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

West Lafayette, Indiana, biopharmaceutical company Endocyte Inc. hopes to raise more than $86 million from an initial public offering of stock. The company that develops small-molecule drug “conjugates” to treat cancer and inflammatory diseases would use offering proceeds to pay for clinical trials, repay debt and develop its drugs.

The Food & Drug Administration warned Biomet Inc. that its personalized knee implant planning offering, the Signature Personalized Patient Care system, lacks approval or clearance to be on the market in the United States.

SonarMed Inc. celebrated the biggest milestone in its nearly five-year history earlier this year when its breathing-tube-monitoring device was cleared by the U.S. Food and Drug Administration.Now it just needs to start selling the device, which is used for patients on ventilators. But before the company rolls it out, Indianapolis-based SonarMed wants to ensure that [...]

Cook Medical Group and Boston Scientific Corp. (NYSE:BSX) both got their start with catheter-based devices, but the medical device giants’ similarities don’t stop there. As Boston Scientific founder John Abele told MassDevice last month, his firm got its start in an unlikely place: the basement of a Catholic Church in Belmont, [...]

Zimmer Holdings Inc. (NYSE:ZMH) posted a 21 percent profit decline during the second quarter as it set aside $75 million to cover mounting legal claims over its Durom acetabular hip implant.The Warsaw, Ind.-based orthopedic device giant reported net earnings of $166 million, or 82 cents per diluted share, on sales of $1.06 billion during the [...]

Stealthy mass spectrometry company Perfinity Biosciences has raised $2.3 million in equity, just over a month after it pulled in nearly the same amount, according to regulatory filings.Perfinity was created as by West Lafayette, Indiana-based Quadraspec Inc., which makes DVD-like discs that can hold up to 272 biological samples and be analyzed by reading machines. [...]

Del Palma Orthopedics has raised $1.4 million in equity to develop devices and tools for hand surgeons, according to a regulatory filing.The company sells a procedure kit for surgeries for patients suffering from trigger finger, a painful condition in which a finger catches and sometimes locks in a bent position. The kit includes Del Palma’s [...]

PharmacoPhotonics Inc. has raised $1.5 million in equity to develop a device that measures kidney function, according to a regulatory filing with the Securities and Exchange Commission.The company’s device can provide a measure of the kidney’s function, or glomerular filtration rate (GFR), in 15 to 30 minutes, according to an earlier press release. Current methods [...]

When is Blue Chip Venture Co. not Blue Chip? When it’s Allos Ventures.Three principals from Blue Chip, the well-established early stage investing company in Cincinnati, opened for business as Allos Ventures in the Indianapolis area of Indiana about six weeks ago.By then, managing directors Don Aquilano and John McIlwraith, and director Dov Rosenberg had raised [...]

MedVentive revealed the names of two of the investors that took its over-subscribed Series C round to $10 million: Clarian Health Ventures and previous backer Core Capital Partners.The Waltham, Mass.-based healthcare information technology provider closed the C round in February, according to regulatory filings that, at the time, didn’t name the [...]