News

Micell Technologies, Inc received CE (Conformite Europeenne) Mark approval for its MiStent® Sirolimus Eluting Absorbable Polymer Coronary Stent System (MiStent SES®) introducing a thin-strut stent that features elimination of the coating from the stent in 45-60 days and the complete absorption of the polymer coating within 90 days. The MiStent SES is unique in providing local drug delivery both during and after the period of polymer absorption, thereby eliminating long-term polymer exposure, a potential cause of delayed healing and late adverse events.
Micell's Chief Executive Officer, Arthur J. Benvenuto, commented, "The MiStent SES brings a new paradigm of safety without compromise to efficacy or deliverability. With polymer absorption faster than any other DES currently available, we believe the MiStent SES provides a long-term safety profile of a highly deliverable bare metal stent."

RTI Biologics Inc a leading provider of orthopedic and other biologic implants, announced today its intent to acquire privately held Pioneer® Surgical Technology (Pioneer), headquartered in Marquette, Mich. Pioneer is a leading medical
technology company that manufactures and distributes metal and synthetic products in the orthopedics, biologics, spine, trauma and cardiothoracic markets. The acquisition of Pioneer supports RTI's strategic initiatives to expand its current implant portfolio into metals and synthetics and to grow direct distribution. 
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Bioptigen Inc. has introduced 1m axial resolution imaging to its line of EnvisuTM spectral domain OCT systems. The company has now integrated NKT Photonics SuperK supercontinuum laser with Bioptigen’s new 300nm spectrometer to achieve a breakthrough in ophthalmic imaging for preclinical research.
“The progression to 1m extreme resolution imaging is an exciting advancement for our Envisu R-Class research product line”, said Dr. Eric Buckland, CEO of Bioptigen. “The importance of this innovation is that it offers researchers true cellular-level in vivo optical histology. This Extreme High Resolution (XHR) capability is unlocked only by the combination of Bioptigen’s patented spectrometer and signal processing technologies with the NKT Photonics SuperK supercontinuum source.”

It’s not a soap opera, but there won’t be a dry eye in the house Monday morning when fast-growing Morrisville medical device company TearScience gets a starring role on the popular CBS television show, “The Doctors.”

The company’s LipiFlow treatment for evaporative dry eye will be featured on the syndicated talk show on CBS affiliates in the U.S. and Canada. Check www.thedoctorstv.com for show times in each market.
The company recently received $70 million in funding for a global sales and marketing rollout of its unique system that provides significant clinical improvement in the treatment of evaporative dry eye. Of the more than 100 million dry eye sufferers worldwide, approximately 65 percent have evaporative dry eye, which is caused by a gland malfunction in the eyelid that leaves a lipid (oil) deficiency in the eye’s natural tear film.

Advanced Animal Diagnostics, a developer of rapid, on-farm diagnostics to improve animal health and productivity, announced today that it closed a $6 million tranche of Series B financing from Intersouth Partners, Novartis Venture Funds and private investors.
Funds will be used to launch AAD's Qscout™ automated on-farm lab system and Qscout™ MLD rapid on-farm test for mastitis in dairy cows. Proceeds will also develop new tests to detect disease-causing pathogens in hours instead of days required by current tests.
"I understand how frustrating and costly it is to wait for lab results," says Dr. Ben Shelton, owner of Rocky Creek Dairy, Rocky Creek Veterinary Service and AAD board member. "Producers need fast diagnostic information on the farm that's cost-effective enough to use widely, and that's what this funding will help ensure."

The medical device company nContact has raised nearly $7 million in equity funding and is looking to raise $6 million more, according to a securities filing Friday.The $13 million fundraising round involves 10 investors and began March 1. Formerly known as nContact Surgical, the Morrisville-based company has pulled in more than $50 million over the past seven years. NContact focuses on closed-chest medical procedures to treat heart ailments.The company’s cardiac ablation device, to be marketed as EPi-Sense, received FDA approval earlier this year, following an earlier approval in Europe. Cardiac ablation is a procedure for treating irregular heartbeat. In one common type of ablation, a catheter carrying electric current scars small sections of the malfunctioning heart tissue in order to keep them from carrying faulty nerve impulses.

Wilmington-based TranS1 is acquiring Baxano, a San Jose, Calif.-based medical device company. TranS1 has an operation with 20 employees in the Triangle.
Baxano fits in with the mission of TranS1 (Nasdaq: TSON) to develop and market products to treat degenerative spinal conditions. Baxano manufactures and markets the iO-Flex system, utilized in standard spinal decompression surgery. The company is also developing the iO-TomeTM system, a precision facetectomy instrument.
Under the terms of the agreement, TranS1 will issue about 10.4 million shares of TranS1 common stock and pay $550,000 in cash to acquire Baxano. The company will also refinance $3 million in existing debt of Baxano when the transaction close.
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Nanotechnology company Liquidia is considering spinning its research off into one, perhaps even two companies to pursue different targets utilizing its proprietary nanoparticle technology.
Liquidia’s patented method of manufacturing nanoparticles has already caught the eye of Big Pharma.
GlaxoSmithKline (NYSE: GSK) last year struck a deal with Liquidia that gave GSK exclusive rights to develop new vaccines using the technology. Now Liquidia is looking at additional health care targets as well as consumer applications of the technology, CEO Neal Fowler said during CED’s Life Science Conference in Raleigh.
“We’re out to change the world, it’s technology the world has not seen before,” Fowler said.

Molecular diagnostics company GeneCentric Diagnostics, which has developed personalized medicine tests for lung cancer, is raising $2 million to launch one of its tests, build a lab and hire key staff.
The Durham company is led by former LabCorp executive Dr. Myla Lai-Goldman based on technology originally developed at the Lineberger Comprehensive Cancer center at UNC’s School of Medicine. Lai-Goldman, speaking during CED’s 2013 Life Science Conference, said that the company’s technology is being developed into new diagnostics to help doctors determine which cancer drugs would work best for particular patients.

Intertape Polymer Group Inc. today announced plans to relocate its Columbia, South Carolina manufacturing operations within the same region. The new facility will include state-of-the-art manufacturing equipment which will allow Intertape to realize significant productivity gains, provide a better working environment for employees, and benefit from advanced environmental controls. All dollar amounts are US denominated unless otherwise indicated.
The relocation process and subsequent shutdown of the existing Columbia facility is expected to occur over a two year period and be completed in the first half of 2015. The Columbia plant dates back to the 1960's and its competitive position has become increasingly unsustainable. The layout of the buildings is not compatible with the design of the new manufacturing equipment being purchased.