Some orphan drugs to treat rare diseases can cost as much as $400,000 a year. Those hefty price tags have sparked a lively debate in recent years about whether the American health care system can shoulder the burden of treating rare diseases over the long term.
Acton, MA-based Cognoptix, developer of an eye test for diagnosing Alzheimer's, announced that it has closed a Series D financing round worth more than $15 million. It was lead by new investor Alopexx and existing investor Inventages. Original investor Launchpad Venture Group also participated.
Investors were pleased that TransEnterix scored a few more quarters' worth of runway in a $25 million debt deal, sending shares up almost 7% in early trading. The minimally invasive surgical company expects to submit a 510(k) for its SurgiBot by year end.
As devicemakers cast an eye toward a lucrative sleep disorder market, Itamar Medical is joining the ranks and anticipating positive third-quarter results buoyed by recent sales agreements and commercialization efforts for its sleep monitoring devices.
Engaged Capital has stepped up its campaign to wring shareholder value from Volcano after a stock slide of more than 60% in the last year. The firm made a detailed case against the company in an open letter to the company on Sept. 29. Engaged Capital has been openly targeting the intravascular imaging and device player since it took a sizable position more than a year ago.
Investment group Blackstone has reportedly made a $100 million investment into Chinese orthopedic device company Xinrong Best Medical Instrument Co. This is the firm's first foray into a medical investment in China, but in March it did take private Chinese tech outsourcing company Pactera Technology.
U.S. Treasury Secretary Jack Lew hasn't scared Big Pharma away from tax inversion deals altogether. But his new rules limiting the benefits of pharma's latest M&A strategy are having some tangible effects already.
A pair of contracts went to medical device makers from the U.S. Department of Defense on Sept. 23.
A federal grand jury yesterday indicted James Mazzo--CEO of Santa Ana, CA-based Advanced Medical Optics from 2002 to 2009--on 13 counts of insider trading, 13 counts of tender offer fraud and one count of securities fraud, according to the U.S. Attorney's office.
Neogen reported a fiscal first-quarter gain in net income of 13% due largely to stronger sales in its food safety segment.