St. Jude Medical picks up Northstar assets
This article was originally published in The Gray Sheet
Executive Summary
St. Jude Medical acquires intellectual property and non-cash assets of failed neurotech device firm Northstar Neuroscience for $2 million June 8. Northstar makes the Renova cortical stimulation system, for which it was trying to gain approval for stroke and depression. The stroke trial did not meet its endpoints and the firm was unable to raise needed cash to continue with the depression indication (1"The Gray Sheet" Jan. 12, 2009, p. 15). The technology will add to St. Jude's established neuromodulation business, with a current emphasis on pain management, but a clinical trial focus on deep brain stimulation for movement disorders and depression