PALM BEACH, Florida, December 7, 2017 /PRNewswire/ --
Global revenues for the medical device market are already a multi-billion dollar industry and the sector aims to continue its growth through leverage created through mergers and acquisitions, as well as the development of new products with improved efficiency. Increase in geriatric population and rise in number of patients suffering from chronic disorders, such as spine disorders, diabetes, and cardiovascular diseases, are expected to drive the market growth. In terms of application, the cardiovascular segment is expected to register the highest CAGR. The medical device sector as a whole has long been one of the more lucrative markets in the overall healthcare industry, as technology and research have propelled the market to new heights. With the rising influence of technology, the players in the medical device market are constantly diversifying and include some big tech names as of late. Active healthcare companies today with current developments include: Lexington Biosciences, Inc. (CSE: LNB) (OTC: LXGTF), Immunomedics Inc. (NASDAQ: IMMU), Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), BioTelemetry Inc. (NASDAQ: BEAT), VistaGen Therapeutics Inc. (NASDAQ: VTGN).
Lexington Biosciences, Inc. (CSE: LNB) (OTCQB: LXGTF) (the "Company" or "Lexington"), a development-stage medical device company, is pleased to announce entry into a strategic business relationship with a San Francisco arm of Navigant Consulting Inc., formerly Quorum Consulting. The intent of the relationship is to work with the relevant authorities towards developing a coverage policy in support of the planned commercial rollout of Lexington's HeartSentry endothelial function measurement product. Read this and more news for Lexington Biosciences at: http://www.marketnewsupdates.com/news/lxgtf.html
Navigant Consulting is a specialized professional services firm based in Chicago, Illinois. The company has nearly 50 offices across the United States, Canada, Europe, Middle East and Asia. Navigant recently acquired Quorum Consulting, a San Francisco based specialist service provider with extensive experience in the field of medical device reimbursement and health economics. Services include a proven ability to define strategic business opportunities and of influencing global coverage and payment policies. For more information, visit: http://www.navigant.com .
Lexington's President Eric Willis comments, "As recently announced, we are moving ahead quickly towards the commencement of our HeartSentry pilot clinical research study designed to build the foundational dataset ultimately aimed at supporting FDA clearance. As we plan for market entry, we know that a key element to commercial success will come from fielding a product that meets the threshold for medical insurance coverage. Regulatory approval rarely guarantees payment coverage for new devices, so we are undertaking what we believe is the prudent strategy of beginning that process today. We are delighted to have the opportunity to work with the Navigant team and feel certain the advice and direction we receive will prove invaluable towards providing HeartSentry the best strategy for market introduction."
In other healthcare industry news and market performance of note:
Immunomedics Inc. (NASDAQ: IMMU) closed up 13% on Wednesday at $10.21 on over 13.7 million shares traded by the market close and was also up in afterhours trading. The company announced that a blinded, independent review by an adjudication team of radiologists has determined an ORR of 31%, including six complete responses (CRs) and 28 partial responses (PRs), in 110 patients with mTNBC after receiving treatment with sacituzumab govitecan, the Company's lead investigational antibody-drug conjugate (ADC), in a Phase 2 study. The independent centrally-reviewed (ICR) median DOR was 9.1 months.
Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) closed up over 88% on Wednesday trading over 3.2 Million shares by the market close as was further up in afterhours trading. Madrigal Pharmaceuticals announced positive top-line results from a Phase 2 clinical trial in patients with biopsy-proven non-alcoholic steatohepatitis (NASH). In this trial, MGL-3196, a first-in-class, oral, once-daily, liver-directed, thyroid hormone receptor (THR) β -selective agonist, demonstrated statistically significant results for the primary endpoint, the percent change in hepatic fat versus placebo as measured by MRI-PDFF, a non-invasive imaging test. Recent published data have shown a high correlation of the reduction of liver fat of 30% or more as measured by MRI-PDFF to improvement in NASH on liver biopsy.
BioTelemetry Inc. (NASDAQ: BEAT) closed up on Wednesday at $26.80 by the market close and was also up slightly in afterhours trading. Last week, the company announced its Telcare division recently signed a partnership agreement with Onduo - a joint venture by Verily (an Alphabet company) and Sanofi. Per the agreement, Telcare will act as an authorized provider of remote blood glucose systems along with the resulting data for patients enrolled in diabetes management program of Onduo. We believe this deal will boost the top line significantly. Targeting Type 2 diabetes patients, Onduo will utilize Telcare's ability to deliver real-time blood glucose results to develop care management programs. Interestingly, BioTelemetry acquired Telcare in December 2016. Notably, Telcare is the first company to receive FDA clearance for a cellular-enabled Blood Glucose Monitoring (BGM) system. Per management, this acquisition will enable BioTelemetryto apply its expertise in remote monitoring to the diabetes market and also increase its presence in the digital population health management market. Read more here: https://finance.yahoo.com/news/biotelemetry-apos-beat-telcare-unit-144202944.html
VistaGen Therapeutics Inc. (NASDAQ: VTGN) closed up over 95% on Wednesday at $1.80 trading over 40.6 Million shares by the market close and was up over 5% in afterhours trading. VistaGen Therapeutics, a clinical-stage biopharmaceutical company focused on developing new generation medicines for depression and other central nervous system (CNS) disorders, announced the U.S. Patent and Trademark Office (USPTO) has issued U.S. Patent No. 9,834,801 related to certain methods of production for AV-101, VistaGen's lead CNS product candidate. "The issuance of this U.S. patent by the USPTO advances our intellectual property strategy for AV-101 at this vital period in its clinical development. This issued U.S. patent, in conjunction with the potential issuance of additional AV-101 patent applications currently under review worldwide, provides VistaGen with added long-term intellectual property protection for AV-101 and enhances its commercial potential," stated Shawn Singh, Chief Executive Officer of VistaGen.
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