News

Weight-loss device maker Endosphere Ohio-bound (Weekend Rounds)

A virtual company in California, medical device maker Endosphere, is heading to Ohio to become a reality. And Cleveland, Ohio’s Endotronix Inc., which is developing wireless heart sensor technology licensed from NASA, has received a $250,000 investment.

Here were some of the top stories at MedCity News this week:

  • A virtual company in California, medical device maker Endosphere is heading to Ohio to become a reality. Endosphere, which has developed an implantable and incisionless weight-loss device, was lured to Ohio by the promise of investment dollars — and it doesn’t hurt that Executive Chairman and investor Chris Thorne has a home in New Albany, a suburb of Columbus.
  • Cleveland, Ohio’s Endotronix Inc., which is developing wireless heart sensor technology licensed from NASA, has received a $250,000 investment from economic development group JumpStart Ventures as part of an investment round of at least $650,000. Endotronix’s implantable technology interacts with an external, hand-held measurement instrument and allows congestive heart failure patients to remotely monitor their blood pressure.
  • Synapse Biomedical Inc. in Oberlin, Ohio, has received Humanitarian Use Device approval from the Food and Drug Administration for its NeuRx Diaphragm Pacing System in certain ALS patients. The approval is a step toward a full-blown Humanitarian Device Exemption under which the device that stimulates the diaphragm to contract — simulating a breathing motion — could be used to help amyotrophic lateral sclerosis patients stay off mechanical ventilators.
  • Thanks in large part to plugs from conservative radio talk show host Rush Limbaugh, Envoy Medical Corp. in White Bear Lake, Minnesota, recently raised another $16.4 million, including $10 million from hearing aid powerhouse Starkey Laboratories Inc., for its implantable hearing device, Esteem. After nearly 15 years, $105 million (make that $121.4 million), a name change and countless technical hiccups, Envoy investors can finally see the endgame.