An initial public offering of more than 17.2 million shares on the Swedish stock exchange, Nasdaq Stockholm, has brought in $57.4 million for Sweden-based Bonesupport. The company will use the proceeds to support sales expansion for its drug-eluting bone scaffolds that use the Cerament technology platform.
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A private placement has brought in approximately $4.9 million for Oventus Medical, an Australian company that makes oral devices for treating snoring and obstructive sleep apnea. The company, which is still seeking to obtain about $379,000 in a second tranche placement, intends to use the proceeds for boosting working capital, as well as to support co-marketing partnerships in the US and Australia.
An offering of 8.9 million units of common stock, warrants and stock purchase warrants has pulled in $2.1 million in net proceeds for Great Basin Scientific. The money will be used for redemption of certain notes, research and development, and sales and marketing expenses, as well as to support general corporate functions.
A Zion Market Research report predicts the worldwide minimally invasive surgery market will see growth through 2024 because of an expanding aging population and the launch of narrow-band imaging endoscopes, confocal microendoscopes, HD endoscope cameras and other advanced technologies. Among the key market players are Varian Medical Systems, Medtronic, Zimmer Biomet, Teleflex, Stryker, NuVasive and Surgical Innovations.
The US Patent and Trademark Office has issued a new patent for Zyga Technologies' SImmetry Decorticator, an instrument that creates bleeding bone and space for autologous bone graft in preparation for sacroiliac joint fusion. The patent covers the design of the instrument.
Japanese regulators have given Exactech approval for its shoulder, knee and hip replacement systems, including the Novation crown cup acetabular component, Optetrak Logic CR knee system, Alteon tapered wedge stem and Equinoxe reverse shoulder systems. The company has also recorded the first clinical use of the devices in the country.
The Distal Radius Sterile Kit has been launched by DePuy Synthes for use in surgical treatment of wrist fractures. The presterilized, single-use kit of instruments and implants is intended for eliminating over 60% of the steps taken to process reusable kits.
Senate Republicans released the Better Care Reconciliation Act, a bill aimed at repealing provisions of the Affordable Care Act, including the medical device tax. A Congressional Budget Office analysis of the bill may be released as soon as Monday, and the Senate plans to vote on it soon after that.
The FDA has given Implanet clearance to market the improved version of its JAZZ braid, part of which is now ultrasonically bonded. The redesigned braid, which will continue to be integrated with the company's JAZZ tensioning system, has also been granted clearance by European regulators.
The FDA has granted Anaheim, Calif.-based ClearFlow 510(k) clearance for its FlowGlide active clearance technology system, a device intended for preventing retained blood syndrome by reducing or preventing occlusion of chest drains with clots.
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