Intrinsic Therapeutics is aiming at more effective surgical treatment of lumbar disc herniation and is in the process of raising almost $21 million in venture capital, according to a Sept. 17 SEC filing.
Bayer's drug business is booming. So much so that the German company has decided to put its focus squarely on its life sciences division: It plans to spin off its plastics unit within 18 months, taking a lead from its Big Pharma peers with the industry's latest slim-down move.
Minnesota Representative Erik Paulsen is taking another swing at the medical device excise tax implemented with the Affordable Care Act. Repealing the 2.3% tax is being brought back up in the House of Representatives.
MannKind has been starved for cash, so it was huge for the California-based pharma to strike a deal with Big Pharma player Sanofi to help market its inhaled insulin Afrezza. But Sanofi has something else that can cut their costs and fatten up their bottom lines. It has insulin.
Avinger has raised $35 million toward its ongoing U.S. pivotal trial of a lumivascular catheter that combines intravascular imaging with arterial plaque removal. The total target for this financing is $49 million and 65 undisclosed investors have participated thus far, according to an SEC filing.
Corindus Vascular Robotics has raised $26.6 million in a private placement to help it market its FDA approved CorPath Vascular Robotic System. This is the first FDA-approved device to apply robotics to coronary angioplasties; the agency cleared it in 2012 to be used in percutaneous coronary interventions (PCI).
Former Alere executives are putting together a $46-per-share takeover offer for the diagnostics company, according to a Sept. 15 SEC filing. Investors didn't embrace the offer entirely, but they did send shares up about 13% to $41.33 in midafternoon trading.
Even drugmakers with steamrolling pharma units need to cut costs sometimes, and Johnson & Johnson fits that bill. To do so, the company will shrink the pension benefits offered to those who are hired--or rehired--after January 1.
ReWalk Robotics, which offers the first robotic exoskeleton for spinal cord injury patients to be cleared by FDA, raised $36 million in an IPO. It didn't wow investors too much--pricing below the anticipated range. Meanwhile, another medical device company stepped into the IPO queue; proton radiation therapy company Mevion Medical Systems filed to raise up to $69 million.
How's this for a business plan? Buy an old drug for a rare condition. Raise its price by 20 times. Prepare to reap the sales. What could be wrong with that?