1. Israel OKs E-Qure’s BST device for chronic wounds
E-Qure Corp. announced this week that it received marketing approval for its Bio-electrical Signal Therapy Device (BST Device) from the Israeli Ministry of Health, according to a Feb. 24 news release. BST is an electrotherapeutic method for treating chronic wounds. E-Qure will begin marketing its device in Israel by activating a signed distribution agreement with Chemipal. The BST device is the first electrical device on the Israeli advanced wound care market. E-Qure will also start commercial activity in the private healthcare market and has already filed for BST treatment to be included in Israel’s approved National Health Basket.
2. Nexstim touts final results from Phase III trial
Nexstim recently presented the results of a multi-center Phase III trial for the company’s Navigated Brain Therapy system (NBT) for stroke rehabilitation, according to a Feb. 23 news release. The results were presented at the International Stroke Conference in Houston, Texas by the lead investigator, Richard L. Harvey, M.D. The results showed that the NBT was safe and had no serious adverse events related to using the device. There was also significant clinical improvement of upper extremity motor function. Other results showed that there was some significant improvement in an Action Research Arm Test, Wolf-Motor Function Test, Stroke Impact Scale, National Institute of Health Stroke Scale, Chedoke McMaster Stroke Assessment for Hand and Arm and the quality of life instrument ED-5Q. The data from the trial will be combined with data from the study to supplement its FDA 510(k) submission.
3. Underwriter adds $350K to Skyline Medical’s $2M round
Skyline Medical recently announced that Dawson James Securities, the underwriter of its public offering, purchased an additional 175,000 shares of common stock at the public offering price, according to a Feb. 22 news release. Dawson James Securities also intends to purchase an additional 35,000 shares of common stock at a price of $0.01 under Series D Warrant to cover over-allotments. The proceeds of this purchase totaled approximately $358,312 after underwriting discount deductions and commissions. Skyline Medical also recently came into full compliancewith the Nasdaq after it undertook a 1-for-25 reverse split of its stock last October.