A Medical Device Daily

EP MedSystems (West Berlin, New Jersey) has formed a development agreement with Royal Philips Electronics (Best, the Netherlands) as a part of its strategy to provide advanced products for the EP physician. Financial terms were not disclosed.

Reinhard Schmidt, president and CEO of EP Med-systems, called the agreement with Philips “the next step in providing expanded solutions to the EP physician. The initial features and products from this agreement are expected to be shown at the upcoming Heart Rhythm Society scientific sessions.”

Ronald Tabaksblat, vice president and business director, electrophysiology, for Philips, said the accord supports Philips’ strategy to provide “a fully integrated EP lab solution.”

EP MedSystems develops EP products for diagnosing and treating cardiac rhythm disorders. Its products include the EP-WorkMate Electrophysiology Workstation, the EP-4 Computerized Cardiac Stimulator, fixed and deflectable diagnostic electrophysiology catheters, the Alert family of cardioversion catheters and the ViewMate ultrasound catheter imaging system.

In other financing activity:

• Interleukin Genetics (Waltham, Massachusetts) said it received a Clinical Laboratory Improvement Amendments certificate of registration for its DNA clinical laboratory and thus has received a $2 million pre-payment for genetic tests in accordance with a distribution agreement with Access Business Group International, an affiliate of Alticor (Ada, Michigan). Philip Reilly, MD, Interleukin CEO, called the funding important as the company prepares for product launch.

Interleukin develops risk assessment tests, pharmacogenetic tests, nutritional and therapeutic products based on genetic variations, its programs focusing on cardiovascular disease, osteoporosis, rheumatoid arthritis, endo-metriosis, periodontal disease and weight management.

• NovaMin Technology (NTI; Alachua, Florida), focused on proprietary oral health active ingredients, reported closing a $4.4 million financing round, its first institutional financing. The company said that the financing will be used to continue product development, is the company’s first institutional financing.

Intersouth Partners (Durham, North Carolina) led the Series B round, and Garheng Kong and Chris Hegele, both of Intersouth, will join the company’s board.

NTI is commercializing a material called NovaMin, an active ingredient for dental and oral care which the company describes as able to nourish teeth “with essential minerals in their rare ionic form and supercharging the natural tooth remineralization that keeps teeth healthy.” The company’s initial products are used for the treatment of tooth sensitivity, with future products addressing tooth decay and gum health.

The technology is based on a bioactive material used in an advanced bone regeneration material, NovaMin said, and was created with technology developed at and transferred from USBiomaterials and the University of Maryland (College Park, Maryland).

Chris Hegele of Intersouth Partners, said that NovaMin “has reached an inflection point and is poised for real growth as it identifies new opportunities over the next 18 months.”