People In Brief
This article was originally published in The Gray Sheet
Executive Summary
KCI/LifeCell: Biosurgical tissue repair unit, purchased by Kinetic Concepts in May for $1.7 billion, gets new leadership Aug. 27 with the appointment of Lisa Colleran to replace the resigning Paul Thomas as president. Thomas was CEO of LifeCell, which makes the AlloDerm and Strattice regenerative tissue matrices, prior to the KCI acquisition. Colleran moves up from her role as LifeCell senior VP of commercial operations. In conjunction with the announcement, wound closure firm KCI said the integration of LifeCell is "nearing completion.
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Financings In Brief
ReGen Biologics raises funds for Menaflex launch: U.S. launch of collagen knee cartilage repair implant in February will be supported in part by proceeds from a $10 million private placement of common stock, announced Jan. 21. The Hackensack, N.J., firm completed the first $7 million in funding on Jan. 16 and will raise $3 million more in a planned second stage, ReGen explains. The financing round was led by Sanderling Venture Partners. Menaflex gained 510(k) clearance in December (1"The Gray Sheet" Jan. 5, 2009, p. 24)
Financings In Brief
ReGen Biologics raises funds for Menaflex launch: U.S. launch of collagen knee cartilage repair implant in February will be supported in part by proceeds from a $10 million private placement of common stock, announced Jan. 21. The Hackensack, N.J., firm completed the first $7 million in funding on Jan. 16 and will raise $3 million more in a planned second stage, ReGen explains. The financing round was led by Sanderling Venture Partners. Menaflex gained 510(k) clearance in December (1"The Gray Sheet" Jan. 5, 2009, p. 24)
Financings In Brief
Abiomed acquires stake in cash-starved WorldHeart: Danvers, Mass., maker of circulatory support devices exercises its option to convert a previous $5 million loan to WorldHeart into 86 million common shares, representing 21.6% of WorldHeart's shares, Abiomed announces Aug. 1. The two firms also revised the terms of their ongoing distribution arrangement, agreeing that WorldHeart must negotiate with Abiomed before engaging any third-party distributors. Abiomed says it does not intend to acquire ownership of additional WorldHeart securities, but has offered clinical and sales assistance to the beleaguered firm (1"The Gray Sheet" Dec. 17, 2007, p. 12). Also on Aug. 1, WorldHeart announced completion of a $30 million private financing round. Subject to funding and regulatory approval, the Oakland, Calif., maker of ventricular assist devices aims to begin a pivotal trial this year for its Levacor rotary VAD. WorldHeart reported a net loss of $11.5 million on revenue of $636,000 for the quarter ended March 31. The firm is seeking a new chief financial officer to replace David Pellone, who resigned July 1