The race to the noninvasive glucose monitor is apparently passé. Right now it's all about getting glucose level data on mobile devices as well as enabling easy analysis and sharing of the data. That's what the wireless glucose monitor from Telcare does. For its efforts, Telcare got a $32.5 million Series C round.
Biogen Idec's new multiple sclerosis pill Tecfidera has been on a roll since its launch last year, with more than $1 billion in sales to its credit already. Today, however, the drug hit a couple of speed bumps: Third-quarter sales missed analyst estimates, and the company announced a patient had died after developing a rare brain infection previously linked to MS drugs.
Boston Scientific expects an FDA approval of its controversial stroke-fighting device Watchman during the first half of next year coming off its third positive FDA panel, despite a checkered regulatory past that includes a 2010 rejection due to safety concerns.
Cardiovascular device company Sorin Group has invested $20 million in Respicardia. The financing is to be used to fund ongoing clinical testing of the startup's remede System, which is a pacemaker-like device for central sleep apnea that delivers electrical pulses via an implantable lead to the phrenic nerve.
Genomic sequencing seems to have come of age with Illumina as a substantial driver and beneficiary. During the third quarter, the company achieved astonishing revenue growth of 35% to $481 million over the same quarter last year.
As med tech companies set their sights on wearable technology with 3-D imaging capabilities, a Florida startup brought in $542 million in VC funding to develop its innovative eyeglasses-like device that could provide a new interface for patient-doctor communication.
Medrobotics, a surgical products company focused on medical robotics, raised $20 million in equity financing.
St. Louis, MO-based Veran Medical closed a $12 million financing round. The company, specializing in thoracic navigation an biopsy for early detection of lung cancer, will use the funds toward continued commercial expansion in the U.S. and international launch of the Veran Thoracic Navigation System.
Philips shed as much as 4% in early trading as continued manufacturing problems and intellectual property litigation as well as weakness in Russia and China weighed on investor confidence after it reported third-quarter results.
The world's largest CROs are reaping the benefits of two major market trends: Big Pharma is finally getting back to spending big on R&D after some lean years post-downturn, and biotech is enjoying a protracted bit of bullishness that has lined pockets around the industry.