The Senate agriculture committee voted 20-1 this week to approve the Agriculture Improvement Act of 2018. "Setting sound, enforceable limits to farm safety net payments is a straightforward way to exercise fiscal responsibility and close loopholes that exploit the intent of farm programs that allow some non-farmers to game the system and take resources away from real, working farmers," said Sen. Chuck Grassley, R-Iowa, who cast the dissenting vote.
Allergan is looking to enter the Latina market to expand the use of its CoolSculpting fat-reducing treatment in a partnership with #WeAllGrow, a network of Latina influencers. The company expanded its marketing efforts this year to try to reach men.
Australian medtech company Sirtex Medical has accepted a $1.4 billion takeover bid from a consortium led by China's CDH Investments, which was 20% higher than Varian Medical Systems' offer. The deal is still subject to shareholder and regulatory approval.
A financing deal led by China-based Henan Maisheng Medical Technology and YuanMing Capital has brought in $150 million for Mevion Medical Systems. The money will be used for marketing its Hyperscan pencil-beam scanning technology and repaying its existing debt.
A private offering of 3% convertible notes due 2025 has been priced by K2M in hopes of raising $65 million. Net proceeds will be used as working capital, for inventor or continued distribution channel expansion, and for repayment of borrowings under the company's revolving credit facility.
A round of Series B financing has been closed by Palo Alto, Calif.-based Mindstrong Health at $15 million. The company, which offers an app for monitoring an individual's smartphone use to aid in the treatment of neurological conditions, will use the proceeds for the commercial advancement of its product through partnerships with biopharmaceutical companies and development of a clinical care business.
A round of Series B financing has pulled in an undisclosed amount of proceeds for Minneapolis-based Preceptis Medical, which makes the Hummingbird Tympanostomy Tube System. The proceeds will be used for the development of pipeline services and technologies, expansion of the company's commercial infrastructure and completion of an office study.
A partnership has been reached by TheraNova with incubator-accelerator UCSF Surgical Innovations to develop technology for addressing unmet needs of patients. The collaboration will enable TheraNova's product development capabilities and knowledge and UCSF's intellectual and clinical environment to be leveraged by both parties.
LivaNova has secured 510(k) clearance from the FDA for its MEMO 4D semirigid mitral annuloplasty ring, which is intended to treat patients with mitral regurgitation. The company has recorded the first implantation of the ring.
Halozyme CEO Helen Torley was among five winners of this year's San Diego Entrepreneur of the Year award. The winners are eligible for consideration for the national Entrepreneur of the Year award.