MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Updated: Greener pastures lure Delcath and Osteologix, more details emerge

Updated: Greener pastures lure Delcath and Osteologix, more details emerge

By

Updated 8/8/2011 7:15 p.m.

Osteologix
Ireland
Delcath

Delcath Systems Inc. (NSDQ:DCTH) and Osteologix Holdings plc (PINK:OLGXF) planted roots in Ireland this month.

New York-based chemotherapy device maker Delcath landed a grant from the Irish government to support training of marketing, sales and logistics teams at its new European operations center in Galway, Ireland, under Delcath Systems Limited.

"The region is the European home for many international medical device and pharmaceutical companies attracted by its pro-business environment, efficient tax system, logistics and cost advantages, and deep pool of qualified management talent," president & CEO Eamonn Hobbs said in prepared remarks.

Delcath has a 20,000 square-foot building picked out in the IDA Business Mark, where recruiting is already underway, company spokesperson Steve DiMattia told MassDevice. Initial staffing calls for up to 35 marketing, sales and logistics personnel, and recruiting will continue for the next six to 12 months.

The facility should open in Q4 2011, DiMattia told us.

The overseas regulatory process has been a much easier one to traverse, and the company’s flagship isolated chemotherapy delivery system, Chemosat, won CE Mark approval in the European Union in April, Hobbs told MassDevice in June.

"We expect to have regulatory approval in countries in Asia, South America, Central America and Canada, the Middle East and Africa starting in 2012," he said. "We should have regulatory approval in virtually all the countries by the end of 2013."

Shares of Delcath stock were trading at $3.21 at midday today, a 14 percent decrease from yesterday’s close at $3.75.

Osteoporosis therapy company Osteologix moved its corporate headquarters to Ireland, having shut down its Glen Allen, Va., facility entirely. It also dissolved parent company Osteologix Inc. (OTC:OLGX) and deregistered from the NASDAQ stock exchange, per announcements made in December.

OLGXF stock opened at 26 cents per share today, after OLGX closed at that price on July 26.

Osteologix hopes to minimize corporate overhead, maximize licensing agreements with research groups and seek out development partners in the U.S., according to a press release.

In case you missed it

RSS From Medical Design & Outsourcing

  • The 24 best medical device innovations of 2022
    The Galien Foundation recently announced its nominees of medical device innovations for its 2022 Prix Galien USA awards. There are 24 medical technologies nominated for the annual award this year, up from 18 nominees in 2021. The Galien Foundation’s annual Prix Galien awards highlight devices, biotechnology and pharmaceutical products designed to improve the human condition.… […]
  • FDA issues new COVID-19 testing guidance to avoid false negatives
    COVID-19 testing should be repeated following a negative result on any antigen test, the FDA said in a move that could increase demand for diagnostics manufacturers. The latest guidance from the federal health agency is for negative COVID-19 antigen test results regardless of the presence or absence of symptoms. The federal agency said recent studies… […]
  • Confluent Medical expands Costa Rica manufacturing footprint for nitinol, complex catheter production
    Confluent Medical Technologies this week announced the opening of its new addition to its Costa Rica manufacturing facility. The expansion adds 66,000 sq. ft to its large-scale manufacturing center of excellence in Alajuela, Costa Rica to expand Confluent’s capacity for nitinol component processing and complex catheter manufacturing. “Confluent has experienced consistent and strong growth in… […]
  • FDA’s breakthrough medical device designations tally nears 700
    Stewart Eisenhart, Emergo Group The US Food and Drug Administration has granted almost 700 designations over the past seven years under a voluntary program for expedited regulatory review of medical devices and combination products that facilitate more effective treatment or diagnosis of serious diseases. According to recent metrics published by FDA, the agency has issued a total of… […]
  • Lifecore Biomedical’s owner plans to go all-in on contract development and manufacturing
    Lifecore Biomedical parent company Landec Corp. (Nasdaq:LNDC) plans to take the subsidiary’s name, leadership and headquarters as its own and sell off food businesses to focus on contract development and manufacturing. Santa Maria, California-based Landec said it will rename itself as Lifecore Biomedical “in the near future” and change its Nasdaq ticker to LFCR. Landec… […]
  • COVID-19 immunity test developers at MIT seek diagnostic manufacturer
    MIT researchers have developed a device for predicting an individual’s COVID-19 immunity and are looking for a diagnostic company to get it manufactured in large numbers and approved by the FDA. The lateral flow test uses the same technology as at-home rapid antigen COVID-19 tests to measure neutralizing antibodies for SARS-CoV-2 in a blood sample,… […]
  • GE Healthcare picks AI imaging startups for inaugural Edison Accelerator
    GE Healthcare and Nex Cubed have selected seven companies focused on artificial-intelligence-augmented medical imaging for the first cohort of the Edison Accelerator in Canada. The companies will be matched with mentors and test their technologies with GE’s new Edison Digital Health Platform over the next three months. The program will end with innovation showcase presentations… […]
  • Boston Scientific whistleblower launches corruption investigation
    Boston Scientific (NYSE:BSX) is investigating claims that the company violated the U.S. Foreign Corrupt Practices Act in Vietnam. Marlborough, Massachusetts–based Boston Scientific disclosed receipt of a whistleblower’s allegations in its latest filing with the Securities and Exchange Commission. “In March 2022, the company received a whistleblower letter alleging Foreign Corrupt Practices Act violations in Vietnam.… […]
  • 5 essential leadership lessons from Cathy Burzik for medtech’s next generation of women leaders
    Cathy Burzik, a seasoned senior executive in the healthcare industry, has successfully led major medical device, diagnostic, diagnostic imaging and life sciences businesses. Cathy Burzik, CFB Interests (as told to MedExecWomen co-founder Maria Shepherd) One key to being a successful women leader in MedTech: “Play nice, but play to win.” Cathy Burzik, who received a… […]
  • Stratasys plans to buy Covestro’s additive manufacturing business
    Stratasys (Nasdaq:SSYS) said today that it has a deal to purchase the additive manufacturing materials business of Covestro. The deal includes R&D facilities and activities, global development and sales teams across Europe, the U.S. and China, a portfolio of approximately 60 additive manufacturing materials, and hundreds of patents and patents pending, Stratasys said in a… […]
  • New implant design prevents scar tissue without drugs, MIT says
    Mechanically inflating and deflating an implantable device for 10 minutes a day prevents immune cells from building the scar tissue that has been a major obstacle for artificial pancreas researchers. That’s according to new findings from a team of MIT engineers who built mechanical deflection into a two-chambered, soft polyurethane device tested on mice. By… […]

Leave a Reply