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Seventh Sense Biosystems wins FDA nod for blood collection device

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Seventh Sense Biosystems said today its Tap blood collection device won FDA 510(k) clearance. The company’s push-botton device collects capillary blood for hemoglobin A1C testing without the use of large needles. The Tap device is designed to be placed on the upper arm and blood collection, which takes 2 to 3 minutes, begins with a […]

Seventh Sense raises $10m in Series C

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Seventh Sense Biosystems said  today it raised $10 million in a Series C funding round to support its Tap push-button blood collection device, as well as new product development and increasing production capacity. Joining the round are existing investors Novartis, Laboratory Corp of America Holdings, Polaris Partners and Flagship Ventures. “We’re bolstered by the confidence our […]

Seventh Sense launches pivotal trial for Tap100 blood draw device

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Seventh Sense Biosystems said today it launched a pivotal trial for its Tap100 touch activated blood collection device. Medford, Mass.-based Seventh Sense said it expects to file for marketing authorization in the U.S. and European Union in the 2nd quarter of 2016, with a hopeful date for CE Mark approval in the European Union and […]

Lost lawsuit pushes HemCon Medical into bankruptcy | Wall Street Beat

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MassDevice.com Wall Street Beat

HemCon Medical Technologies said it’s filing for Chapter 11 bankruptcy protection for its U.S. operation after losing a $34.2 million court decision last month, saying it plans to appeal the ruling.

In March a sharply split U.S. Court of Appeals for the Federal Circuit reversed course and reinstated a win for Marine Polymer Technologies in its wound dressing patent spat with HemCon.

Mela Sciences announces $15M public offering | Funding Roundup

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Mela Sciences (NSDQ:MELA) priced a public offering of 5 million shares of common stock at $3.25 per share, hoping to raise up to $14.9 million.

President & CEO Joseph Gulfo and director Robert Coradini agreed to purchase 43,000 shares at the Dec. 15 closing price of $3.97 per share.

Quintiles aims to restructure debt with $2 billion in credit | Funding roundup

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Funding

Quintiles is resuming its plans to raise more than $2 billion in bank financing.

The Durham, N.C.-based, contract research organization is planning to enter into a new $2.2 billion credit facility, with proceeds from the borrowed funding being used to refinance $1.7 billion in existing debt, including an offer to buy $525 million of 9.5 percent outstanding senior notes that are due in 2014.

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