Genome Medical Holding Co. put its competitors on notice with two big moves designed to position the company as a leader in genetic testing and virtual genomic care. The company acquired Genematters LLC, a provider of telegenetics counseling, and closed a $60 million series C fundraising round. Together, the moves stand to significantly expand Genome Medical’s digital infrastructure and clinical expertise in genetics services.
Vagus nerve stimulation (VNS) researchers notched another success with FDA approval of a drug-free rehabilitation system that uses the technology to help patients who have lost mobility in their hands and arms as a result of ischemic stroke regain function. Microtransponder Inc.’s Vivistim pairs rehabilitation exercises with VNS to enhance their impact. The clinical study evaluated by the FDA for the system's approval showed that Vivistim doubled the improvement in upper extremity motor function compared to supervised rehabilitative exercises alone at six weeks and 90 days.
Eclipse Regenesis Inc. received a National Institutes of Health fast track grant of $1.7 million to advance development of the Eclipse Xl1 system for short bowel syndrome. The spring-like Eclipse device harnesses mechanotransduction to stimulate growth of new, functional intestinal tissue. Short bowel syndrome is a devastating and rare condition that leads sufferers with too little small intestine to extract sufficient nutrients to sustain life. The grant for Menlo Park, Calif.-based Eclipse came through NIH’s small business innovation program.
Cardiac Dimensions Inc. launched the Empower trial of its Carillon mitral contour system for the treatment of heart failure patients with early-stage functional mitral regurgitation. The company expects to enroll up to 300 patients at 75 sites in the international, randomized, sham-controlled trial.
Jorge Ulloa of Hancock Jaffe Laboratories Inc. presented positive results from a first-in-human trial of implantation with its Venovalve device at the Society for Vascular Surgery annual meeting in San Diego. Two years following surgery, outcomes included more than 60% improvements in reflux and disease manifestations and 93% decrease in pain in patients with chronic venous insufficiency with no safety issues or venous ulcer recurrences.
Verily Life Sciences LLC, a division of Alphabet Inc., took its first major step to fulfill its goal of transforming clinical trials with the announcement of an agreement to buy Signalpath LLC for an undisclosed sum. The deal is Verily’s first major acquisition since the company spun out of Google Inc. in 2015. It’s likely not the last deal for the company in the short-term, however, as it raised $700 million in December 2020 to fund its aggressive expansion plans.
Opya Inc., a provider of integrated autism services, secured $15.4 million in a series A fundraising round. New investors in the round included Panoramic Ventures, Softbank’s Opportunity Fund, Disability Opportunity Fund, and Raven One Ventures. Divergent Investments and Altitude Ventures added to their existing investments in the company.
Using a minimally invasive brain implant, Feinstein Institutes for Medical Research scientists produced tingling sensations in the fingers of patients who lacked the sense of touch as a result of nerve damage, according to a study published in Brain Stimulation. A second study by the team, which appeared in Frontiers in Neuroscience, used stereoelectroencephalography (SEEG) electrodes to decode neural signals to improve the hand control algorithms in brain-computer interfaces.
Abbott Laboratories received FDA approval for its Amplatzer Amulet left atrial appendage occluder to treat people with atrial fibrillation who are at risk of ischemic stroke about a month earlier than generally expected, given the backlog at the FDA. The dual-closure device closes the left atrial appendage during the procedure, reducing the risk of blood clots immediately and eliminating the need for blood thinners both during the healing process and longer term.
Memic Innovative Surgery Ltd. agreed to combine with Medtech Acquisition Corp. in a transaction expected to close in the fourth quarter of 2021. The deal establishes an eye-popping $1 billion pro forma valuation for the company, which received FDA clearance for its first device just four months ago.