Funding

Alphatec closed its underwritten public offering of ~12.5MM shares of common stock for $4.60/share, receiving gross proceeds of ~US $57.6MM.

Alphatec announced an underwritten public offering of 10.9MM shares of common stock at a price of USD $4.60/share. Net proceeds will support general corporate purposes.

Funding activity in 1H19 spanned all market segments of the orthopedic industry fairly evenly. We tracked 19 announcements, with spine representing five of those; joint replacement, trauma, sports medicine and orthobiologics each representing three and digital health/robotics representing two. We've found that much of the funding surrounds new technology. The list herein recaps 1H19 funding announcements and notes the amount of capital, when available, its intended use and the investor.

Panther Orthopedics closed a Series B financing and has expanded clinical use of its PUMA dynamic fixation system.

Fusion Robotics closed a financing round for an undisclosed sum. Proceeds will support regulatory clearance and future commercialization of the company's spinal robotics platform.

Royal Biologics, developer of products for regenerative medicine, received funding to support employee onboarding, operational growth, product development and acquisitions. 

InGeneron has extended its Series D financing to USD $43MM to bring regenerative cell therapy for rotator cuff tears into clinical use.

Catalyst OrthoScience raised US $12.7MM to support growth of its Catalyst CSR Total Shoulder.

ApiFix completed its Series B financing round and is preparing for U.S. commercial launch of its MID-C System to treat pediatric scoliosis.

HAPPE Spine received a second round of financing. The company is developing material technology that allows for the construction of partial or fully porous hydroxyapatite-reinforced PEEK implants.