Company news: Chelsea Therapeutics, iHealthBiopharma Chelsea Therapeutics announced Tuesday it was clearing house and replacing its CEO. The shakeups include the resignation of founder, president and CEO Simon Pedder. VP Joseph Oliveto will step in as interim President and CEO. The company said in a statement that the changes will also include slashing headcount and evaluating “strategic options for the company.” The eight-year-old firm has also scuttled its pipeline and said it will be focusing on getting authorization for its drug Northera (droxidopa), a treatment for symptomatic neurogenic orthostatic hypotension.
The FDA granted 501(k) approval for iHealth's bluetooth blood pressure monitor, mobihealth reported Tuesday. The blood pressure device, which debuted at the June Pepcom Digital Experience, works in two ways: it uses a wrist wrap instead of a bicep wrap and channels the reading to an iHealth app that can be used with iOS devices. The monitor records heart rate, pulse waves and blood pressure numbers and can tally historical blood pressure readings.