Raising money for a medical device startup can be incredibly challenging, but serial entrepreneur Michael Berman financed his latest venture MikrobEX in a rather clever fashion.He wanted to raise $5 million and also take advantage of the Minnesota Angel Investment Tax Credit program. But the angel program puts a cap on the amount of money [...]

Neurostimulation company Checkpoint Surgical has raised a $1.7 million series B round of investment and expects to win European regulatory approval of its intraoperative device shortly.The Cleveland-area company will use the new funding to boost its U.S. sales and marketing staff, CEO Len Cosentino said.var page_count = “off”; [...]

The chief executive of what was touted as a $100 million investment fund aimed in part at Ohio medical device companies has been indicted for his alleged role in the failure of a suburban Cleveland credit union.The indictment of 43-year-old businessman Eddy Zai, who was charged with 34 counts related to more than $16 million [...]

Orasi Medical, a University of Minnesota software startup that was marketing its technology to drug companies,has closed its doors.That is an astonishing collapse for a company that had inked licensing deals with the pharma giants like Novartis, been named by Red Herring magazine to its list of Top 100 private companies globally and raised at [...]

Orthopedics medical device startup OrthoCor Medical is getting ready to hire at least two new sales and marketing people.The money will come from a $3 million angel financing round the company hopes to close in May, said CEO John Dinusson. OrthoCor filed its intent to raise $3 million in a regulatory filing in June.“We are [...]

The dry eye treatment developed by TearScience received 510(k) clearance last week, about seven months after the company’s novel medical device received its first marketing go-ahead from the U.S. Food and Drug Administration.While the speed at which regulators granted the second 510(k) clearance surprised TearScience CEO Tim Willis, he says the sequential filings were by [...]

That some academics don’t necessarily make good business executives is a well-worn fact. And it’s not uncommon that founders — researchers or otherwise — often step aside, or are sometimes jettisoned in the interest of the firm.But the question is how should founders behave when they are cut off from the company they created? Is [...]

Medical device design usually involves the use of computer-aided design and computer-aided manufacturing, or CAD/CAM environments. The process is long and iterative.Now, two professors at the University of Minnesota have come up with a 3-D visualization device that aims to revolutionize how medical devices are designed and tested, thereby shortening R&D cycles and the costs [...]

Sterilization products maker STERIS (NYSE:STE) reported that shipments of its System 1E sterilizer continue to fall below the company’s earlier projections.The Mentor, Ohio-based company now projects that it’ll ship 4,000 System 1E units in its fiscal 2012, which is scheduled to end on March 31, company executives said Tuesday in a conference call to discuss [...]

…we ask ourselves whether the small emerging med-tech company can achieve success (and funding) with a ’tons cheaper’ value proposition. In theory, any company starting fresh with design and manufacturing should be able to take advantage of Moore’s law in a way that the big guys with vast installed bases and capital investments can’t. The opportunity for success is there, but not every company or technology is cut out to win at price-cutting.