InnFocus has nabbed a pair of strategic ophthalmic investors in its Series C financing for $32.8 million. The cash infusion will go to the final phase of clinical testing for the startup's MicroShunt, which is expected to be a minimally invasive alternative to surgery for primary open angle glaucoma.
Recent med tech IPO candidate Intersect ENT has reported the results of three studies for its chronic sinusitis implants at the American Rhinologic Society meeting in Dallas, TX. The company designed all three studies for physician office use--which is expected to broaden the potential market for these kinds of procedures.
Breast implant company Sientra saw its valuation cut in half on news that its contract manufacturer Silimed has had its CE mark suspended by the U.K. Department of Health. The move came after German regulators conducted an inspection of a Brazilian manufacturing plant--and regulators found that "the surfaces of some implants were contaminated with particles."
St. Jude Medical has received a CE mark for its latest neuromodulation technology--the Infinity Deep Brain Stimulation System to treat movement disorders. It expects to get sign-off from the FDA and to launch the system in the U.S. before year's end. The franchise is the latest addition to St. Jude's neuromodulation business, which last quarter grew faster than the company's other groups in cardiac rhythm management, atrial fibrillation and cardiovascular.
Startup Establishment Labs has won more than $20 million in financing from private equity firms Crown Predator Holdings and JW Asset Management to market a next-gen breast implant that's supposed to be safer and more easily tracked.
Tiny public company Amedica has managed to restructure its finances, including raising $15 million in capital from undisclosed institutional investors. That's an impressive feat for a micro-cap with a market cap of less than $30 million that has yet to become profitable.
Allergan will buy another ophthalmic device startup, just after its deal for dry-eye player Oculeve closed last month. This time around, it said it would purchase glaucoma microstent company AqueSys for $300 million upfront plus undisclosed approval and sales milestones.
ConforMIS had one of the most staggeringly successful med tech IPOs this summer. Its July IPO raised more than $155 million at a $15 share price. The custom 3-D printed orthopedic implant company saw its share price climb as high as almost $27--but all that ground has been lost on this week's news of a voluntary recall by the company.
Abbott announced that its bioresorbable scaffold performed similarly to its traditional drug-eluting stent in a clinical trial for Japanese approval. The device is the market leader by far, and is already available in more than 90 countries, though not the U.S.
St. Jude Medical's leadless pacemaker fared well in its investigational U.S. trial, as the company seeks to secure FDA approval for the device and overcome a safety scare that marred its European launch.