Medtronic's restructuring frees up about $9.3B in assets | Financing round pulls in $6.2M for Neuromod | EOS imaging to exclusively market scoliosis prognosis device
September 30, 2015
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Medtronic's restructuring frees up about $9.3B in assets
Medtronic will make $9.3 billion available for general company spending after undergoing an internal restructuring that prompted a one-time charge of $500 million in US taxes. "The restructuring provides Medtronic with additional financial flexibility and increased confidence in the company’s ability to meet its financial commitments," according to a filing with the Securities and Exchange Commission. Star Tribune (Minneapolis-St. Paul, Minn.) (9/28), (Boston) (9/29)
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Financing round pulls in $6.2M for Neuromod
A Series A funding round has brought in $6.2 million for Neuromod. The Dublin-based firm will use the proceeds to advance its mutebutton neuromodulation technology for chronic tinnitus patients. (Boston) (9/29), The Irish Times (Dublin) (9/29)
EOS imaging to exclusively market scoliosis prognosis device
A deal has been struck by EOS imaging allowing it to exclusively market a device designed for the prognosis of scoliosis in adolescent patients. The device provides full-body, stereo-radiographic images in 2D and 3D to predict if mild scoliosis patients will later develop a severe deformity. (9/29)
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DARPA extends support for development of sepsis device
The Defense Advanced Research Projects Agency has extended its contract with Aethlon Medical to create a device that would cut the rate of sepsis. The company said the fixed-price contract, which requires the fulfillment of incremental milestones, is already in its fifth year. San Diego Business Journal (9/29), (Boston) (9/29)
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Science & Health
ISO 13485 final draft faces vote
A working group has finalized revisions to ISO 13485, the international quality systems standard that is widely used in medical device manufacturing, but the 37 member countries that are part of the International Organization for Standardization working group must approve the draft. Revisions to the 2003 standard include managing risk-based decisions in design, development, manufacturing, production control, purchasing and other parts of quality management systems. If the working group approves the revisions, they will likely be published in March, and regulated entities will have three years to comply. Clinica (9/29)
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NeuroMetrix app boosts pain management in Quell device users
An Android application that can be used with the Quell wearable pain relief device was designed by NeuroMetrix. The app allows Quell users to track their sleep and the treatment they are receiving. Clinical trial data showed the app helped improve pain management and cut pain medications use in more than 80% of participants. (9/29)
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Emerging Technologies
Endoscopic mucosal resection device from Boston Scientific debuts
The Captivator, a device developed for upper gastrointestinal endoscopic mucosal resection, has been launched by Boston Scientific. The product, intended as an alternative to esophagectomy, is now available in Puerto Rico, Australia, Singapore, Europe and the US. FDAnews (9/30)
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Intranasal splint from Smith & Nephew debuts
The Nasastent, a dissolvable intranasal splint, has been launched by Smith & Nephew. The product, made up of plant-based caboxymethyl cellulose, is intended to prevent post-op adhesions and reduce bleeding after sinus procedures. (Boston) (9/29)
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Government & Regulatory
EU OKs coronary stent from Stentys
The Self-Apposing coronary stent, developed by Stentys for below-the-knee arteries, has obtained CE mark approval from European regulators. CEO Gonzague Issenmann said Stentys will start marketing the product next year. FDAnews (9/30)
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Ventricle closure device from Occlutech gets CE mark
A device developed by Occlutech for the closure of ventricle septal defects has obtained CE mark approval in Europe. The structural heart disease implant maker said the product, which is made up of flexible nitinol wire mesh, will be available in various sizes and configurations. (Boston) (9/29)
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Dec. 1 | Washington, D.C.
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