Magenta Medical Ltd. has raised $55 million to fast-track the development of the world’s smallest left ventricular assist device (LVAD). The financing round was led by Orbimed Private Investment LLC. With the participation of existing investors, New Enterprise Associates, Pitango VC Ltd. and Alive MS Ltd. “We will use this funding, in particular, to advance the clinical programs in the U.S. towards our first FDA approval,” David Israeli, CEO of Magenta Medical, told BioWorld.

Insulet Corp. once again broke records with a nearly 50% increase in Omnipod revenues in U.S. in the first quarter and a 32% increase in revenue from the tubeless insulin delivery device worldwide. In an unusual move following such positive quarterly results, the company simultaneously announced a major shake-up in the leadership team, with multiple senior members moving to new positions starting July 1. The latest round of musical chairs comes almost exactly a year after the last at the Insulet, when Founder, President and CEO Shacey Petrovic stepped down and Jim Hollingshead assumed the top spot.