Category: Spinal Implant

Intrinsic Therapeutics raises $18 million

February 26, 2010 by MassDevice staff

Intrinsic Therapeutics Inc., a Woburn, Mass.-based spinal prosthesis maker, raised $18 million out of a $20 million offering, according to a regulatory filing with the federal Securities & Exchange Commission.

No new investors were listed on the filing, but previous investors New Enterprise Associates and Spray Ventures were listed as board members. Both firms have been with Intrinsic since their initial investment of $7.2 million in 2001.

Orthofix swings to profit in 2009

February 18, 2010 by MassDevice staff

Orthofix International NV (NSDQ:OFIX) turned the page on a fairly disastrous 2008, swinging from a $228 million loss to a $24 million gain over the course of 2009.

The Dutch firm, which maintains its U.S. headquarters in Boston, reported sales of $144 million during the three months ended Dec. 31, 2009, an 8 percent increase from the $132 million the company reported during the same period the prior year. Big increases in sales of spinal stimulation devices and implants, which made up about half of the company's total sales during the quarter, drove growth and made up somewhat for declines in the company's biologic and sports medicine businesses, which both reported lower sales.

DePuy Spine wins spinal disc liability lawsuit

February 17, 2010 by MassDevice staff

The U.S. Court of Appeals for the Ninth Circuit handed a victory to DePuy Spine Inc. in a product liability lawsuit over one of its spinal disc implants.

Camille Carson sued the Raynham, Mass.-based Johnson & Johnson (NYSE:JNJ) subsidiary in 2006, after a February 2005 discectomy procedure to replace two of her vertebral discs with DePuy Charite implants. Experiencing extreme pain a few months after the surgery, Carson had a second procedure in November 2005 which revealed that one of the Charite discs was broken and had to be removed in pieces, according to court documents. Carson accused the company of being liable for manufacturing a defective product and for promoting the off-label use of the device.

FDA issues warnings, recall

February 3, 2010 by MassDevice staff

The Food & Drug Administration issues a pair of warnings to Millipore Corp. (NYSE:MIL) and Cardiac Sciences Corp. (NSDQ:CSCX) and put out a Class I recall of Synthes USA's (SIX:SYST) Synex II vertebral implant.

Millipore warned on Swine Flu diagnostics claims

The FDA sent the Billerica, Mass.-based lab instruments maker a warning letter in September of last year about a promotional email the company sent out touting its influenza diagnostics.

St. Jude Medical wins Japanese approval for spinal cord stimulation system

January 18, 2010 by MedCity News

By Brandon Glenn

St. Paul, Minnesota —St. Jude Medical Inc. (NYSE:STJ) won Japanese regulatory approval to begin selling a spinal-cord stimulation system for patients suffering from chronic pain.

Medtronic introduces the Sovereign spinal system for lumbar surgery

December 18, 2009 by MassDevice staff

MEMPHIS, TENN.– December 18, 2009 – Medtronic, Inc. (NYSE: MDT) today announced the U.S. launch of the SOVEREIGN™ Spinal System.

InVivo Therapeutics adds retired Siemens boss to board

December 15, 2009 by MassDevice staff

InVivo Therapeutics Corp. added George Nolen, the former president and CEO of Siemens Corp., to its board of directors.

Nolen ran Siemens Corp., the U.S division of Siemens AG, from 2004 to August, 2009, when the 53-year-old retired after a 26-year stint. He currently sits on the board of the U.S. Chamber of Commerce and was named chair of the policy board at the Virginia Bioinformatics Institute.

InVivo CEO Frank Reynolds called Nolen a "mentor" from his own tenure at Siemens Corp., according to a press release.

Nolen was equally generous in his praise.