Israeli medical device company moves to Cleveland (Weekend Rounds)

A review of life science current events reported by MedCity News this week:

Israeli medical device firm IceCure picks Cleveland for U.S. headquarters. The company plans to open its U.S. headquarters at the Cleveland Clinic-led Global Cardiovascular Innovation Center campus on June 1, according to a statement from IceCure. The Israeli company has been connected to Northeast Ohio for a few years as a result of its business relationship with the Bridge Investment Fund, which has invested more than $1 million in IceCure since 2008.

Medtronic’s CoreValve demonstrates quality-of-life improvements. Medtronic announced Tuesday that its CoreValve System, designed to enable the replacement of a diseased aortic valve without open heart surgery, showed health improvements over a two-year period on patients implanted with the device. The two-year study involved 126 patients at nine centers in Europe and Canada. The Fridley, Minnesota company released the data at EuroPCR in Paris, France, an annual event that highlights the latest techniques, updates and breakthrough science in the cardiovascular field.

Hatteras Ventures will invest up to $30M into ‘Discovery.’ North Carolina venture capital firm Hatteras Venture Partners will use about 20 percent of an estimated $100 million to $150 million fourth fund to invest in seed-stage opportunities.

Cleveland Clinic spinoffs remain active: Renovo Neural is looking to help pharmaceutical companies create a better drug to treat multiple sclerosis, while Paris-based Arterial Remodeling Technologies plans to reveal for the first time details of the design of its polymer-based biodegradable stent.