A Texas jury has found that Palomar’s products do not infringe on a Candela patent.

Candela had accused eight Palomar handpieces of infringing on three Candela Patents. Curiously, just days before the start of trial, Candela dropped its accusations against Palomar’s LuxB, LuxY, LuxYs, and LuxG handpieces.

When Candela went to trial, the only accusation related to patent 5,810,801. The company had significantly reduced the amount of damages it was seeking.

Patent 5,810,801 is a method for treating wrinkles in skin using a wave laser or incoherent radiation. The method comprises generating a beam of radiation, directing the beam of radiation below a wrinkle in the skin, and thermally injuring collagen in the targeted region. The method may also include cooling the skin above the targeted region prior to thermally injuring collagen.

The jury found Palomar’s products to be non-infringing and the patent claims at issue to be invalid. Palomar’s CEO, Joseph Caruso, commented,

“Candela has admitted that it brought the lawsuit in Texas in retaliation for the hair removal lawsuit. In this just completed Texas trial, Candela’s corporate representative testified under oath that the demand for hair removal was far greater than the demand for any other laser treatment. We agree. That trial is not yet scheduled but we expect the trial to take place next year.”

Palomar’s lawsuit against Candela relates to the infringement of certain hair removal patents.

Previously: Laser Battle Reaches Fever Pitch [Diomed vs. Total Vein Solutions, Diomed vs. AngioDynamics and Vascular Solutions, Diomed vs. AngioDynamics (Round 2), VNUS Medical vs. Diomed, AngioDynamics and Vascular Solutions]

10 October 2008 | Blog, news2 | Douglas Cress | No Comments

The 2008 European MedTech Summit, taking place in Switzerland on November 19-20th, will highlight 25 of the most promising European MedTech companies. The Summit provides unparalleled networking opportunities to get close and personal with rising European medtech  stars, the international investment community, corporations, policy makers, VCs, Entrepreneurs, and leading industry professionals.

The Summit will feature:

• Presentations from leading European device firms.
• A MedTech Expo, featuring an exhibition of medical technologies from select companies and presentations by CEOs
• Panel discussions with medtech experts from Europe and the U.S. covering a range of topics including: best practices in medtech spin-outs from corporations and research institutions, and growth, valuation, and exit opportunities in the device sector.
• One of the prominent events of the Summit is the Gala Dinner on November 19th which will be held at the Château Chillon and hosts 150 invitation-only guests representing over $10 billion+ funds under management.

Visit www.techtour.com for more information.

9 October 2008 | Blog, Member Spotlight, news2 | Douglas Cress | No Comments

STAAR Surgical said Monday that sales of its Visian ICL increased 52% this quarter.

In the U.S., Visian sales increased approximately 25% as compared to a year ago, even as the number of LASIK procedures declined. Internationally, Visian sales increased approximately 65% over year ago levels, further reflecting the increasing market share of the reversible procedure.

STAAR’s implantable collamer lens (ICL) is inserted into the eye during a short surgery. The lens is placed between the iris and the cornea via a small incision. The Visian ICL does not alter any structures within the eye or on the cornea. If necessary, it can be removed.

The increase in sales is notable given the cutback in elective surgical procedures. A weak economy has wreaked havoc on the once booming LASIK surgery market, triggering what some have called a “LASIK recession“.

LCA-Vision, which operates 78 laser vision correction centers in the U.S., saw total procedure volume in the third quarter of 2008 decline by 52% compared with Q3 2007.

“The number of scheduled appointments at our LasikPlus vision centers during the third quarter was well below prior-year numbers,” said Steven C. Straus, LCA-Vision’s CEO.

In August, Advanced Medical Optics (AMO) posted lower-than-expected quarterly earnings and cut its 2008 profit forecast after a weak economy lessened demand for its LASIK procedures.

While many patients opt for laser vision correction, some prefer the reversible option provided by implantable lenses. Staar received a CE Mark for its first ICL in 1997. In December 2005, Visian was approved by the FDA for the treatment of nearsightedness. The ICL has been implanted in 60,000 eyes to date.

Third quarter results will be released on Tuesday, October 28th.

Previously: STAAR Surgical Goes Viral

8 October 2008 | Blog, news1, feature1 | Douglas Cress | 1 Comment

Waterfront Media and Revolution Health have signed a definitive merger agreement. Waterfront’s Everyday Health Network will now include RevolutionHealth.com and the Revolution Health Network.

The combined company will include 24 online health properties, allowing advertisers to target consumers across the entire spectrum of health and wellness.

In December 2007, Revolution Health completed the acquisition of two burgeoning health websites: HealthTalk, a site focused on patients with chronic conditions, and SparkPeople, which offers diet and exercise plans as well as social networking functionality. Revolution sites include carepages.com and drugstore.com – the combined Network attracts more than 12 million unique visitors a month.

According to comScore, Everyday Health has more than 14 million unique users and some 80 million monthly page views. The combined company is expected to reach north of 20 million people and generate more than three billion page views annually.

At last count, its closest rival, WebMD, reported 48.4 million unique monthly users.

Steve Case, founder of Revolution (and co-founder of Internet dinosaur AOL) believes the consumer will be a key driver in the $2 trillion healthcare market. Said Case, “[the] segment is ripe for disruption.”

While WebMD pursures a more traditional publishing model, Case’s focus will remain user interaction.

Capturing and engaging a participatory audience of health-centric individuals could have huge payoff down the line. Competing technologies are becoming harder to differentiate; fostering a loyal user base is a key ingredient for long term success.

Previously: Revolution Health Takes on WebMD with User-Centric Focus

7 October 2008 | Blog, news2 | Douglas Cress | No Comments

In a move that underscores the Natus Medical’s continued commitment to growth, the company has acquired privately held NeuroCom International for $18 million.

NeuroCom develops diagnostics for chronic dizziness, balance, and mobility disorders. The company has developed the EquiTest which uses Computerized Dynamic Posturography to assess and monitor of balance disorders. NeuroCom reported revenue of $11.3 million in the trailing twelve months.

The acquisition adds to Natus’ growth opportunities by broadening its product offerings in the neurology space. The balance and mobility assessment market is potentially underdeveloped; Natus believes NeuroCom products could become the standard of care.

Natus will update its revenue and earnings guidance when it releases financial results for its third quarter ended September 30, 2008. Excluding any unforeseen events, the acquisition will be immediately accretive to earnings, excluding associated one-time charges.

Previously: Natus Further Consolidates U.S. Newborn Hearing Loss Screening Market with SonaMed Acquisition

Acquisition of Xltek to Strengthen Natus’ Neurology Division

6 October 2008 | Blog, news2 | Douglas Cress | No Comments

The AP has a tendency to turn any earnings misstep into a headline. Such was the case with yesterday’s news that “AngioDynamics 1Q profit slips on lower laser sales”. The Business Review said, “AngioDynamics reports 7.1% drop in 1Q net income.”

While true, by most measures, AngioDynamics first quarter was a resounding success.

Net sales were $44.3 million, an 18% increase year-over-year. Gross margin rose to 61.9% compared with 60.0% in the same period last year. Operating income increased to $3.8 million compared with $3.5 million a year ago.

The fall in net income ($2.2 million in the first quarter, compared with $2.4 million in Q2 2007) can be attributed to the inclusion of certain Diomed assets beginning June 17, 2008.

Diomed’s customer base was reluctant to buy new lasers – understandably – until the long-term viability of the company was guaranteed. Sales dried up significantly prior to the acquisition. AngioDynamics lost about $1.5 million in Q1 as a result (there was also a supply issue that limited shipping).

“We inherited a bit of a mess,” said Eamonn Hobbs, AngioDynamics’ President and CEO. “It took us a large part of the quarter to start to see that turn around.”

In September, AngioDynamics began to see evidence of increased laser purchases as customer confidence was restored, even during the summer period – seasonally the slowest quarter for selling laser ablation products. Hobbs expects laser systems sales to grow as the year progresses. AngioDynamics hired 35 former Diomed employees and has integrated them into the company’s Peripheral Vascular business unit.

The company has cash and investments of $59.2 million on hand. AngioDynamics reaffirmed its fiscal 2009 outlook for net sales in the $205-$210 million range.

3 October 2008 | Blog, news1, feature2 | Douglas Cress | No Comments

In July, Cepheid reported $42.1 million in second quarter revenues, a 55% jump from the $27.2 million reported in Q2 2007.

Growth was been driven by hospitals intent on countering the growing scourge of healthcare associated infections. Sales of Cepheid’s Xpert MRSA test (first approved in April 2007) increased 35% from the first quarter, reaching approximately $11 million. Growth was driven in part by a group purchasing contract with Novation, which made its GeneXpert System and Xpert MRSA tests widely available in the U.S. at lower, pre-negotiated prices.

This week, Cephied, received FDA clearance to market its Xpert MRSA/SA Skin and Soft Tissue Infection test for the rapid detection of MRSA and staphylococcus aureus (SA). The new indication could expand already substantial demand for the diagnostic.

The company’s previous MRSA test determined if one was a carrier of MRSA using a nasal swab. The new test, in less than one hour, can determine if a suspect infection is MRSA or a lesser staph infection. Becton Dickinson offers a similar rapid diagnostic combination assay using nasal swabs.

Current culture-based lab testing methods take 24-72 hours to determine if a suspect infection is methicillin-resistant. As a result, physicians and surgeons often prescribe broad-spectrum antimicrobial therapies while awaiting culture results.

The ability to detect MRSA or SA in less than one hour will support informed antibiotic use. Prescribing antibiotics of last resort should be reserved for those patients infected with MRSA, reducing the chance that microbes further develop antibiotic resistance.

2 October 2008 | Blog, news1 | Douglas Cress | No Comments

SyntheMed closed on a $4.0 million private placement today. Investors were issued 10 million shares valued at $0.40 each plus 10 million three-year warrant entitling the holder to purchase one share of common stock at $0.50 per share. SyntheMed, which trades on the over-the-counter bulletin boards, opened at $.23 today.

The transaction was placed through an agent with a consortium of European investors. The company can raise an additional $2.0 million in the private placement on the same terms.

The proceeds will allow the company to continue developing its portfolio of anti-adhesion products and to prepare for the launch of REPEL-CV in the U.S.

Previously: REPEL-CV Now Available in Canada

1 October 2008 | Blog, Member Spotlight, news2 | Douglas Cress | No Comments

Our in-house dynamo, Claudia Pinzon and the rest of the the talented team at OneMedTV, have been busy compiling a wealth of valuable video content captured at AdvaMed2008.

Below, some of that footage. To watch the videos, click the thumbnail or visit OneMedPlace.tv.

Veralight: David VanAvermaete from Veralight presents a new approach to non-invasive diabetes screening through earlier detection and complication reduction.

Microtransponder: T. Jordan Curnes from Microtransponder talks about a wireless neurostimulation device for chronic pain management.

BioControl: BioControl speaks about their latest innovations in the pathogen detection space.

Chemica Technologies: Chemica Technologies is a research-oriented, biotechnology-focused company.

Mesynthes: Brian Ward, Mesynthesis’ President and CEO, explains the company’s proprietary extracellular matrix scaffold technology.

PEAK Surgical: PEAK Surgical is developing tissue disection systems based on proprietary plasma technology with distinct advantages over currently used surgical instruments.

Arterial Remodeling Technologies: Arterial Remodeling Technologies (ART) is developing bioresorbable peripheral and coronary polymer stints that promote the natural remodeling.

ProDrivesystems Management Interviews: ProDrive Systems identifies the functional shortcomings of existing dental technologies.

Seno Medical Instruments: Seno Medical Instruments is a cancer focused company. It aims at the commercialisation of a new modality in cancer screening and diagnosis.

Nano Vibronix: Nano Vibronix recently introduced UroShield, designed to stop biofilm developing in urinary catheters.

ISTO Technologies: ISTO Technologies is an orthobiologics company, developing biologic products to regenerate and restore damaged cartilage and bone.

Allegro Diagnostics: Allegro is a molecular diagnostics company using bioinformatics to diagnose diseases of epithelial origin.

Noxilizer: Noxilizer is developing a gas sterilization system to enable the terminal sterilization of advanced drug-device combination products.

Ivivi Technologies: Ivivi Technologies uses electromagnetic technology to develop non-invasive electrotherapy devices.

AcryMed: AcryMed specializes in the development of wound care and infection control technologies using antimicrobial ionic silver.

Magforce: MagForce Nanotechnologies AG is focused on the development of a new cancer treatment using tumor specific magnetic nanoparticles.

Quidel Corporation: Quidel develops rapid, point of care diagnostics in several specialties.

Xylos: Xylos is a biotechnology company offering solutions for the treatment, repair and replacement of human tissue.

Ikonisys: Ikonisys offers fast and personalized diagnostics for early cancer diagnosis, genetic disorder screening and fertility testing.

Scientific Intake: Scientific Intake is developing and commercializing a noninvasive, clinically validated, bariatric medical device for treatment of obesity.

g-Nostics Ltd: Using a finger-prick, g-Nostics identifies each persons unique molecular profile and then use the information to predict individual response to drug therapy.

Orla Protein Technologies: Orla is integrating biological systems and physical devices through engineered protein interfaces.

30 September 2008 | Blog, news1, Video, feature1 | Douglas Cress | No Comments

In a move that could accelerate the growth of the Clarient’s biomarker business, the company announced Friday that, with Definiens, it will develop and commercialize tools to help evaluate quantitative biomarkers that predict cancer treatment response.

Definiens’ platform uses image analysis algorithms to analyze multi-dimensional image data, regardless of file type, complexity or size. The software can be used to automatically identify and quantify regions of interest within breast, prostate and colon cancer tissue samples.

Clarient processes large numbers of tissue samples for both clinical decision-making and drug development. These tissue samples are converted into high-resolution digital images that are managed and analyzed using Clarient’s web-based customer portal, PATHSiTE. Definiens will integrate its image analysis tools into PATHSiTe, allowing Clarient to assess several intracellular processes simultaneously, quantify key markers and increase operational throughput.

“Enhancing our ability to deliver advanced quantitative analysis to tissue based diagnostics and to push these images in real time over the internet will further differentiate Clarient and strengthen the competitive positioning of [the company’s] Insight Dx program,” said CEO Ron Andrews.

In the past several years, Clarient has increased its focus on targeted therapy assessment. The company’s services include: diagnosing solid tumors, cancer sub-typing, classifying patients into prognostic categories (i.e. low, medium and high risk groups), identifying which drugs or therapy paths are best for patients, monitoring patient on therapy, searching for residual disease during and post therapy, and detecting relapse or cancer transformation.

Previously: Clarient Q2 Revenues Up 71%

29 September 2008 | Blog, Member Spotlight, news2 | Douglas Cress | No Comments