Medivance Hopes D Financing Leads to Profitability

Medivance, a Louisville, CO, company that makes temperature-management devices, has completed a $23 million Series D financing. The money will be used to expand the market for the private company’s Arctic Sun Temperature Management System. Increased sales of the product, said CEO Robert Kline in a...

Trans1 Files for IPO

Trans1, a spinal-surgery device company based in Wilmington, NC, has filed to raise up to $80.5 million in an initial public offering of stock. The company, which hopes to be known as “TSON” on the Nasdaq exchange, did not reveal how many shares it would offer or how much it would charge. Founded...

NovaDel Pharma CEO Resigns

Jan Egberts has resigned as president and CEO of Flemington, NJ-based NovaDel Pharma. The company’s board has appointed its chairman, Steven Ratoff, to serve as interim chief while NovaDel initiates a search for a permanent replacement. NovaDel did not specify a reason for Egbert’s departure,...

Series D Round May Bring Cyntellect $23.4 Million

Cyntellect, a San Diego firm whose devices enable scientists to use live cells in research, has closed $15.1 million in venture funding. Under the terms of the Series D transaction, investors may choose to commit an additional $8.3 million, potentially bringing the total raised to $23.4 million. The company...

iWalk Unveils Computerized Prosthetic

iWalk, a Cambridge, MA, startup backed by Nicholas Negroponte, founder of the One Laptop per Child organization and one of the original investors in Wired magazine, has unveiled what it says is the world’s first robotic ankle. The device, called PowerFoot One, was created by a team of Massachusetts...

Investments in Midwest Startups Reach New Heights

Midwestern healthcare startups are going strong in 2007, on track to double the amount of funding raised last year. According to the just released BioEnterprise Midwest Health Care Venture Investment Report, young companies in the Midwest reported $726 million in total investments across 59 companies for the...

ev3–FoxHollow Merger Creates Endovascular Powerhouse

Two endovascular device companies, ev3 and FoxHollow Technologies, announced over the weekend a merger that would create a combined company with a $1.7 billion market cap. Plymouth, MN-based ev3 has offered to pay $780 million for FoxHollow, of Redwood City, CA, which represents a 20% premium to the 30-day...

Oncologix Suffers Setback, Seeks Capital

Oncologix Tech, of Suwanee, GA, has suffered a setback in the development of its lead product, a radiation device for treating soft-tissue cancers. Recent testing has revealed that Oncologix’s Oncosphere System is releasing radiation at a higher rate than anticipated, a discovery that the company...