Life Sciences
Top stories summarized by our editors
5/24/2018

The US and China are in talks to negotiate better access for Chinese imports of biotech crops as part of a trade deal. The discussion is nearing a deal that could see China buying more US farm biotech crops.

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Reuters
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US, China
5/24/2018

The Environmental Protection Agency and the Energy and Agriculture departments are scheduled to meet today to discuss President Donald Trump's planned changes to the country's biofuel laws. Trump wants to increase sales of higher-ethanol gasoline blends, count ethanol exports toward biofuel volume mandates and reduce the number of waivers that the EPA can grant small refiners.

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Reuters
5/24/2018

A round of Series A financing brought in $13.4 million for UK-based Ultromics, a startup that is developing an artificial intelligence technology for coronary heart disease diagnosis. The proceeds will be used to commercialize the company's technology in the US and the UK, as well as for continued research and development efforts for new diagnostic support solutions.

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FinSMEs
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Ultromics, Ultromics
5/24/2018

Term loans worth up to $40 million were secured by TransEnterix under an agreement with Hercules Capital and certain financial institutions and banks, with the first tranche of $20 million being funded Wednesday. The company, which seeks to use the money for refinancing its existing debt and strengthening its balance sheet, will receive an additional $10 million when it meets certain sales targets for its Senhance system and the final $10 million when a designated six-month trailing revenue from the product is achieved.

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Seeking Alpha
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TransEnterix, Hercules Capital
5/24/2018

The proposed size of an initial public offering was downsized by Irvine, Calif.-based Hancock Jaffe Laboratories from almost 1.9 million shares priced at $6 to $8 each for up to $15 million in gross proceeds to about 1.1 million at the same price range for up to $9.1 million in gross proceeds. The company manufactures bioprosthetic implants for the treatment of heart valve conditions and chronic deep vein insufficiency, as well as for coronary artery bypass graft procedures.

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MassDevice (Boston)
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Hancock Jaffe Laboratories
5/24/2018

The first tranche of a funding round led by Boston Scientific has pulled in $7 million for RenovoRx, bringing the company closer to its $10 million goal. The proceeds will be used to develop the company's dual-balloon infusion catheter, called RenovoCath system, which is intended for the delivery of chemotherapy to tumors in patients who have locally advanced pancreatic cancer.

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Boston Scientific, RenovoRx
5/24/2018

Jim Graba was tapped to serve as application specialist and chief trainer at VentriPoint Diagnostics. Graba, a certified heath informatics professional, will oversee customer deployment and training and provide the development team with product strategy and direction.

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Proactive Investors
5/24/2018

Six-month data from a proof-of-concept, multicenter trial presented at the EuroPCR meeting showed the use of Medtronic's Symplicity Spyral renal denervation system in patients who were on antihypertensive drugs led to a significantly greater reduction in blood pressure, compared with a sham procedure. The results, based on the first 80 participants in the 467-patient study, showed use of the sham procedure was associated with about 1.6 millimeters of mercury in average systolic blood pressure reduction, compared with 9 millimeters of mercury with renal denervation.

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Medtronic
5/24/2018

The FDA granted Avinger 510(k) clearance for its next-generation Pantheris Lumivascular atherectomy system, a combination of catheters and real-time intravascular imaging designed for treating patients with peripheral artery disease. Standard and extended-length nosecone versions of the image-guided system are expected to be immediately released to initial US sites.

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Seeking Alpha
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FDA, Avinger
5/24/2018

A recall involving 4,878 units of Abbott's Heartmate 3 left ventricular assist device was classified by the FDA as Class I. The recall was initiated because of a malfunction in the device's outflow graft assembly, but Abbott noted that the purpose is to enable updates to the device's labeling and instructions for use and that no devices are being physically recalled.

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MassDevice (Boston)
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Abbott, FDA