SurModics buys Brookwood Pharma for up to $62M

SurModics, a publicly traded medical-device maker, agreed to acquire Birmingham, Ala.’s Brookwood Pharmaceuticals for $40 million in cash plus milestone payments of up to $22 million. Brookwood develops polymer-based drug formulations. Bloomberg has more here.

Heart monitor Monebo Tech raises funds

Monebo Technologies, an Austin, Tex., maker of cardiac-monitoring equipment, raised an undisclosed sum (PDF link) in a second funding round. Fairway Medical Technologies, a portfolio company of BCM Technologies, the venture capital subsidiary of Baylor College of Medicine, led the round.

TranS1 aims to relieve lower-back pain with $80.5M IPO

TranS1, a medical-device maker focused on lower-back pain, filed to raise $80.5 million in an IPO. The company makes and markets two products for minimally invasive lumbar spinal fusion, a technique in which surgeons fix, or fuse, two or more vertebrae together in order to minimize the pain from worn-out spinal discs.

Biotech venture funding takes a hit, but devices are hot

Venture-capital financing may be at a six-year high, but the picture in life sciences is a mixed one. After a blowout first quarter, second-quarter fundings in biotechnology actually dropped 19 percent, to $1.1 billion, compared to the same period last year, according to data from Dow Jones VentureOne and Ernst & Young. Medical-device investments, however, were on a tear, with VCs funneling more than $1 billion into the sector during the quarter — the highest total on record.

Ablation Frontiers raises $22M for treating arrythmia

Ablation Frontiers, a Carlsbad, Calif., developer of devices for treating irregular heartbeats known as cardiac arrythmias, raised $21.8 million in a third funding round. The Novartis Venture Fund led the round, joined by Affinity Ventures, Hexagon Investments, Trellis Health Ventures, Versant Ventures, Aberdare Ventures, and Pequot Ventures.

Satiety pulls in $30M for obesity device

Satiety, a Palo Alto, Calif., device maker focused on obesity, raised $30 million in a fourth round of funding. Skyline Ventures led the round, joined by HLM Venture Partners, Pinnacle Ventures, Venrock, Three Arch Partners, Morgenthaler Ventures and Thomas Fogarty.

NeoMend pulls together $6M for wound healing

NeoMend, an Irvine, Calif., biomaterials company focused on wound care, raised $6 million in a third funding round, VentureWire reports (subscription required). Investors included Prospect Venture Partners, Sanderling Ventures and other unidentified venture capitalists. Four million dollars in bridge loans from Prospect and Sanderling also converted into equity.

Stent maker CardioMind raises $33M

CardioMind, a secretive Sunnyvale, Calif., developer of stents designed to prop open blocked arteries, raised $33 million in a third round of funding, VentureWire reports (subscription required). From the VentureWire story:

Generic Medical Devices seeks $10M for, well, generic medical devices

Generic Medical Devices, a Gig Harbor, Wash., company that wants to do for medical devices what generic-drug makers did for pharmaceuticals, is seeking up to $10 million in a first institutional round, VentureWire reports (subscription required). The company, which has previously raised $1.5 million from individual investors, hopes to complete the round later this year.

Medical Carbon Research recapitalizes with $32M, renames itself

Medical Carbon Research Institute, a Austin, Tex., developer of mechanical heart valves, raised $32 million in debt, revenue interest and royalty conversion in a recapitalization that the company said eliminated most of its debt. MCRI also renamed itself after its leading product candidate, and will now be known as On-X Life Technologies.

Equipois seeks $1.5M for ergonomic devices

Equipois, a Los Angeles developer of assisted-support devices for the prevention of repetitive stress injury, is partway through raising a $1.5 million first round, VentureWire reports (subscription required). The company plans a larger $10 million round by the end of this year.

Neuromodulator Intelect Medical raises $7M for brain disorders

Intelect Medical, a Cleveland developer of neuromodulation devices for the treatment of brain injury, raised $7 million in a second funding round. The company is currently exploring ways of using deep-brain stimulation, in which implanted electrodes zap particular regions of the brain with calibrated jolts of electricity, in order to rehabilitate brains damaged by injury or stroke. DBS — which is sometimes described as a “pacemaker for the brain” — is currently approved for the treatment of Parkinson’s disease and various forms of tremor.

EndoVention raises $1.5M for clot-removing catheters

San Francisco’s EndoVention, a developer of catheters for use in blood-clot removal, raised $1.5 million of an expected $2.5 million first round, VentureWire reports (subscription required). Such catheters are flexible tubes that doctors can insert into blocked blood vessels in order to “vacuum out” clots, sometimes with the assistances of clot-dissolving drugs. EndoVention’s device has an “expandable mouth” to regulate the intake of clots.

Ultrasound clot-buster Ekos raises $10M in debt

Ekos, a Bothell, Wash., maker of ultrasound-enhanced drug-delivery systems, raised $10 million in debt capital from Hercules Technology Growth Capital. The financing will support the sales and marketing of drug-delivery catheters that feature an ultrasound system designed to help drugs break up blood clots more quickly. Ekos launched its catheters in early 2006.