Here are five things to know:
1. Mr. Barry copied six of drug-coated balloon medical product manufacturer Lutonix’s secret design files in April 2015 before resigning the next day. He then became CEO of urology device company Urotronic, where he utilized the files and shared other Lutonix secrets, according to the plea agreement.
2. Urotronic, which wasn’t aware of Mr. Barry’s actions, promptly demanded his resignation.
3. He served as vice president of research and development at Lutonix from 2007 to 2015.
4. Mr. Barry will likely serve between 24 and 30 months in prison.
5. Lutonix and Urotronic sell similar drug coated balloon products for urethral stricture disease treatment.
A Urotronic statement said, “Urotronic’s product was developed before Mr. Barry was hired and Mr. Barry had no involvement in the development of the Urotronic technology.”
More articles on devices:
Mazor Q1 revenue jumps 83% with 12 Mazor X orders: 6 key notes
Conventus Orthopaedics raises $20M to fund Cage repair therapy — 4 takeaways
Dr. Jason Rosenberg offering new treatment for chronic pain — 4 points
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
