On the heels of FDA approval of its new anti-spasticity drug Gablofen, CNS Therapeutics has raised $3 million in equity, according to documents filed with the Securities and Exchange Commission.

Drug companies are rare in medical-device crazed Minnesota. Even more rare is a startup that can win approval from the Food and Drug Administration, given the cost and regulatory hurdles of pushing drugs to market, these days.So it’s heartening to see the FDA approval of Gablofen (who thinks of these names anyway?), a movement disorder [...]

Well, that was quick.In a bizarre twist, Lanx Inc., an orthopedics startup in Colorado, said that former Medtronic chief operating officer Michael DeMane is no longer its CEO and chairman, less than a month after naming him to those positions.“Michael DeMane has declined to assume the role of chairman and chief executive officer and will [...]

Michael DeMane is finally a CEO.The former chief operating officer at Medtronic Inc. (NYSE: MDT), once thought to be a top candidate to lead the world’s largest medical device firm, recently joined Lanx Inc. as chairman and CEO.The company, based in Broomfield, Colo., makes devices for spinal surgeries. Investors include Chicago Growth Partners, Goldman Sachs [...]

Affinity’s fund is not tied to a specific incubator, which means the firm will cast a larger net for start-ups. Given its history of investing exclusively in late stage companies, Affinity’s move could provide Minnesota’s early stage entrepreneurs a real shot in the arm.

The Minnesota Medical Device Alliance Steering Committee, made up of some of the state’s most prominent investors, attorneys and executives, is hosting a meeting in February to discuss ways to push back against critics of the 510(k) program.

Previous investors InterWest Partners and Thomas McNerney Partners led the round. The company raised $6 million last year, according to filing with the Securities and Exchange Commission.

AxioMed Spine Corp. said Tuesday it has received Europe’s CE Marking — much like Food and Drug Administration market clearance in the United States — to introduce its disc replacement for the lower spine to the 27 countries that belong to the European Union. It’s the first market clearance for Freedom — one of a small group of next-generation spinal disc replacements designed to function more like the natural spine.