ApiFix to Close $5MM Funding
ApiFix is slated to close a $5MM round of Series B funding by the end of 2016. Aesculap, a division of B. Braun, is investing $2.8MM in the round. Proceeds will support FDA submission and expansion of clinical and commercial activities in Europe.
The ApiFix® system for correction of Adolescent Idiopathic Scoliosis is CE Mark approved and has reached a 100-patient milestone that was announced in late 3Q16.
The minimally invasive ApiFix procedure does not require fusion. First patients who received the implant are now at four years post-op. In 2015, the company reported that results from 1- to 3-year follow-up in 50 adolescent scoliosis patients treated with ApiFix revealed substantial curve correction and no implant failure.
Sources: The Trendlines Group Ltd. and B. Braun; ORTHOWORLD Inc.