1. 1-18 of 18
    1. 3-D St. Jude Medical launches technology that gives docs real-time, 360-degree

      3-D St. Jude Medical launches technology that gives docs real-time, 360-degree

      St. Jude Medical (STJ) announced FDA approval of its ILUMIEN OPTIS PCI Optimization System , and the product’s U.S. launch. The device gives physicians a real-time, 360-degree panoramic view of the arteries, to help with stent placement and to guide treatment for patients with coronary artery disease. But what’s the true value proposition between this new iteration and the last? Perhaps potential for reduced hospital readmissions. In the company’s FAME 2 study, “hospital readmission because of an urgent revascularization (was) reduced by 86 percent” when the company’s PressureWire technology was used, according to a company statement .

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    2. With IP from Mass Gen & funding from Third Rock, NinePoint will try to carve a niche in in-vivo imaging

      With IP from Mass Gen & funding from Third Rock, NinePoint will try to carve a niche in in-vivo imaging

      When NinePoint Medical Inc. got its first seed funding from Third Rock Ventures and Prospect Venture Partners back in 2009, it didn’t have a prototype or a design, or even a product. What it did have was an idea — to create a medical device that would bring together access, diagnosis and treatment — and a CEO, former Boston Scientific chief medical officer Dr. Charles Carignan. Three-and-a-half years later, the Cambridge-based company has some high expectations to meet. In addition to being the first medical device company that TRV launched and the recipient of a $33 million investment round , it was ...

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    3. St. Jude estimates $60M device tax bill; CEO says tax will increase industry consolidation

      St. Jude estimates $60M device tax bill; CEO says tax will increase industry consolidation

      St. Jude Medical (NYSE:STJ) CEO Dan Starks told analysts Wednesday that the company estimates it will pay about $60 million as a result of the medical device tax in 2013, and described it as a tax that will have an unintended negative impact on the medical device industry. In a call discussing results of the company’s earnings in the second quarter ended June 30, Starks said that he wouldn’t be surprised to see an uptick in consolidation of the medical device industry in 2013 and one factor contributing to that is the 2.3 percent excise tax ...

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    4. Ohio’s investor tax credit: Who’s using it (and who isn’t)

      Ohio’s investor tax credit: Who’s using it (and who isn’t)
      People love talking about the value of getting investor tax credits. Companies seem to love applying for tax credits. Using the investor tax credit? That’s different. A total of 590 companies have been approved for Ohio’s Technology Investment Tax Credit, a program in which investors who put money in approved companies are eligible for a tax [.
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      Mentions: Imalux
    5. Advanced imaging startup Diagnostic Photonics raises $1.3M investment

      Advanced imaging startup Diagnostic Photonics raises $1.3M investment
      A surgical imaging spinoff from the University of Illinois has raised $1.3 million in equity, according to a regulatory filing. Chicago-based Diagnostic Photonics sourced the funding from seven investors, likely including IllinoisVentures, a seed and early stage investment firm launched by the University of Illinois. CEO Andrew Cittadine didn’t return a call. Advertisement The company says its imaging technology is designed to help doctors evaluate diseased tissue during surgery by visualizing tissue “at the microscopic level.” Diagnostic Photonics calls its core technology “interferometric synthetic aperture microscopy,” which uses reflected light and a “novel method” of image reconstruction to ...
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    6. Cancer detection company Oncoscope closes on $2M fundraise

      Cancer detection company Oncoscope closes on $2M fundraise
      Cancer-detection medical device company Oncoscope has closed on $2 million in financing, according to securities filings. Durham, North Carolina-based Oncoscope is developing an optical imaging system that can be used for early detection of cancers in the esophagus, colon, lungs, cervix and bladder. Advertisement Oncoscope is currently conducting a clinical trial sponsored by an SBIR grant from the National Institutes of Health. One of the clinical sites in the multi-center study is the Center for Esophageal Diseases & Swallowing at the University of North Carolina at Chapel Hill. Oncoscope is studying its system as a way to detect Barrett’s esophagus ...
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    7. Advanced imaging firm Imalux hires ex-Philips executive as COO

      Advanced imaging firm Imalux hires ex-Philips executive as COO
      Advanced medical imaging company Imalux has hired a former executive with Philips Healthcare for its newly created position of chief operating officer. James Fulton has joined the Cleveland-based provider of advanced medical imaging systems and will hold the title of president in addition to COO, according to a statement from the company. Fulton is a 30-year healthcare veteran, most recently holding the title of general manager of Philips’s computer tomography business unit. Imalux’s Niris Imaging System uses near-infrared light to produce high-resolution images of tissues in the body through a process called optical coherence tomography (OCT). The resolution ...
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    8. Optical imaging startup Oncoscope raises $900K in $2M round

      Optical imaging startup Oncoscope raises $900K in $2M round
      Medical device firm Oncoscope, which is developing an optical imaging system with applications in cancer, is closing in on $1 million in its latest fundraising offering, according to securities filings. Durham, North Carolina-based Oncoscope has raised $890,737 in an amended offering now targeting $2 million, according to the company’s latest filing. In April, Oncoscope had raised $624,902 in the round, which at the time was targeting a $1 million raise. Last year, the company raised $1.2 million. Advertisement Oncoscope’s optical imaging technology was originally developed at Duke University. The initial Duke research was supported by ...
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    9. N.C. medical device firm Bioptigen finds partners for new eye device

      N.C. medical device firm Bioptigen finds partners for new eye device
      Medical device company Bioptigen is developing its medical imaging technology into a new device for eye surgeries and the North Carolina firm has found two partners to join the effort. Bioptigen will combine its imaging technology with research from Irvine, California-based Adventus Technology and The Brien Holden Vision Institute, an Australian nonprofit group that works in eye care research.
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    10. Ohio ranks 10th in nation in NIH research funding

      Ohio ranks 10th in nation in NIH research funding
      Ohio ranked 10th among U.S. states in attracting research funding from the National Institutes of Health last year. Ohio pulled in $778 million last year, up slightly from $769 million in 2009. The figures include funding awarded directly by the NIH, plus dollars specified in 2009′s federal American Recovery and Reinvestment Act, better known as the “stimulus.” (Credit and thanks go to BioOhio, the state’s biomedical trade group, for wading through and aggregating the data.) The figures are often adjusted during the course of the following year, so the final 2010 amount could grow slightly, BioOhio said ...
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    11. Life science firms not delivering enough jobs for tax breaks in Massachusetts

      Life science firms not delivering enough jobs for tax breaks in Massachusetts
      The Mass. Life Sciences Center reveals that half of the 28 companies that received tax incentives last year in exchange for promises of job creation failed to reach the staffing numbers stipulated by the deals. The Mass. Life Sciences Center doled out $24.5 million worth of tax incentives to 28 life science companies in the Bay State, aiming to foster the creation of 918 new jobs, but half of the firms failed to create the jobs they promised
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    12. A new (deputy) sheriff in town: St. Jude Medical struts its stuff

      A new (deputy) sheriff in town: St. Jude Medical struts its stuff
      Earnings reports are good ways to measure a company’s financial performance. What they’re less useful for is gauging a company’s confidence. You know… Mojo. Swagger. Groove. And here’s what I see: Medtronic Inc. (NYSE:MDT) always had it. Boston Scientific Corp. (NYSE:BSX) has lost it. And St. Jude Medical Inc. (NYSE: STJ) is feeling it. Minnesota has traditionally been home to the Big Three of medical devices. That hasn’t changed, but I’d argue St. Jude, based in Little Canada, has supplanted Boston Scientific for that No. 2 position behind Medtronic, based in Fridley ...
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    13. iPad, iPhone app to teach St. Jude docs about intravascular OCT

      iPad, iPhone app to teach St. Jude docs about intravascular OCT
      A small online healthcare education company in Ohio is building a “highly interactive simulation” to teach doctors and radiologists at St. Jude Medical Inc. (NYSE: STJ) about optical coherence tomography (OCT). MultiWeb Communications in Rocky River just landed the job from the medical device giant in Little Canada, Minnesota, according to MultiWeb founder Karl Wilkens. St. Jude spokeswoman Kate Stoltenberg confirmed the MultiWeb project but said she could provide few details because the project is so new.
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    14. St. Jude Medical CEO: second quarter was “absolutely awesome”

      St. Jude Medical CEO: second quarter was “absolutely awesome”
      Normally, you wouldn’t expect the CEO of a major medical device company to employ the phrase “absolutely awesome” during a conference call with Wall Street analysts. But then again, you really can’t blame St. Jude Medical Inc. (NYSE: STJ) CEO Dan Starks for showing a little enthusiasm. Starks was specifically referring to the initial sales of the company’s newest initial cardioverter defibrillators (ICDs) but he might as well been describing STJ’s second quarter performance. In short, STJ kicked major butt, especially in its core ICD and pacemaker business. The company said second quarter profits soared nearly ...
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    15. Philips Healthcare R&D center will showcase imaging technologies

      Philips Healthcare R&D center will showcase imaging technologies
      The Philips Healthcare Global Advanced Imaging Innovation Center could bolster Northeast Ohio’s reputation as a hub for innovation in medical imaging technology. The $38.4 million partnership of Philips, University Hospitals and Case Western Reserve University — supported by a $5 million Ohio Third Frontier grant — was announced last week. Philips, which is supplying $33.4 million of that, is considering investing a similar amount in a second phase of the center.
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    16. Imalux adds $250k Medical Growth Fund to $6.7M fund raise - Adding to more than $17 million from investors since 1996

      Imalux adds $250k Medical Growth Fund to $6.7M fund raise - Adding to more than $17 million from investors since 1996
      Imalux Corp. has added $250,000 to its Series C fund-raise begun in 2007 to launch the second generation of its novel medical imaging technology. Medical Growth Fund — an emerging angel investor group supported by Northeast Ohio bioscience company developer BioEnterprise — provided the additional investment. So far, Imalux has raised $6.7 million of the $7 million for which it had hoped during the round, said Tom Barnish, the company’s chief financial officer. The new money is “helping us complete the engineering on our next-generation Niris,” Barnish said. The Niris Imaging System uses near-infrared light to produce high-resolution images ...
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    17. Lumen Biomedical sells core product to Volcano to generate much needed cash

      PLYMOUTH, Minnesota– Lumen Biomedical Inc. has sold one of its two clot removing devices to boost its balance sheet as the company struggles to stay afloat in a tough economy. Volcano Corporation, a San Diego-based medical device manufacturer, purchased Lumen’s Xtract catheter for an undisclosed sum. The company had been Xtract’s exclusive global distributor since May 2009. In an interview, Lumen CEO Steven Healy said the company wanted to move out of manufacturing and focus on product development. “We saw [the Volcano deal] as a way in a tough financial market to raise much needed funds,” Healy said ...
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    18. Imalux Corp. hires new president, CEO: Michael Burke

      Imalux Corp. hires new president, CEO: Michael Burke
      CLEVELAND, Ohio — Medical imaging technology company Imalux Corp. has named a new president and chief executive: Michael Burke. Burke, a veteran health care industry entrepreneur, left TREK Diagnostic Systems in Independence, Ohio, as its founding chief executive in November after selling the company to Magellan Biosciences in late 2006. “We are very pleased to have Mike assume the leadership role at Imalux,” said Bill Sanford, the company’s chairman, in a written statement. “He has a track record of success in all phases of commercialization of medical technologies on a worldwide basis.”
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    1-18 of 18
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