Archive for July 2018
IBM’s Watson Recommended “Unsafe and Incorrect” Cancer Treatments
Last year, studies presented at the American Society of Clinical Oncology’s annual meeting showed that IBM Watson was pretty darn good at creating treatment plans for cancer patients. Turns out, however, that the AI is still far from perfect: according to internal documents reviewed by health-oriented news publication Stat, some medical experts working with IBM on its Watson…
Read MoreHouse Votes to Repeal Obamacare’s Medical Device Tax
The U.S. House of Representatives voted 283-132 this week to repeal the 2.3% tax levied upon medical devices as part of the Affordable Care Act. The medical device tax, which has long been decried by the industry as a measure that squashes innovation and kills jobs, has been on hold since 2014. The tax’s moratorium…
Read MoreBoston Scientific to Buy Claret Medical for up to $270 Million
Boston Scientific Corporation today announced it has signed an agreement to acquire Claret Medical, Inc., a privately-held company that has developed and commercialized the Sentinel® Cerebral Embolic Protection System. The device is used to protect the brain during certain interventional procedures, predominately in patients undergoing transcatheter aortic valve replacement (TAVR). The transaction price consists of $220 million in up-front…
Read MoreFDA Clears First Nanotechnology PEEK Devices for Spinal Intervertebral Fusion
Vallum Corporation, a medical device company, today announced that it has received clearance from the U.S. Food and Drug Administration (FDA) to market a polyetheretherketone (PEEK) spinal interbody fusion device with a PEEKplus® nanotextured surface created by Vallum’s proprietary and patented Accelerated Neutral Atom Beam (ANAB) technology. PEEKplus® is the first and only FDA-cleared nanotextured…
Read MoreBiotech Manufacturing is Booming with Growth of Biologics and Gene Therapies
Manufacturing is the non-glamorous side of biopharma, although its impact on the economy shouldn’t be underestimated. For example, a recent report published by TEConomy and BIOtitled, “Investment, Innovation and Job Creation in a Growing U.S. Bioscience Industry 2018,” reported that the average wage in bioscience manufacturing was $64,860. It also reported that the six largest employer states in the drugs…
Read MoreNovel Intracranial Fluid Management System Receives 510(k)
IRRAS AB, a commercial-stage medical technology company focused on developing and commercializing transformative treatments to manage intracranial fluids, announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for IRRAflow, its integrated, closed medical device system that enables controlled cerebrospinal fluid (CSF) management as well as accurate, continuous monitoring of intracranial pressure…
Read MoreDigital Surgery’s AI Platform Will Guide Surgical Teams Through Complex Procedures
Digital Surgery, a health tech company shaping the future of surgery through the convergence of surgical expertise and technology, today announced it has developed and successfully demonstrated the world’s first real-time, dynamic artificial intelligence (AI) system designed for the operating room (OR). The company is building the data to power the future of surgery through…
Read MoreInnovative Bedside Biologic Maker RedDress Receives 510(k) for RD1 System
RedDress Ltd announced today that it has received U.S. Food and Drug Administration (FDA) 510(k) clearance for its RD1 system. RD1 is an innovative wound care product which enables health care providers to produce in real time, in vitro whole blood clots, for use as a chronic wound care product. It has been developed to…
Read MoreFirst Ever Color X-Ray Performed on a Human
What if, instead of a black and white X-ray picture, a doctor of a cancer patient had access to colour images identifying the tissues being scanned? This colour X-ray imaging technique could produce clearer and more accurate pictures and help doctors give their patients more accurate diagnoses. This is now a reality, thanks to a…
Read MoreImplantable Organ Developer Miromatrix Raises Additional $15.7M in Series B Funding
July 12, 2018 – Press Release by Miromatrix Medical Miromatrix Medical Inc. is excited to announce it recently raised $15.7 million in Series B-2 funding, surpassing its goal of $10 million. As part of the round, Miromatrix also welcomed its first large strategic investor, a multibillion-dollar health care company. The additional funding supports the company’s…
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