SI-Bone gained FDA clearance for its iFuse Implant System in November 2008 and a CE mark in November 2010. Now, it's brought in a new CFO and a $21 million cash infusion to help ramp up sales and, perhaps, to ready it for an IPO. The news comes after the startup revealed positive 6-month data and its surgical category gained a reimbursement code earlier this year.
Med techs are looking to revive public market interest. Several IPOs priced during the first few months of the year--but there's been a lull lately. Custom joint replacement maker ConforMIS is readying an IPO to raise up to $172.5 million, while gastrointestinal endoscopy player EndoChoice has set terms to raise $100 million. Also, Palo Alto, CA-based, breast tissue expansion company AirXpander is starting an IPO to raise A$36.5 million (US $28.3 million) on the Australian Securities Exchange.
Some of the Asia-Pacific region's major countries can expect continued increases in pharmaceutical expenditures during the third quarter, led, surprisingly, by Pakistan.
China Medical Systems Holding has licensed Greater China rights to develop and commercialize Finland's Faron Pharmaceuticals' Traumakine (FP-1201), a recombinant human interferon (IFN) beta-1a to treat severe and acute respiratory distress syndrome.
Neuwave Medical roped in $25 million in equity funding to support development of its soft tissue ablation system, ramping up operations as it expands the reach for its innovative surgical system.
A heavyweight consortium of Chinese biomedical- and healthcare-focused funds said it would acquire San Diego-based biotech Ambrx, which abandoned an initial public offering last year, in a deal that opens a path to cutting-edge candidates in oncology therapies.
Australia has singled out the pharmaceutical industry for special scrutiny in its examination of corporations moving money offshore to avoid local taxes.
Outside of surgery, physicians can do very little to treat severe rotator cuff tears. Israeli company OrthoSpace is aiming to offer a new treatment option. It's raised an $8 million venture round led by Healthpoint Capital that will finance a pivotal, U.S. trial for the company's biodegradable balloon system InSpace.
San Francisco startup Metabiota raked in $30 million in Series A funding to ramp up operations as it looks to increase its market reach for its disease outbreak prediction tools.
China's Sinocare reportedly has made a $1 billion bid for Germany-based Bayer's diabetes devices. As maker of blood-sugar monitors, Sinocare would be challenging a broader based company, Panasonic Healthcare, already months into discussions with the seller.