From Glytec partnering to beat diabetes to Biolase, Gramercy Extremity Orthopedics and more getting FDA clearances, here are 7 recent medtech stories we missed this week, but were still worth mentioning.
1. BioTime proposes public offering of common stock
Clinical-stage biotechnology company BioTech is intending to offer common stock shares in an underwritten public offering. BioTime focuses on developing and commercializing products that address degenerative diseases. It expects to offer a 30-day option to purchase up to an additional 15% of the number of shares of the common stock to underwriters. The net proceeds from the offering will go toward funding clinical trials of products in development, financing research and development programs and general working capital. Raymond James and Associates will be the sole book-running manager of the offerings.
2. Glytec inks deal with N.C. hospital system for diabetes management
Winston-Salem, N.C.–based Novant Health has partnered with Glytec to offer clinicians a set of tools and technologies to fully adopt basal-bolus insulin therapy in medical centers across the U.S. Glytec’s eGlycemic Management System (eGMS) will be in all 14 of Novant Health’s medical centers throughout North Carolina and Virginia, delivering personalized care to patients. The health systems will use the GlucoSurvelliance module of the eGMS to speed up early identification and administer insulin therapy for hospitalized patients.
3. FDA clears Bioness L300 Go rehab device
The FDA recently cleared the L300 Go System by Bioness for ankle dorsiflexion in adults and pediatric patients with foot drop or assist knee flexion. The L300 Go System is an improvement to Bioness’ previous systems, the NESS L300 Foot Drop System and NESS L300 Plus System. It is the first functional electrical stimulation system that offers 3D motion detection of gait events and muscle activation. It uses data from a 3-axis gyroscope and accelerometer and measures movement in all 3 kinetic plans. Stimulation is administered whenever it is needed during the gait cycle. The L300 Go also offers multi-channel stimulation that allows clinicians to control the amount of dorsiflexion and inversion/eversion the system transmits.