Apollo Endosurgery to sell common stock in underwritten public offering | ZipLine Medical gets $9M boost | $3.8M milestone payment secured by NeuroMetrix under GSK partnership
June 20, 2018
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Apollo Endosurgery to sell common stock in underwritten public offering
Apollo Endosurgery is launching an underwritten public offering of shares of its common stock, with a 45-day option for the underwriter to buy additional shares. The company has not yet announced the terms and size of the offering, which is subject to market conditions and Nasdaq approval.
StreetInsider (6/19),  Seeking Alpha (6/19) 
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Business & Market Trends
ZipLine Medical gets $9M boost
A round of financing has pulled in $9 million for Campbell, Calif.-based ZipLine Medical. The proceeds will be used to support commercialization of the company's Zip surgical skin closure portfolio and to launch its ZipStitch and PreLoc products.
MassDevice (Boston) (6/19) 
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$3.8M milestone payment secured by NeuroMetrix under GSK partnership
NeuroMetrix has obtained a milestone payment worth $3.8 million from GlaxoSmithKline Consumer Healthcare after it met the first development milestone under their strategic partnership, through which exclusive ownership of its Quell technology for non-US markets was acquired by GSK. The partnership included a $5 million upfront payment and up to $21.5 million in potential milestone payments from GSK.
Seeking Alpha (6/19),  StreetInsider (6/19) 
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Micrima stretches funding round to about $14M
A round of equity financing has brought in about $5.8 million for UK-based breast imaging company Micrima, bringing the total proceeds to approximately $14 million. The money will be used for team expansion, further development of the CE-marked MARIA radio wave breast imaging system and advancement of the product to full commercial launch this year.
FinSMEs (6/19) 
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New chief financial officer named by Stimwave
Steven Amelio, former chief financial officer for Paradigm Spine, has been tapped to serve as chief financial officer at Stimwave. Amelio has 30 years of medical device industry experience.
Becker's Spine Review (6/19) 
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In Focus with MedCity News
US patent to be issued to ReShape Lifesciences for Gastric Vest System
ReShape Lifesciences has been notified by the US Patent and Trademark Office that it will receive a patent for its Gastric Vest System, a device designed to promote weight loss in patients with obesity.
Seeking Alpha (6/19) 
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Emerging Technologies
Nutrino to integrate nutrition platform into Medtronic's CGM app
Medtronic and Nutrino have partnered to integrate the latter's AI-powered nutrition program, FoodPrint Report technology, into Medtronic's iPro2 myLog continuous glucose monitoring app to provide insights into users' diet, their reactions to various foods, and the link between meals and glucose variability. The groups may extend the collaboration to incorporate data and insights from Nutrino's platform into all of Medtronic's Diabetes Group businesses.
MobiHealthNews (6/19) 
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System for outpatient total hip replacement debuted by OrthoGrid
The HipGrid Nine fit attachment system has been launched by OrthoGrid Systems for use in outpatient total hip replacement surgeries. The patent-protected system, intended to be integrated with C-arm systems, can be controlled intraoperatively by surgeons and can fully function with any implant system.
Medical Devices Business Review (U.K.) (6/19) 
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Government & Regulatory
FDA clears 2 blood screening assays from Grifols
The FDA has granted Grifols clearance for the Procleix Ultrio Elite, a test designed to screen for hepatitis B, hepatitis C and HIV-1 viruses and detect HIV-2, and the Procleix WNV, a test intended for screening plasma and serum donations for West Nile virus. Both assays run on the company's Procleix Panther nucleic acid test blood screening platform, a fully automated sample-to-result instrument that can make batch processing unnecessary.
GenomeWeb Daily News (free registration) (6/19) 
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FDA clears Bay Labs' automated echocardiography analysis software
Bay Labs' EchoMD AutoEF automated echocardiography analysis software has been granted 510(k) clearance by the FDA for use in automated clip selection and left ventricular ejection fraction calculation. The software automatically reviews relevant digital video clips of cardiac cycles from the echocardiography study of a patient, assesses image quality and chooses the best clips for EF calculation.
AuntMinnie (free registration) (6/19) 
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AdvaMed Events and Education
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From products to consumers to regulation and new media -- we're gathering industry practitioners to take a deep dive on the opportunities and challenges of product advertising. This annual conference will teach you how to communicate your value without overstepping legal and regulatory boundaries. FDA staff, medical technology company leaders, legal experts and public affairs professionals will lead discussions. Learn more.
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The AdvaMed Purchasing Group is a new member-only benefit that helps companies purchase the very best goods and services from nationally recognized suppliers at the very best cost, using a trusted and proven vetting system and the collective purchasing power of our membership. Participation is free for AdvaMed members, and there are no minimum commitments. Get started today.
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