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clearance . According to the 510 ( k ) summary document the lumbar facet device is substantially equivalent in indications , design principles , and performance to the PMT Facet Fixation System , Lumbar and the SurGenTec Ion Facet Screw System .
SC Medica , a company focused on facet fixation solutions based in Strasbourg , France , submitted the device for 510 ( k ) clearance . The device is the SC Medica FFX ® .
OTW spoke with SC Medica CEO and Founder Camille Srour , Ph . D . about the device . He commented , “ With over 10,000 implantations to date , the FFX device is currently the most widely used lumbar facet cage on the market . We are thrilled that U . S . patients can now benefit from this unique , minimally invasive technology .” — KD
Former Mazor Robotics VP Guilty of Insider Trading
Doron Tavlin , the former vice president of business development at Mazor Robotics , has been found guilty for his role in an insider trading conspiracy .
Mazor Robotics was a medical device company based in Israel focused on robotics for spinal procedures . In 2018 it was acquired by Medtronic , Inc ., a medical device company based in Ireland with executive headquarters in Minneapolis .
The conspiracy involved both Tavlin and his friend Afshin Farahan . In 2018 , based on information from the nonpublic acquisition negotiations , Tavlin , per the Department of Justice press release , “ tipped this information about the acquisition to his friend , Farahan , and instructed him to keep the information secret .”
During August 2018 and September 2018 , Farahan bought more than $ 1 million of Mazor stock . Farahan then sold all of the stock he had purchased the morning after the acquisition announcement . This “ resulted in a combined profit of over $ 500,000 for himself and one other individual .”
After the acquisition , the Financial Industry Regulatory Authority ( FINRA ) investigated certain trades of Mazor securities . Tavlin falsely responded to FINRA ’ s inquiry by “ denying that he recognized any names on a list of persons and entities that purchased Mazor securities , which included Farahan .”
Evidence at trial also showed an agreement between Tavlin and Farahan regarding the disclosure of the material , nonpublic information . In October 2019 , per that agreement , Farahan gave $ 25,000 to Tavlin for the information .
After a nine-day trial , Tavlin was found guilty of one count of conspiracy to commit insider trading and 10 counts of securities fraud and aiding and abetting securities fraud . Last year , Farahan pled guilty to one count of conspiracy to engage in insider trading . Sentencing hearings for Tavlin and Farahan will take place at a later time .
A third individual , David Gantman , also faced charges related to the conspiracy . Gantman was found not guilty for those charges . — KD
Source : Unsplash and Matthew Ansley
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