This week, we learned that the US FDA thinks Elon Musk’s Neuralink brain interface device isn’t ready for human trials.  Additionally, J&J cut about 300 medtech jobs, Stryker launched a knee implant, and Active Implants’ meniscus replacement device made it to the FDA’s advisory panel calendar. 

Active Implants announced the completion of patient enrollment in the VENUS randomized trial of the NUsurface meniscus implant for the treatment of persistent knee pain caused by injured or deteriorated meniscus tissue. Results of the VENUS and SUN trial, which has also completed enrollment, will support a de novo clearance from US FDA, which would make it the first artificial meniscus approved in the US. NUsurface already has a CE mark and the company is planning to start a limited commercial release outside the US in 2019.

Medtech companies brought in $2.3 billion in financing in Q1 2017, a slight decrease from Q4 2016; device M&A deals totaled $5.8 billion, a sharp decline from the prior quarter, but there were some billion-dollar deals. Q1 diagnostics financings – totaling $1.2 billion (thanks to a $900 million Series B round by cancer diagnostics company Grail) – showed a significant increase over the preceding quarter, as did the Q1 M&As at $700 million versus the previous $87 million.

Recent executive-level company changes and promotions in the biopharma, medical device and diagnostics industries.