Stryker takes out rival Orthovita. Print E-mail
By Staff and Wire Reports   
Monday, 16 May 2011 18:51
Below is a look at some of the headlines for companies that made news in the healthcare sector on May 16, 2011.

Shares of Orthovita, Inc. (Nasdaq:VITA) soared today after the company announced that it has agreed to be acquired by medical technology maker Stryker Corporation (NYSE:SYK) for $3.85 per share in cash or approximately $316 million. Orthovita is a maker of proteins and other agents used during surgery to boost the body's healing process. Products include Vitoss bone grafts and Cortoss bone augmentation material and Vitagel, which is designed to reduce bleeding during surgery.
Shares of Orthovita jumped 40% or $1.10 to $3.83. Stryker added 48 cents to $63.76.

Also Monday:

Advanced Cell Technology, Inc. ("ACT"; OTCBB: ACTC), a leader in the field of regenerative medicine, announced today that the Casey Eye Institute (CEI) at Oregon Health & Science University (OHSU) in Portland, Ore., has received institutional review board (IRB) approval to be a site for its Phase 1/2 human clinical trial for Stargardt's Macular Dystrophy (SMD) using retinal pigment epithelial (RPE) cells derived from human embryonic stem cells (hESCs).

AtheroNova Inc. (OTCBB: AHRO) ("AtheroNova"), a biotech company focused on the research and development of compounds to regress atherosclerotic plaque, announced that Stephen J. Nicholls, MBBS, PhD, Medical Director of Intravascular Ultrasound and Angiography Core Laboratories at Cleveland Clinic and Clinical Director of the Cleveland Clinic Center for Cardiovascular Diagnostics and Prevention, has been named to the Company's Scientific Advisory Board.

Bio Lab Naturals, Inc. (PINKSHEETS: BLAB) issued a corporate update to shareholders to discuss recent Corporate actions.

Boston Scientific Corporation (NYSE:BSX) today announced long-term safety data from the Research in Severe Asthma (RISA) Trial, which demonstrated the maintenance of stable lung function and the absence of clinical complications over a five-year period in patients with severe refractory asthma treated with its Alair® Bronchial Thermoplasty System.  

Cardiac Network, Inc. (PINKSHEETS: CNWID) confirms the announcement made on May 9th, 2011 that a new Board of Directors had been voted in by a majority vote of the company's stockholders.

CNS Response, Inc. (OTCBB: CNSO) announced today that it is launching the Psychiatric EEG Evaluation Registry, or PEEROnline™, a cloud-based platform which allows physicians to exchange outcome data referenced to their patients' neurophysiology.

Codexis, Inc. (Nasdaq:CDXS) today announced the continued expansion of its collaboration with Teva Pharmaceutical Industries Ltd., the world's largest generic drug manufacturer.

CytoSorbents Corporation (OTCBB: CTSO), a critical care-focused therapeutic device company using blood purification to treat life-threatening illnesses, announced its financial results for the first quarter of fiscal 2011.

DuPont (NYSE:DD), through its wholly owned subsidiary DuPont Denmark Holding ApS, announced today that it has successfully completed its tender offer for all outstanding shares of common stock of Danisco for DKK 700 cash per share.

Healthnostics, Inc. (PINKSHEETS: HNSS)
announced Microfill Corporation, the Company's new machine manufacturing subsidiary. Microfill Corporation taps a lucrative market by capitalizing on the Company's state-of-the-art Microfill-2160 Fill-And-Seal technology.

InspireMD, Inc. (OTCBB: NSPR) ("Inspire" or the "Company"), the developer of the MGuard™ mesh protective stent system, will partake in the EuroPCR conference this week.

IntelGenx Corp. (TSX VENTURE:IGX) (OTCBB:IGXT) ("IntelGenx") today announced that it has submitted its reply to a Complete Response Letter issued in February 2010 by the U.S. Food and Drug Administration (FDA) after review of the New Drug Application (NDA) submission for its antidepressant CPI-300.

InterMune, Inc. (Nasdaq:ITMN) today announced that an oral presentation and a poster presentation related to the company's development program for pirfenidone in idiopathic pulmonary fibrosis (IPF) will be presented at the 2011 International Conference of the American Thoracic Society (ATS), being held in Denver May 13-18, 2011.

Isis Pharmaceuticals, Inc. (NASDAQ:ISIS) announced today that it has earned a $3 million payment from GlaxoSmithKline (NYSE:GSK) related to the initiation of a sixth program under its collaboration to discover and develop drugs to treat rare and infectious disease

announced today that findings from a new study published in the American Journal of Surgery demonstrate that noninvasive and continuous hemoglobin (SpHb®) monitoring correlates strongly with invasive laboratory hemoglobin testing and "can be beneficial in the operating room and critical care setting and may potentially decrease the invasiveness of both elective surgery and critical illness."

Medical Marijuana Inc (PINKSHEETS: MJNA) is proud to announce that CannaBANK™'s patent pending CBD (Cannabidiol) extraction process will allow for direct infusion of the health and wellness benefits providing CBD's into three new bottled water enhanced beverages.

Orthovita, Inc. (NASDAQ: VITA), a spine and orthopedic biosurgery company, announced today that it has agreed to be acquired by Stryker Corporation for $3.85/share in cash in a transaction that results in the largest single upfront payment for an orthobiologics company.

Pacira Pharmaceuticals, Inc., (Nasdaq:PCRX), an emerging specialty pharmaceutical company, today announced that positive results from its Phase 3 study evaluating EXPAREL™ in patients following hemorrhoidectomy will be presented at the 2011 American Society of Colon and Rectal Surgeons (ASCRS) Annual Scientific Meeting in Vancouver, British Columbia.

Palatin Technologies, Inc. (NYSE Amex:PTN), a biopharmaceutical company developing bremelanotide for sexual dysfunction indications and PL-3994 for acute asthma and other indications, today announced results for its third quarter ended March 31, 2011.

PROLOR Biotech, Inc. (NYSE Amex:PBTH), a clinical stage company developing next generation biobetter therapeutic proteins, today announced that company management will host an investor conference call and webcast on May 19, 2011 to review recently announced corporate developments, including the positive interim results from the company's Phase II trial of hGH-CTP, its long-acting version of human growth hormone.

SensiVida Medical Technologies Inc. (PINKSHEETS: SVMT), a developer and provider of digital diagnostic technologies and devices, announced today encouraging findings from a recent March 2011 survey of allergists on their reaction to the SensiVida Digital Allergy Test System.

Stellar Pharmaceuticals Inc. (OTCQB:SLXCF) ("Stellar" or "the Company"), a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today announced financial results for the quarter ended March 31, 2011.

Unilens Vision Inc. (OTCBB: UVIC) (TSX-V: UVI), which develops, licenses, manufactures, distributes and markets specialty contact lenses, today reported its operating results for the third quarter and first nine months of FY2011.

Wound Management Technologies, Inc., (OTCQB: WNDM | WNDM.PK) a leader in advanced wound care solutions, today announced that Pharma Tech International (PTI), a joint venture of its subsidiary BioPharma Management Technologies, has signed an annual $500,000 minimum sales agreement with Cure Hands, a company of international trade based in Saudi Arabia.

"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

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