Medicrea's €20MM Financing to Support Patient-Specific UNiD Rods
Medicrea entered into agreements to raise €20MM (~US $22.4MM) to support further U.S. market penetration and commercialization in new ex-U.S. markets for UNiD™ Patient-Specific Rods.
Further, the company appointed Richard Kienzle, founding member and former Executive Vice President Global Sales and Marketing of Globus Medical, as its Chief Commercial Officer and Business Development Officer. Mr. Kienzle will also join Medicrea’s Board of Directors.
After its EU launch in 2Q14, the UNiD plaform received FDA 510(k) clearance in 4Q14, and was reportedly the 1st patient-specific spinal osteosynthesis rod to receive such clearance. A patient-specific cervical version was FDA-cleared in 2Q16. UNiD's software supports pre-op planning and production of custom spinal rods, and the system eliminates the need to manually contour a rod during surgery.
To date, Medicrea has collaborated in nearly 900 surgeries with UNiD rods and end-to-end analytical services.
Sources: Medicrea, ORTHOWORLD Inc.