Life Sciences, deals, VC

Boston Scientific Invests in Intelect

Ryan McBride 11/12/08

Boston Scientific (NYSE:BSX), a Natick, MA-based medical devices firm, has led an equity round expected to total $11 milion to $13.5 million in Intelect Medical, a developer of an implantable neuromodulation system headquartered in Cleveland, Intelect reports in a statement. Intelect says, as part of the deal, it has granted Boston Scientific co-exclusive rights to its software under development to provide graphical information on electrical changes made by electrodes in the brain.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com.