A Medical Device Daily

NeuroVasx (Maple Grove, Minnesota) reported the completion of a private placement of common stock in the amount of $8.5 million with MJSK (Minneapolis) and the Stephens Group (Little Rock, Arkansas. Terms of the financing were not disclosed.

The company also reported completion of long term follow up on 20 patients treated with the cPAX aneurysm treatment system in a clinical study which was completed in May. The company said it intends to announce the results of the study at the 2008 International Stoke Conference in February.

“We are very pleased with the results we achieved in our clinical study. The long term follow-up data further supports the clinical effectiveness of cPAX,” said Eric Timko, president/CEO of NeuroVasx. “The company is eager to share the results of our study with the physician community.”

NeuroVasx is a development stage company dedicated to the development of unique catheter and implant technologies to treat acute stroke, aneurysms and other cerebrovascular disorders.

Harvard Bioscience (HBIO; Holliston, Massachusetts) reported that its board has authorized the repurchase by the company of up to $10 million of its common stock in the open market or through privately negotiated transactions over the next 24 months.

Under the program, shares may be repurchased from time to time and in such amounts as market conditions warrant, subject to regulatory considerations and any applicable contractual restrictions.

HBIO is a global developer of a broad range of specialized products, primarily scientific instruments and apparatus, used to advance life science research at pharmaceutical and biotechnology companies, universities and government laboratories worldwide.