhabit naturally occurring oil plumes.
The researchers hope that increased understanding of oil-degrading microbes will lead to more environmentally sound tactics for cleaning up oil spills.
LBNL post-doctoral fellow Olivia Mason said the researchers are attempting to determine the microbes’ role in bio-remediation of deep-sea oil plumes.
Pressure BioSciences Inc. (NSDQ:PBIO) saw revenues nearly double during the second quarter, but net losses increased by 9.0 percent.
The Easton, Mass.-based pressure cycling equipment maker posted a net loss of $925,000, or 35 cents per diluted share, on sales of $402,000 during the three months ended June 30. That compares with net losses of $848,000, or 39 cents per share, on sales of $270,000 during the same period last year.
Pressure BioSciences Inc. (NSDQ:PBIO) seated Alan Goldberg to its board of directors, the company announced today.
Goldberg, who first invested in the Pressure BioSciences in 2007, filled a seat that has been vacant since the South Easton, Mass.-based company’s shareholders voted to amend the its articles of incorporation and divide the board into three classes, according to the company.
Pressure BioSciences Inc. (NSDQ:PBIO) inked a research and development deal with the U.S. military and the American Registry of Pathology.
The deal will see the South Easton, Mass.-based company co-develop pressure-based methods to enhance the extraction of DNA, RNA, proteins, lipids and other mall molecules from tissue samples.
Winter weather and an expensive patents battle combined to reduce revenues and increase the net loss at Pressure BioSciences during the first quarter of 2010.
Heavy snowfall this winter along the East Coast may have kept new salespeople out of the field for extended periods and contributed to a small decline in first-quarter sales at Pressure BioSciences Inc. (NSDQ:PBIO).
Overall sales for the three months ended March 31 were $291,000, down about $16,000 from the year-ago period. The net loss during the quarter was $911,000, or more than four times the $224,000 reported for the first quarter of 2009.
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