Update: 1:45 p.m.St. Paul, Minnesota-based public company Angeion Corp. made a surprising announcement this morning.CEO Phillip Smith is leaving the company after less than six months on the job. In a tersely worded statement, the company said Smith resigned after he and Angeion’s board reached a “mutual decision.” This is all the more strange given [...]

A British company is alleging that diversified conglomerate 3M Co. sabotaged a device that it sold to the St. Paul, Minnesota company in favor of bringing 3M’s own, more expensive solution to the market.Five years ago, the Porton Group sold 3M a potential breakthrough device called the BacLite, which uses a special fluorescent light to [...]

St. Paul-based Angeion Corp. named Rob Wolf its chief financial officer and Mark Gryzwa its vice president of engineering effective Monday.Wolf and Gryzwa will report to Phil Smith, the CEO of Angeion, the St. Paul, Minnesota company that makes noninvasive cardiorespiratory diagnostic systems.Wolf replaces Larry Degen, Angeion’s interim CFO, who will continue with the company [...]

St.Paul, Minnesota-based St. Jude Medical (NYSE:STJ) announced Wednesday that the Food & Drug Administration has approved a new pericardial aortic stented tissue valve — the Trifecta.In a statement, the company said that the Trifecta valve was designed to optimize the flow of blood through the valve and for long-term durability. To ensure the structural integrity [...]

CNS Therapeutics appointed Andy LaFrence as its chief financial officer, the company announced today. LaFrence, who has an extensive background in accounting, finance and management, was most recently an audit partner at KPMG LLP, an audit, tax and advisory services firm. LaFrence serves on the boards of directors for LifeScience Alley and University Enterprise Laboratories [...]

Envoy Medical Corp. is raising $6.5 million in equity, according to documents filed with the U.S. Securities and Exchange Commission.Envoy is the maker of Esteem, an implantable hearing device. Esteem was approved by the U.S. Food and Drug Administration in March 2010. The device, which is implanted behind the ear, requires invasive surgery and costs [...]

St. Jude Medical (NYSE:STJ) announced today that the U.S. Food and Drug Administration has approved two new irrigated ablation catheters that are used to treat cardiac arrhythmia. These include the Safire BLU and Therapy Cool Path bi-directional ablation catheters.The ablation catheters treat irregular heartbeats by delivering radio frequency (RF) energy to the cardiac tissue. The [...]

Andover Healthcare Inc. pulls its compression bandage system off the market in the face of a legal move by 3M Co. to enforce a recently won patent.3M Co. (NYSE:MMM) forced a compression bandage system made by Andover Healthcare Inc. off the market by threatening to seek a legal injunction barring sales of the product.The St. [...]

EnteroMedics (NASDAQ:ETRM) received the European CE Mark Certification for the Maestro RC System, the St. Paul, Minnesota company announced. The CE Mark, granted by the European Commission, is recognized by Australia and other nations.EnteroMedics previously announced its intention to target approval from regulatory bodies, local governments or agencies in other countries as part of its [...]

State Rep. Tim Mahoney, DFL-St. Paul, wants the state Legislature to pour millions of dollars into a state Science and Technology Authority created last year.