Highlights of the important and the interesting from the world of healthcare:
May ends with flurry of new venture dollars: Medtronic (NYSE: MDT) made the biggest investment during the month, putting $70 million in Israeli medical device company BioControl Medical. Also receiving fresh cash: Boston-based Tesaro secured $60 million in start-up funding; NOXXON Pharma of Germany closed a $40.7 million series D round; Lake Forest, California-based ReVision Optics landed $35 million; Massachusetts biotech NormOxys raised $17.5 million in series B financing; and another Massachusetts-based biotech, Logical Therapeutics, closed on a $16.9 million series C equity financing.
Pfizer stops patient recruitment for heart failure drug… It’s a good thing: Pfizer (NYSE: PFE) is to halt recruitment of patients to the EMPHASIS-HF trial testing Inspra for mild heart-failure patients because of the significant benefit of the drug. The trial was to involve 3,000 patients in 30 countries through October. Interim analysis showed (pdf) that patients treated with Inspra had a significant reduction in risk of cardiovascular death or heart failure hospitalization.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
It comes down to trusting a drug company: Dr. Richard Page, chairman of the department of medicine at the University of Wisconsin School of Medicine and Public Health, is taking heat for backing Multaq, a new drug to treat atrial fibrillation, without seeing raw data or analysis of clinical trials by its maker, Sanofi-Aventis (NYSE: SNY).
Tax credit for Nashville medical mart? Developers of a Nashville medical trade mart could get another tool to recruit tenants: A one-time tax credit that would help with relocation expenses.
No Red Flags Rule for small healthcare practices: Legislation introduced in the Senate would exempt a healthcare practice with 20 or fewer employees from the Federal Trade Commission’s Red Flags Rule, which requires organizations that extend credit to establish formal policies for detecting and preventing identity theft. The American Medical Association and two other medical associations have sued to keep physicians from being subject to the rule.
NVCA disappointed by potential tax shift: The National Venture Capital Association feels “profound disappointment” over a House vote that would shift some of the profits VCs make on successful investments from capital gains to ordinary income. No wonder. VCs could pay about $19 billion more in taxes over 10 years, if the measure succeeds.
