People Briefs: Owens & Minor, Laurimed, Xagenic, Intersect ENT
This article was originally published in The Gray Sheet
Owens & Minor launched a search to replace its retiring CEO; Laurimed named its new CEO; Xagenic hired a VP of product development; and Intersect ENT appointed a chief commercial officer.
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Following the lead of ENT start-ups like Acclarent and Entellus Medical, Intersect ENT Inc. is introducing a line of stent like implants capable of performing the same role drug-eluting stents played in interventional cardiology. Intersect’s implants provide moderate structural support to tissue that has been cut or dilated through FESS or balloon sinuplasty. But the principal function of the implant isn’t propping open nasal passageways but rather delivering drugs. A trio of clinical studies conducted by the company has found the released steroids produced statistically significant reductions in inflammation, polyp formation, and postoperative adhesions.
Guidant's Multi-Link Duet coronary stent garnered nearly half of the U.S. stent market in the third quarter of 1999, the company reported Oct. 14, pacing a 34% growth in the company's vascular intervention business to $290.1 mil.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.