Medical device maker Emphasys on the auction block
Emphasys Medical, maker of a valve that diverts air to only the healthy parts of lungs in emphysema patients, has put itself up for sale after the Food and Drug Administration rejected its lead product in December. This is the second relatively recent defeat for the Redwood City, Calif.-based company, which had to withdraw its IPO filing last May. Since then, all but five of its 50 employees have been laid off.
Founded in 2000, Emphasys… Continue Reading
Novalux: Walking corpse from 2000 finally finds grave
Silicon Valley’s Novalux, after eating through about $300 million in capital and debt from at least a dozen investors, has finally found a peaceful end.
The Sunnyvale, Calif. company, which initially wanted to sell laser technology to telecommunications companies building out fiber-optic networks, has been sold for $7 million in stock to electronics maker Arasor.
Novalux was one of those “walking dead” companies you heard about after the last Internet boom. It was founded in 1998. After… Continue Reading