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Verily launches Liftware smart utensils

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VerilyVerily Life Sciences, the healthcare play owned by Google parent Alphabet (NSDQ:GOOGL), said this week it launched the Liftware Level smart utensil designed to aid individuals with limited hand or arm mobility.

The Liftware Level is designed to help individuals who have hand and arm mobility issues, including those with cerebral palsy, spinal cord injuries, Huntington’s disease or post-stroke deficits.

The device operates by constantly monitoring the position of the hand, based on the handle, and intelligently adjusting the angle of the utensil, either a spoon or fork, so the user can eat without the contents spilling or falling off.

“One of the greatest pleasures in life is being able to enjoy a meal with friends and family—an activity that some may take for granted. Liftware Level is a utensil designed to specifically address mealtime struggles facing individuals with limited mobility or range of motion. Designed and developed with significant input from physicians and potential users, we hope this new device will turn the everyday task of eating into a more pleasurable experience for more people living with movement disorders,” liftware creator & Verily tech lead Anupam Pathak said in a press release.

The Level utensil is the 2nd product in the Liftware family, Verily said, joining the Liftware Steady. The Steady is a computerized stabilizing handle with similar utensil attachments designed to counteract the effects of hand tremors, the company said.

With the launch, the Huntington’s Disease Society of America is beginning a donation program to give 1,000 Liftware Level starter kits to individuals in need on a 1st come, 1st serve basis.

“For the estimated 30,000 Americans affected by Huntington’s disease, loss of independence to perform simple daily tasks is devastating. We believe that the new Liftware Level device will help many more people be empowered to improve their quality of life and truly enjoy mealtime again,” Huntington’s Disease Society of America prez Louise Vetter said in a prepared statement.

 

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Augmedix announces partnership with Aryaka

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AugmedixMedical Google Glass startup Augmedix said recently it partnered with Aryaka to use its global SD-WAN technologies to provide reliable and fast network connectivity for its smartglass platform.

Augmedix touted Aryaka’s system, saying it is built on a global private network that bypasses the public internet to improve stability and application performance.

“A reliable and fast global connectivity platform is key for the effective implementation of Augmedix’s revolutionary technology. Doctors spend a significant amount of their time on EHR documentation. Aryaka helps Augmedix take away the burden of documentation from doctors by enabling the task to be outsourced to scribes around the world. Our mission is to re-humanize health care and revolutionize the doctor-patient engagement using wearable technology/IoT. We now experience significantly improved application performance, low and stable latencies over the network, and better quality of service,” Augmedix VP Venkat Kankipati said in prepared remarks.

“We are excited to support Augmedix in their efforts of harnessing IoT to revolutionize patient care in the United States. Rapid transfer of IoT data in real-time between distant global locations requires a fast and stable connectivity medium. Not only does Aryaka’s global SD-WAN deliver fast and predictable application performance, stable latencies, and low packet loss, but it can be deployed within days, unlike MPLS which can take months, and thus, support the agility needs of rapidly growing companies like Augmedix,” Aryaka founder & CTO Ashwath Nagaraj said in a press release.

In April, Augmedix said it closed a $17 million strategic round of funding with investments from 5 healthcare systems across the U.S. to support its Google Glass-powered service.

The company aims to help physicians to spend more time with patients and less time “feeding the beast” that is the electronic health record system, claiming the experience will help “rehumanize” the physician experience.

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How the 21st Century Cures Act will affect medical devices

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How the 21st Century Cures Act will affect medical devicesThe U.S. Senate overwhelmingly passed the 21st Century Cures Act yesterday, after the U.S. House voted to enact the healthcare measure last week. The bill will move to President Barack Obama’s desk and he is expected to sign it into law soon.

The sweeping healthcare legislation has a number of provisions that are intended to improve the regulatory process for medical devices, such as the requirement that the FDA establish a Breakthrough Devices program to provide priority review for devices that yield “more effective treatment or diagnosis of life threatening or irreversibly debilitating human disease or conditions”.

The Breakthrough Devices program aims to help bring technology to the market for conditions with no cleared or approved alternatives. This provision will build upon the FDA’s Expedited Access Pathway, adding priority review to device types subject to 510(k) clearance, as well as PMA approval and de novo requests.

The FDA’s Humanitarian Device Exemption program, which allows approval for devices that address rare diseases, will be expanded. The revised program will double the ceiling, allowing approval of devices for diseases or conditions that affect up to 8,000 people annually.

The bill will allow any party to obtain a ruling from the FDA within 60 days on recognition of a standard. The FDA must make the ruling public and FDA employees must undergo periodic training in the use of standards in premarket review, according to the provision.

In an effort to clarify which device types require 510(k) clearance, the FDA will be required, early next year and then once every 5 years, to review class I and class II devices and consider whether they may be declared 510(k) exempt. After determining which devices are exempt, the FDA will publish a list of newly exempted device types. Class II exemptions will include a proposed list and a period of time for public comment before the final list is published.

Classification panels are also being affected by the bill, which includes a provision that requires the FDA to ensure that every panel has “adequate expertise” to assess the disease which the device is intended to cure, treat, mitigate, prevent or diagnose, as well as the device’s technology. The company will have a chance to recommend what sort of expertise the voting members of the classification panel will need.

The FDA will have an yearly opportunity for patients, patient representatives, and sponsors of medical device submissions to give recommendations for individuals with clinically relevant expertise to fill the voting member positions.

In multicenter device trialS, Institutional Review Boards were previously required by the FDA to be at every center. Instead, a provision in the 21st Century Cures Act allows for 1 IRB to oversee the trial, adding flexibility and hopefully making oversight more efficient.

One provision gives the FDA a year-long deadline to revise the organization’s 2008 guidance on Clinical Laboratory Improvement Amendment waivers for in vitro diagnostic devices. The section calls for the FDA to replace the requirement to demonstrate accuracy based upon a gold standard, making it easier for some IVD tests to be exempted from CLIA requirements like routine inspections.

The medical device industry has long held the position that the Center for Devices and Radiological Health does not comply with the requirement to determine the “least burdensome means” of establishing substantial equivalence or effectiveness of a device. One of the bill’s provisions will require each reviewer at the CDRH to receive training “regarding the meaning and implementation of the least burdensome requirements.”

The FDA will also assess implementation of the least burdensome requirements to ensure that they are applied. The section also says that if the FDA requests additional information from a PMA applicant, the organization “shall consider the least burdensome appropriate means necessary to demonstrate a reasonable assurance of device safety and effectiveness.”

Recent issues with disease transmission between patients because of inadequate cleaning of duodenoscopes led to a provision which says that the FDA has 180 days following the enactment of the 21st Century Cures Act to publish a list of reusable device types where 510(k) submissions need to include valid instructions for use and data for cleaning, disinfection and sterilization. The same provision includes a requirement for the FDA to finalize the draft from August, providing guidance on when a new 510(k) is required for modifications to a previously cleared device.

Finally, the bill has a provision that clarifies the FDA’s role in regulating medical software. The FDA has regulated image analysis software and IVD technology and will continue doing so once the 21st Century Cures Act is signed into law. But, under this provision, the FDA will not regulate software that uses “big data” to provide clinical decision support to healthcare professionals. The section has a few exceptions for software that collects patient information and data if it “would be reasonably likely to have serious adverse health consequences.”

The same section also says that the FDA will regulate accessories based on their intended use, instead of based upon the parent device with which the accessories are intended to be used. This position is a 180 for the organization, which as historically maintained that accessories should take on the classification of their parent devices.

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Gordian Surgical wins FDA clearance, raises $2m for TroClose1200

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Trendline Medical's Gordian SurgicalTrendlines Medical portfolio company Gordian Surgical said this week it won FDA clearance for its TroClose 1200, along with announcing the closure of a $2.3 million funding round.

The Israel-based company’s TroClose 1200 trocar is designed to enable access to the abdomen during laparoscopic surgery, as well as closing the access through suturing incisions in the abdominal wall.

The device is used to open the abdomen and insert surgical tools to start a procedure, and is equipped with an integrated closure system to allow for closing incisions, the company said.

The round was led by B. Braun and joined by current shareholders and 3 venture capital funds, including 2 Chinese funds, Gordian Surgical said.

“Receiving FDA clearance is a huge milestone in Gordian’s strategic roadmap. The recent investment, led by B. Braun, allows us to move rapidly towards commercialization of our device in the USA, Europe and other markets. Major interest in TroClose was evidenced at the recent MEDICA 2016,” Gordian Surgical CEO Zvi Pe’er said in a prepared statement.

The company said it won CE Mark certification in the European Union in September, and has performed 7 cases in a post-market surveillance study so far.

“Gordian’s TroClose is a very effective system, easy to use and especially useful for younger surgeons, as the learning curve is very short. TroClose has significant advantages over other gold standard closure devices on the market. Indeed, there is definitely a place for this product in the market,”  Michel Vix of France’s University Hospital of Strasbourg said in prepared remarks.

Our decision to lead this investment in Gordian Surgical, a Trendlines’ portfolio company, was based on the unique design of the TroClose1200 and the great potential we see in the global laparoscopic market for a closure/trocar integrated device. We expect the TroClose1200 to save time for surgeons and reduce anesthesia time for patients. FDA clearance, received so shortly following receipt of CE Mark, confirms our confidence in Gordian Surgical’s management,” B. Braun Aesculap division CEO Dr. Hanns-Peter Knaebel said in a press release.

In May, the company launched 1st-in-human trials with its TroClose 1200.

Last October, Gordian Surgical said it raised nearly $1 million in a new round of funding joined by Chinese venture capital firm Virtus Inspire Ventures. The company did not say who led the round, but said it was joined by a number of leading U.S. laparoscopic surgeons and other investors.

The post Gordian Surgical wins FDA clearance, raises $2m for TroClose1200 appeared first on MassDevice.

21st Century Cures Act: Impacts on the US medical device market

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Emergo GroupBy Stewart Eisenhart, Emergo Group

As legislation targeting a broad swath of US healthcare regulations awaits President Barack Obama’s signature after passage in the US Congress, effects of the pending law on registration and oversight of medical devices in the country will be significant.

Get the full story here at the Emergo Group’s blog.

The opinions expressed in this blog post are the author’s only and do not necessarily reflect those of MassDevice.com or its employees.

The post 21st Century Cures Act: Impacts on the US medical device market appeared first on MassDevice.

Zimmer Biomet, U.S. Justice Dept. near deal on bribery charges

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Zimmer BiometThe U.S. Justice Dept. and Zimmer Biomet (NYSE:ZBH) are close to reaching a deal to settle bribery allegations against the orthopedic device giant, according to federal prosecutors.

The DoJ alleged that Biomet and its subsidiaries paid out more than $1.5 million in illegal kickbacks to employees of state-owned health services in Brazil and China. Biomet paid $22 million in March 2012 to settle the case with the Justice Dept. and the U.S. Securities & Exchange Commission, agreeing to a deferred prosecution agreement to guard against further misconduct (Zimmer and Biomet closed their $14 billion merger in June 2015).

But in July 2014, an SEC subpoena prompted Biomet to reveal other alleged improprieties at its operations in Brazil and Mexico, prompting an extension to the DPA and a new federal probe beyond the term of the agreement.

Prosecutors yesterday said they are close to reaching a deal to settle the charges in a filing with the U.S. District Court for the District of Columbia.

“The parties have made substantial progress in those discussions and expect to resolve this matter within approximately four weeks,” DoJ fraud chief Andrew Weissman wrote in the filing.

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Sirtex slides on lowered profit outlook

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SirtexSirtex Medical (ASX:SRX) shares closed down more than -37% today after the Australian medical device company lowered its profit outlook for the rest of the year.

Sydney-based Sirtex said it expects earnings before interest, taxes, depreciation and amortization to be down -12% on a constant-currency basis compared with fiscal 2016 for the year ending June 30, 2017. The company pegged the expected shortfall to lower-than-forecast dose sales in the Americas and EMEA regions for its SIR-Sphere microspheres, which are used to treat liver cancer.

Dose sales growth during the 1st half of the year was 4% to 6%, compared with 15.7% during H1 2016, pointing to EBITDA declines of -16% to -9% or A$30 million to A$32 million ($22.4 million to $23.9 million). Full-year dose sales growth is pegged at 5% to 11%, compared with 16.4% during fiscal 2016, auguring for EBIDTA of A$65 million to A$74 million ($48.5 million to $55.2 million), which would be down -12% to flat compared with the last fiscal year.

“We anticipated achieving double-digit growth in the 1st half, however trading conditions have been volatile and impacted by a number of factors, including increased competition for patients with liver-directed therapies, a new drug approval in salvage metastatic colorectal cancer and restrictions in reimbursement. We have implemented a range of strategic initiatives across the regions to address the disappointing 1st half, which we anticipate will result in an improved 2nd half and full-year dose sales performances, irrespective of the results from our 3 major clinical studies that are due to report findings in the 1st half of calendar year 2017,” CEO Gilman Wong said in prepared remarks. “It is important to recognize that our SIR-Spheres Y-90 resin microspheres business represents a long-term growth opportunity, with a large contestable market and low penetration to date. Our product has industry-leading evidence of benefit for liver cancer patients, which we will continue to leverage.”

The outlook prompted investors Down Under to pare as much as 52.1% from SRX shares, to A$12.20 ($9.11), marking a 2-year low for the stock. SRX shares closed down -37.2% at A$16.00 ($11.94) apiece today.

(A$1 = $0.746549)

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H&T Presspart, Cohero Health launch connected metered-dose inhaler

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H&T Presspart, Cohero Health launch connected metered-dose inhalerH&T Presspart and Cohero Health said today that the companies have launched a connected metered-dose inhaler designed to improve adherence and optimize care for patients with asthma and COPD. It is the 1st connected inhaler integrated with Cohero Health’s BreatheSmart comprehensive respiratory disease management platform.

The 2 companies developed the metered-dose inhaler over the course of a multi-year agreement. Improving patient adherence is vital, the companies said, as less than half of patients take their preventer medications as prescribed. This can result in poor symptom management, hospitalization and avoidable death.

Get the full story at our sister site, Drug Delivery Business News.

The post H&T Presspart, Cohero Health launch connected metered-dose inhaler appeared first on MassDevice.


Medtech approvals: FDA releases November 2016 PMA approvals

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FDA logo

Summary of PMA Originals & Supplements Approved

  • Originals: 1
  • Supplements: 114
Submission Number Date Final Decision Review Track Trade Name Appl/Spr Name Approval Order Statement
P150043 11/09/2016 PMAO – PMA Original QVCAD SYSTEM QVIEW MEDICAL, INC. Approval for the QVCAD System. The QVCAD System is indicated for use as an aid to the reader during screening procedures in searching images of female breasts produced by the somo.v Automated Breast Ultrasound System (screening mammography BI- RADS® Assessment Category 1 or 2, and BI-RADS Composition/Density c or d) to detect mammography-occult lesions in regions not known to have suspicious findings. The indicators produced by the QVCAD System are not intended to be used for diagnostic characterization of suspicious findings.

The FDA also released a full list of supplement PMA approvals for the month.

The post Medtech approvals: FDA releases November 2016 PMA approvals appeared first on MassDevice.

CMS pinpoints cost-driving drugs in newly released data

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CMS pinpoints cost-driving drugs in newly released dataCenters for Medicare & Medicaid Services released 5 years of pricing data for a list of more than 5,000 drugs this week. The data illustrate that a handful of cost-driving drugs experienced price hikes in 2015, which cost taxpayers millions in added Medicare spending.

The price of some drugs went up almost 500%, with name-brand drugs experiencing the largest price spikes. According to the data, medications used to treat conditions such as hepatitis C, diabetes and high blood pressure cost taxpayers more than $14 billion last year. In response to the agency releasing the data, CMS Acting Administrator Andy Slavvit tweeted, “When taxpayers pay, prices should be public.”

Get the full story at our sister site, Drug Delivery Business News.

The post CMS pinpoints cost-driving drugs in newly released data appeared first on MassDevice.

Potential Trump pick for FDA chief has no medical experience, prompting concerns

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Potential Trump pick for FDA chief has no medical experiencePresident-elect Donald Trump is reportedly considering Jim O’Neill, a libertarian and Silicon Valley investor with no medical experience, as head of the FDA and that has some healthcare experts concerned.

O’Neill has made controversial statements about the federal safety watchdog, including in 2014 when he said that the agency should no longer evaluate whether medical devices or drugs are effective when considering them for approval.

“We should reform FDA so that it’s approving drugs after their sponsors have demonstrated safety and let people start using them at their own risk, but not much risk of safety,” O’Neill said, according to The Hill. “But let’s prove efficacy after they’ve been legalized.”

Get the full story at our sister site, Medical Design & Outsourcing.

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Medical device tax likely to get the axe under Trump admin

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Medical device taxThe medical device tax is likely to quickly be on the chopping block under the incoming Donald Trump administration.

The 2.3% medical device tax, enacted as part of Obamacare in 2010, took effect at the beginning of 2013 but was tabled for 2 years last December as part of an omnibus tax and spending bill. The tax, a levy on all U.S. sales of prescribed medical devices, was slated to go back into effect at the beginning of 2018.

Trump and the incoming Republican-led Congress and Senate are likely to permanently repeal the tax in a step to appease medical device companies and the industry as a whole, while following the Republican credo of cutting taxes for large industries.

There are approximately 9,000 U.S.-based medical device manufacturers which provide about 520,000 U.S. jobs and produce $150 billion in direct sales, according to industry advocacy group AdvaMed.

Repealing the tax would further improve the already favorable tax profile of Medtronic (NYSE:MDT), 1 of the largest U.S. medical device companies. Two years ago, Medtronic did an “inversion” deal, which is when a U.S. company shifts its home base to another country, at least on paper, to cut its tax bills. Medtronic is now technically based in Ireland, though it is still managed in Minnesota.

Republican lawmakers have indicated that there’s little reason to fear that the tax will return, as they hope to not only overturn the tax, but are aiming at a full repeal of the Affordable Care Act. Senate Republican Leader Mitch McConnell said that repealing the ACA will be the 1st order of business in the senate when it meets in January.

Republican senator John Barrasso said he expects Obamacare will be repealed in a way that will circumvent expected Democratic resistance.

“The plan is to move the entire piece that we moved last year. And it did include the medical device repeal, so I would expect that to be part of the list as well. It’s to repeal the taxes related to Obamacare,” Barrasso told Reuters.

Repeal of the tax will remove approximately $2.5 billion in federal funding annually.

Material from Reuters was used in this report.

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AngioSoma taps new CEO

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AngioSoma taps new CEOAngioSoma (OTCQB:SOAN) said today that it named Ken Stephenson to the Montgomery, Texas-based company’s corner office. Alexanderia Blankenship will now serve as chief operating officer and executive VP.

Stephenson has worked with hospitals, health insurance organizations and physician’s offices throughout Texas, according to the company. He previously helped set up practices for interventional radiologists and cardiologists, a perspective that AngioSoma said it hoped will help bridge the gap between its products, current standard-of-care treatments and insurance reimbursement processes.

Get the full story at our sister site, Drug Delivery Business News.

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Researchers develop insulin-producing artificial beta cells

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Researchers develop insulin-producing artificial beta cellsResearchers from ETH Zurich have developed artificial beta cells that can measure blood glucose concentration and respond by producing insulin. The team’s work was published this week in Science. 

The ETH researchers used the natural glucose transport proteins and potassium channels found in the membrane of human kidney cells and modified them with a voltage-dependent calcium channel, a gene to produce insulin and a hormone that helps to regulate blood sugar levels, GLP-1. Early tests of the cells in mice with diabetes were promising, as the modified human kidney cells worked for 3 weeks, according to the team. “They worked better and for longer than any solution achieved anywhere in the world so far,” lead researcher Professor Martin Fussenegger said in prepared remarks.

Get the full story at our sister site, Drug Delivery Business News.

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Mylan, Allergan launch fight over Restasis eye drop patents

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Mylan, Allergan launch fight over Restasis eye drop patentsAllergan (NYSE:AGN) said this week that it will “vigorously defend” the patents for its Restasis eye drops, after the U.S. Patent and Trademark Office’s Patent Trial and Appeal Board agreed to an inter partes review of 6 patents as requested by generic competitor Mylan (NSDQ:MYL). The patents are valid until August 2024.

“Allergan is disappointed in the PTAB’s decision to institute IPR proceedings regarding the patents that protect Restasis,” the company wrote in a statement yesterday. “Allergan is currently reviewing the grounds for the decision to institute, and will continue to vigorously defend the patents in the IPR proceeding and pursue all legal options available to protect its products and intellectual property rights for this product.”

Get the full story at our sister site, Drug Delivery Business News.

The post Mylan, Allergan launch fight over Restasis eye drop patents appeared first on MassDevice.


MassDevice.com +5 | The top 5 medtech stories for December 9, 2016

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plus5-node

Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.

Get this in your inbox everyday by subscribing to our newsletters.

 

5. Medtech approvals: FDA releases November 2016 PMA approvals

MassDevice.com news

The FDA released the pre-market approvals it issued during November 2016, including original and supplemental PMAs. Read more

 


4. Gordian Surgical wins FDA clearance, raises $2m for TroClose1200

MassDevice.com news

Trendlines Medical portfolio company Gordian Surgical said this week it won FDA clearance for its TroClose 1200, along with announcing the closure of a $2.3 million funding round.

The Israel-based company’s TroClose 1200 trocar is designed to enable access to the abdomen during laparoscopic surgery, as well as closing the access through suturing incisions in the abdominal wall. Read more


3. Sirtex slides on lowered profit outlook

MassDevice.com news

Sirtex Medical shares closed down more than -37% today after the Australian medical device company lowered its profit outlook for the rest of the year.

Sydney-based Sirtex said it expects earnings before interest, taxes, depreciation and amortization to be down -12% on a constant-currency basis compared with fiscal 2016 for the year ending June 30, 2017. The company pegged the expected shortfall to lower-than-forecast dose sales in the Americas and EMEA regions for its SIR-Sphere microspheres, which are used to treat liver cancer. Read more


2. Zimmer Biomet, U.S. Justice Dept. near deal on bribery charges

MassDevice.com news

The U.S. Justice Dept. and Zimmer Biomet are close to reaching a deal to settle bribery allegations against the orthopedic device giant, according to federal prosecutors.

The DoJ alleged that Biomet and its subsidiaries paid out more than $1.5 million in illegal kickbacks to employees of state-owned health services in Brazil and China. Biomet paid $22 million in March 2012 to settle the case with the Justice Dept. and the U.S. Securities & Exchange Commission, agreeing to a deferred prosecution agreement to guard against further misconduct (Zimmer and Biomet closed their $14 billion merger in June 2015). Read more


1. How the 21st Century Cures Act will affect medical devices

MassDevice.com news

The U.S. Senate overwhelmingly passed the 21st Century Cures Act, after the U.S. House voted to enact the healthcare measure last week. The bill will move to President Barack Obama’s desk and he is expected to sign it into law soon.

The sweeping healthcare legislation has a number of provisions that are intended to improve the regulatory process for medical devices, such as the requirement that the FDA establish a Breakthrough Devices program to provide priority review for devices that yield “more effective treatment or diagnosis of life threatening or irreversibly debilitating human disease or conditions”. Read more

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French women file complaints over complications with Bayer’s Essure

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Bayer's EssureTwo French women who’ve used Bayer‘s (ETR:BAYN) controversial Essure contraceptive implant have filed a legal complaint alleging similar side-effects to those filed in the U.S.

Essure is a small metal coil that’s placed in the fallopian tubes via catheter. The FDA said last year that in the 13 years since Essure’s approval, the agency had received 5,093 complaints, including for pain or menstrual irregularities after using the device, and complaints of the device breaking. In addition to 5 fetal deaths, there were 4 reports of adult deaths for reasons such as infection and uterine perforation, the FDA said.

The plaintiffs are seeking judicial actions requesting an expert to determine the relationship between the device and the patients pathologies, according to their representative Charles Joseph-Oudin.

The action has prompted the French Health ministry to say that checks carried out since last year show that the problems were linked to the way the Essure devices were inserted, and not the device itself.

“The investigations demonstrated that the medical complications that have been observed originated from the way the device was implemented,” the ministry said, adding the product itself was sound.

Legal counsel for the women in the case is hopeful that hearings will take place as soon as January.

Approximately 120,000 women in France has used the device since 2002, with reported side effects of depression, dizziness and uterine perforation, according to French newspaper Le Parisien.

In November, the FDA released new labeling requirements for Essure other permanent hysteroscopically-placed tubal sterilization implants.

Updated guidelines from the FDA will require a patient checklist to avoid possible adverse events and a boxed warning as labeling for these devices from now on, according to releases posted this week by the federal watchdog.

The FDA mandated a new study and new labeling of the device earlier this year.

In August, the FDA said it completed a review of a trade complaint which alleged that Bayer  was engaged in clinical trial misconduct and altering data, saying it found no signs of manipulation.

Material from Reuters was used in this report.

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Vapogenix closes $8.2m Series C for topical painkiller

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Vapogenix closes $8.2m Series C for topical painkillerVapogenix Inc. said yesterday that it raised $8.2 million in a Series C financing round to fund the development of its locally-acting painkiller. Pamoja Capital and a group of pain physicians led the round.

The Houston, Texas-based company’s technology is a topical formulation of volatile anesthetics, which are normally inhaled as general anesthesia. Vapogenix has developed volatile anesthetic-based topical gels and liquids to treat wounds, combat-related injuries, osteoarthritis, and muscular and inflammatory conditions. The funding will support a phase II proof-of-concept study of the topical painkiller, which Vapogenix anticipates will begin next year.

Get the full story at our sister site, Drug Delivery Business News.

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What’s next for Medtech in the EU, post-Brexit?

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BrexitAfter Britain’s vote to withdraw from the European Union, medical device companies have been facing an uncertain future in the region.

Many of the changes will depend on just what extent the UK disconnects from the EU, according to a Nobles interview with MedEuronet co-founder Kristine Morrill.

If the UK exits fully, the country will leave the EU regulatory system, including the CE Mark system. This would mean separate approval processes would be required in both the EU and UK. This could mean the end to easy, seamless approvals across the region, as separate regulatory pathways would have to be sought, with separate clinical studies, according to the interview.

It could also spell out issues for American companies who work with the EU through notified bodies in the UK or Ireland, due to language commonalities, as they would no longer be able to operate through those venues.

Companies aren’t standing still, however, with the changes expected to take at least 2 years.

“If you want to get on the market in the UK, now is a really good time to do it because you still have the benefits of being in the EU,” Morrill told Nobles in an interview.

If companies are looking to avoid a possible sticky situation of entering the EU through a possibly-disconnected UK, Morrill said that Germany would be the easiest point of entry into the region.

But despite the questions in the air, most companies don’t seem to be sweating the Brexit as much as the medical device directive that’s slated to be instituted by the end of this year or early next year, Morrill said.

“I think that’s where most people have been putting their attention because that has a bigger impact. You can go to market in Europe without doing the UK. It’s not a make-or-break market today, by and large, unless you make the investment of getting a NICE recommendation, etc,” Morril told Nobles in an interview.

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Iridex prices $16m offering

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IridexIridex (NSDQ:IRIX) today priced a planned $16 million offering with funds slated to support possible licensing or acquisition of intellectual property or acquisitions of businesses.

The Mountain View, Calif.-based company said it plans to offer 1.15 million shares at $14 per share, expecting to bring in approximately $16.1 million before expenses. The round includes a 30-day underwriter’s option for the purchase of up to an additional 172,500 shares.

Net proceeds from the round are expected to be approximately $15.1 million after underwriting discounts, assuming an un-exercised over-allotment, according to a press release. Iridex hopes to close the round on December 14.

In February, Iridex said it won CE Mark approval in the European Union for its Cyclo G6 laser system designed to treat patients with Glaucoma.

The Cyclo G6 system is designed specifically for treating patients diagnosed with “a range of glaucoma disease states” and features Mountain View, Calif.-based Iridex’ MicroPulse tissue-sparing technology as we ll as single use probes.

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