Innovation, influence and business in America's medical cities.

Shares of BioSante Pharmaceuticals rose 10 percent after the company reported positive results from a clinical study of a leukemia vaccine.The Phase 2 trial showed that BioSante’s GVAX vaccine “may be able to reduce or eliminate” the last remaining cancer cells in patients who are suffering from chronic [...]

Abbott (NYSE:ABT) won PMA clearance from the Food & Drug Administration for its TECNIS Multifocal 1-Piece intraocular lens, which the federal watchdog approved for treating cataract patients.The Abbott Park, Ill.-based medical products conglomerate said the lens, which is implanted in the eye after the removal of the cataract-occluded natural lens, corrects presbyopia. That’s a condition [...]

On March 11, Chicago’s first startup demo day and conference will take place in the heart of downtown Chicago on the 12th floor of 200 S. Wacker Drive. midVentures25 has gathered 25 investor-ready startups from the Midwest to compete for over $10,000 in products and services from event organizers and partners.The 25 companies, chosen on merit for participation, will demo their products and services to over 500 members of the Midwest technology community. An expert panel of judges including Andrew Mason, founder and CEO of Groupon, and Chuck Templeton, founder of OpenTable, will choose the top five finalists to give 3-minute pitches to the entire audience. From the top five, one winner will be chosen by the judges.

BioSante Pharmaceuticals Inc. has received funding commitments totaling $18 million from two institutional investors.The company plans to use the proceeds to continue funding a Phase 3 clinical trial of LibiGel, a drug that treats under-active sexual desire in menopausal women. BioSante says it plans to seek approval from the U.S. Food and Drug Administration by [...]

Rise Health Inc. has raised $1.5 million in equity for its primary care physician support services, according to a document filed with the Securities and Exchange Commission. Seeking to help ease the burdens of the U.S. primary care shortage, Rise contracts with physicians to provide operational and clinical support services, such as assisting with patient care and data management.

Bain Capital Ventures, which has invested in Midwestern health care start-ups, has raised a $525 million fund, its first since 2007.

Pharos Innovations LLC has raised nearly $862,000 in equity for the company’s remote patient-monitoring technology. The company’s Tel-Assurance software guides patients through “targeted survey questions” through the phone or Web that are designed to inform providers of changes in patients’ health status.

The U.S. Food and Drug Administration is reportedly considering doing something it should’ve done a long time ago: adjusting serving sizes on food packaging to reflect the way Americans really eat. The agency is also toying with the idea of encouraging food companies to place nutrition labels on the front of packaging, though both moves disappointingly would be voluntary.

The FDA posted notice of a Class I recall of a hemodialysis system distributed by Baxter International Inc., warning that in extreme cases the machine’s defect could result in serious injuries or death.

Orthopedic device company Life Spine has received 510(k) clearance from the FDA for two spinal systems.