Funding Activity in Orthopaedics and Spine

Transactions are presented alphabetically by name of company, and represent funding secured or planned-for.

Amendia raised $0.45MM of planned $5MM round
Products include Savannah MIS polyaxial pedicle screw, Phenix PEEK-OPTIMA cervical interbody device, Diamond anterior cervical plate

Ascendx Spine closed on a mixed financing of $4.8MM
Funds will support commercialization of the Ascendx system for vertebral compression fracture repair

Ascension Orthopedics raised $18.6MM of a planned $20.4MM round of funding
Company develops trauma products and implants for the extremities, was acquired by Integra


Atlas Spine
completed $3.5MM equity offering
Products include VERTEVIEW cervical plate, REBAR cervical spacer, APELO pedicle screw, STATURE PEEK spacer, TRUE POSITION pivoting spacer, BACK-PAK discectomy set

AxioMed Spine raised $0.5MM in state funding
Focusing on next-generation disc replacement for lumbar and cervical spine
Pursuing CE Mark to commercialize cervical disc in 2011

Bacterin secured $15MM credit facility
Funds will support working capital and M&A program

Benvenue Medical completed $35.5MM Series C financing round
Will support completion of the KAST trial (Kiva System as a Vertebral Augmentation Treatment – A Safety and Effectiveness Trial) and product commercialization initiatives in U.S., Europe

Carmell Therapeutics closed $2.4MM Series A financing
Will support pilot manufacturing facility and collection of early clinical validation data for products such as a bone putty and REPAIR Surgical Scaffold for rotator cuff and tendon injuries


ConforMIS launched $1.8MM offering of warrants to purchase Series D Preferred Stock or other equity securities, received $1.4MM state-funded loan
Proceeds will support expansion of the company’s supply chain and manufacturing presence.
Developing devices that transform traditional CT data into patient-specific implants and instrumentation

Core Essence Orthopaedics completed $11.5MM in Series B Financing
Will support commercialization of devices for soft tissue, skeletal repair

Dallen Medical raised $3.35MM of planned ~$4MM funding round
Will support development, pilot manufacture of Compressyn Band
Technology delivers fixation with compression in sternal closure, small/long bone, spinal, sports med applications

DFine raised ~$15MM of planned $26.5MM funding round
Funds will support clinical studies and launch of the Spinal Tumor Ablation with Radiofrequency system later this year and in early 2012, pipeline projects, sales, etc.

DGIMED ORTHO completed $2.1MM equity financing round; seeking additional $0.4MM
Commercializing system to assist in delivery and distal locking of long bone intramedullary implants

Doctors Research Group raised $7.7MM of planned $15MM financing
Products include bone screw, suture anchor, Kryptonite bone cement for cranial defects, etc.

Ellipse Technologies raised $17.6MM in Series C private equity financing
Will support commercialization of the MAGEC Spinal Deformity System and PRECICE Limb Lengthening System 

Flex Biomedical raised $0.86MM funding
Will support development of Flex Polymer, synthetic injectable therapy for osteoarthritis; plans to commence human clinicals in 2012
Ex-U.S. product launch could commence within 2 years

Graftys received €4MM (~US $5.3MM) in 3rd round of financing
Will support pilot clinical study for combination medical device to address osteoporosis, U.S. commercialization of bone void filler


HyperBranch Medical raised $1MM in equity financing
Developing Adherus Spinal Sealant, an adhesion barrier that provides a watertight seal to prevent cerebrospinal fluid leakage during dural repair

Intelligent Orthopaedics received £0.6MM (~US $1MM) investment
Will support product launch
Developed Staffordshire Orthopaedic Reduction Machine (STORM) and IOS flexible fixation

Interventional Spine raised $1.3MM of planned $4.6MM round of funding
Products include PERPOS systems and RENEW Interspinous allograft

LDR Holding/LDR Spine received $13MM financing
Will support ongoing Mobi-C cervical disc single and 2-level premarket applications

Mazor Robotics received $6.3MM investment/PIPE funding
Will support U.S. sales and marketing of surgical robotic guidance systems

MedShape Solutions awarded grant valued at aup to 1.5MM
Developing a compliant shape memory polymer device for meniscal repair 

MX Orthopedics raised $1MM in seed round of funding
Developing shape memory material for use in hip replacement devices

NeoStem received $1.7MM U.S. Department of Defense award
Will support investigation of VSEL Technology (Very Small Embryonic-Like stem cells) for bone building and regenerative effects in the treatment of osteoporosis

NuTech Spine raised $0.32MM of planned $1.5MM round of equity funding
Products include NuShield bioresorbable protective patch/membrane, NuFix facet antimigration dowel allograft derived from femur or tibia

NuVasive raised ~$40.5MM in equity funding

OrthoCor Medical received $1.5MM angel investment; seeking additional $3MM
Funds will support product commercialization in the U.S. and Asia, entrance into orthopaedic market
Developed OrthoCor Active Knee System to treat arthritis and joint pain with heat + electrotherapy


OrthoData
seeks to raise $7MM in series B investment
Will support testing of IntelliRod implantable electronic spine fusion sensor

OrthoPediatrics closed $20MM investment
Will provide working capital and support elimination of high interest debt, outstanding payables, etc.

 

 

 

OrthoSensor completed 21MM in Series B financing
Developed implants and analytic software designed to provide realtime data about implant placement, performance during and after surgery
Will be used in hip, knee, shoulder, spinal and trauma applications

Orthopaedic Synergy launched equity fundraising round of up to $9.5MM
Holding company for OMNIlife science, Enztec and Praxim: companies focus on design, manufacture and distribution of orthopaedic devices

OsteoGeneX received $1.4MM grant: $916,000 from angel investors, $500,000 equity match grant
Will support optimization of spinal fusion and fracture repair device development

Parcus Medical plans to raise $3.75MM from private sale of stock
Proceeds will support expansion of sports medicine products based on Parcus PEEK carbon fiber technology

Pivot Medical raised US $32MM in Series C financing. Funds will support commercial rollout of the Pivot Hip Arthroscopy System in the U.S. and Europe, as well as clinical research. (Source: Pivot Medical)

Ranier raised £3MM (~$4.7MM)
Will support commercialization of Cadisc-L lumbar disc in Europe, clinical trials of Cadisc-C cervical disc and launch of Cadisc-C in select European markets

Simpirica Spine closed a $22MM Series C round of venture funding
Will support European commercialization of the LimiFlex Spinal Stabilization System

Soft Tissue Regeneration received $0.75MM investment
Will support animal studies and European clinical trials in 9/12
Developing technology to treat anterior cruciate ligament injuries


SonicSurg Innovations closed initial equity offering of $1MM
Funds will support U.S. commercialization of Trigger Tome instrument for correction of trigger finger

Sonoma Orthopedic Products
closed $22.1MM of planned $25MM Series D round of funding
Funds supporting new product launches, expansion of U.S. sales network, clinical trials, acquisition of certain key assets of NovaLign Orthopaedics

Spinal Modulation completed $30MM Series D financing
Will support U.S. and ex-U.S. clinical trials of spinal cord stimulator

Spine Wave raised $17.5MM in new financing
Will support expansion of commercial operations and distribution, additional clinical trials of NuCore Injectable Nucleus

SpineGuard secured $6.2MM
Will support expansion of PediGuard platform for enhanced spinal screw placement

SpineVision raised $5MM
Will support market penetration of the minimally invasive LUMIS™ screw and the motion-preserving Flex+ hybrid rod

SpineVision raised $5MM from existing investors
Will support accelerated market penetration of minimally invasive LUMIS screw system and Flex+ motion-preservation hybrid-rod system

Tenex Health closed $5MM Series A financing
Will support product manufacturing, sales and marketing
Launched TX1 Tissue Removal System in 5/11, for use in tendons and other soft tissues with intended use in the elbow, knee, ankle, foot and shoulder

Titan Spine raised $2.6MM in funding round
Develops proprietary interbody fusion devices

Tornier completed initial public offering, raised ~$166MM

Vertiflex received $14MM equity placement, provision for additional $14MM investment
Will support development of Superion Interspinous Spacer, enrollment in Investigational Device Exemption trial

Sources: Company press releases, web sites, articles in the public domain, filings with the Securities and Exchange Commission