Medtech in a Minute: A Huge Merger Flop, a TAVR Breakthrough, and More
Illumina and PacBio called off a $1.2 billion merger after FTC ran interference, saying the pairing could create a monopoly in the next-generation sequencing market. Illumina will now pay PacBio a termination fee of $98 million.
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Breakthrough Device Designation Signals a Promising Year for TAVR
FDA granted JenaValve a breakthrough device designation for pericardial transcatheter aortic valve replacement (TAVR) system, signaling another promising year for the space. The designation is for severe aortic regurgitation (AR) and AR-dominant mixed aortic valve disease, a life-threatening and seriously debilitating condition, in patients at high risk for surgery.
If you're not already familiar with Zap Surgical's radiosurgical robot, now is a good time to change that. The company just raised $81 million to accelerate commercialization of the Zap-X, an integrated robotic software and hardware solution currently FDA-cleared to provide image-guided stereotactic radiosurgery for tumors, lesions and conditions in the brain, head, and neck. The robot's self-shielded design eliminates the need for costly radiation bunkers.