Public offering pulls in $18.1M for EnteroMedics | Roka Bioscience enters $17.5M deal to sell assets to IEH unit | Private placements could bring in $4.3M for DarioHealth
August 18, 2017
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Public offering pulls in $18.1M for EnteroMedics
A public offering of Series B convertible preferred stock and stock purchase warrants has brought in $18.1 million for EnteroMedics. The proceeds will be used to continue the company's commercialization activities, as well as to for general corporate functions and clinical and product development.
MassDevice (Boston) (8/17) 
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Business & Market Trends
Roka Bioscience enters $17.5M deal to sell assets to IEH unit
A $17.5 million all-cash agreement has been reached by Roka Bioscience to sell substantially all of its assets to newly created Institute for Environmental Health subsidiary Rokabio. The deal, which comes as Roka's first step in liquidation, requires a $2.5 million milestone payment from Roka in conformity with a license deal and provision of transition services to IEH through the end of the year.
GenomeWeb Daily News (free registration) (8/17) 
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Private placements could bring in $4.3M for DarioHealth
Private placements of Series B convertible preferred stock and common stock could pull in $4.3 million for DarioHealth. Plans for the proceeds from the offerings, which are expected to close by Tuesday, have not yet been disclosed by the company.
MassDevice (Boston) (8/17) 
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Elidah eyes $2M in additional funds for stress urinary incontinence device
Monroe, Conn.-based Elidah is looking to obtain up to $2 million in additional proceeds after securing up to $750,000 in pledged investment from the state-backed Connecticut Innovations venture fund last month. The company plans to use the proceeds to market its Elitone wearable device for treating women with stress urinary incontinence if it secures approval from the FDA.
Connecticut Post (Fairfield County-Bridgeport) (8/17) 
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Report predicts growth for global minimally invasive spine surgery market
An Absolute Reports analysis predicts the worldwide minimally invasive spine surgery market will see a compound annual growth rate of 7.57% through 2021 because of an increasing incidence of spinal disorder. Key market players include DePuy Synthes, Stryker, Medtronic, Zimmer Biomet and NuVasive.
Becker's Spine Review (8/17) 
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Chief financial officer to retire from Chembio
Richard Larkin will retire as chief financial officer of Chembio Diagnostics by the end of the year. The company said it will immediately start an external search for Larkin's replacement.
Reuters (8/17) 
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Science & Health
Palmetto, Anthem to cover use of Myriad's breast cancer recurrence test
Myriad Genetics obtained positive coverage decisions from Anthem and Medicare contractor Palmetto GBA for its EndoPredict breast cancer recurrence test. Myriad estimated that upon full implementation of the decisions, 90% of breast cancer patients will be covered for the test.
GenomeWeb Daily News (free registration) (8/17) 
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Data show positive results for Endologix's endografts
Preliminary data from a 458-patient study showed Endologix's AFX and AFX2 endografts demonstrated an 84.7% rate of freedom from aneurysm-related complications, compared with 82% for other bifurcated aortic endografts. Further randomization in the study will be stopped by the company based on the number of additional participants needed for proving superiority, while five-year follow-up of current participants will be continued.
Seeking Alpha (free registration) (8/17) 
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Emerging Technologies
HeartSciences announces EU approval, launch of MyoVista hsECG
European regulators gave HeartSciences CE mark approval for its MyoVista high sensitivity electrocardiograph testing device, a technology that uses Continuous Wavelet Transform to measure cardiac energy per heartbeat. The device, which is a combination of traditional 12-lead resting ECG tracings, ECG interpretive analysis and informatics, has also been launched by the company in Europe.
MassDevice (Boston) (8/17) 
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Government & Regulatory
FDA clears Globus Medical's robotic guidance, navigation system
The FDA granted Globus Medical clearance to market its robotic guidance and navigation platform, Excelsius GPS, which is designed for use in traditional and minimally invasive orthopedic and neurosurgical procedures. The system facilitates accurate screw placement in spine and orthopedic surgery and can function with intraoperative CT, preoperative CT and fluoroscopic imaging modalities.
Becker's Spine Review (8/17) 
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