MatOrtho Gains Funding to Support Growth

MatOrtho Gains Funding to Support Growth
Private investor clients of Connection Capital, the specialist private client investment business, have invested £6.7 million (~USD $9.4 million) in MatOrtho, to support its international growth and product development....

Viseon Closes $18 Million Financing

Viseon Closes $18 Million Financing
Viseon closed a USD $18 million Series B financing. Proceeds will support development and commercialization of the company's visualization and illumination technologies for minimally invasive spine surgery.

Embody Gains Additional Funding for ACL Repair

Embody Gains Additional Funding for ACL Repair
Embody is receiving a $2.5 million Phase II research award. Funds will support development and clinical assessment of collagen-based MICROBRACE™ ACL technology for anterior cruciate ligament repair.

Naviswiss Receives New Funding

Naviswiss Receives New Funding
Naviswiss closed a CHF 5 million (USD $5 million) round of private equity funding to support product development and entrance into new markets with its surgical navigation for joint replacement procedures.

Parvizi Surgical Innovation Invests in Hip Surgery Navigation

Parvizi Surgical Innovation Invests in Hip Surgery Navigation
Parvizi Surgical Innovation made a minority investment in Navbit, developer of a disposable, single-use surgical navigation system to support accurate positioning of the acetabular cup during hip replacement. 

Alphatec Closes Public Stock Offering

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

Orthopedic Funding Covers Breadth of Industry in 1H19

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.

Royal Biologics Gains Funding

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

ApiFix Completes Series B Financing

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 Announces Second Financing Round

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.

Graftys Completes Capital Raise for Expansion

Graftys completed a ‚¬4.1MM (~US $4.6MM) funding round. Proceeds will support commercialization of QuickSet cement and HBS injectable calcium phosphate bone graft substitute.

Magnesium Development Company Gains Funding

The Magnesium Development Company received an investment from the cultivate(MD) Capital Fund II. MDC is developing a resorbable magnesium alloy technology with application in numerous orthopedic implantable devices.

OSSIO Secures $22MM Financing

OSSIO closed a US $22MM equity financing that will support commercialization of OSSIOfiber bone pin technology.

Trice Medical Closes $18.3MM Financing Round

Trice Medical closed a US $18.3MM Series C Extension financing round. Funds will support worldwide commercialization of mi-eye 2 and mi-ultra minimally invasive orthopaedic diagnostic tools, as well as product development.

Rejoint Gains €3MM Grant

Rejoint received a €3MM grant to support commercialization of the personalized YourKnee total knee replacement system.

SpineEx Withdraws $17MM IPO

SpineEx, developer of an expandable device for minimally invasive lateral lumbar interbody fusion, withdrew its plans for a US $17MM initial public offering late in 4Q18.

Titan Spine Closes Funding Round

Titan Spine closed a round of Series B financing for an undisclosed amount. Proceeds will support product line additions, sales team expansion and accelerated R&D initiatives.

SI-BONE Closes Initial Public Offering

SI-BONE closed its previously-announced initial public offering of 8,280,000 shares of common stock, priced at US $15 per share. The company is now trading on Nasdaq with the ticker symbol SIBN.

SI-BONE Files for Proposed IPO

SI-BONE publicly filed for a proposed IPO, and applied to list on NASDAQ as SIBN. Proceeds will primarily support commercialization activities for the iFuse implant for treatment of SI joint dysfunction.

SpineEx Files for $17MM IPO

SpineEx filed to raise up to US $17MM in an initial public offering to support commercialization of spinal devices, including an expandable cage for lateral lumbar fusion.

MIACH Orthopaedics Secures $22.5 Million to Support ACL Implant

MIACH Orthopaedics completed US $22.5MM in financing to support manufacturing and continue clinical trials for the Bridge-Enhanced® ACL Repair (BEAR®) implant, designed to stimulate healing of torn anterior cruciate ligaments.

1H18 Funding Recap: Where’d They All Go?

Of the 10 companies that announced funding in the first half of the year, just four focus on traditional hardware. Others include biologics, artificial ligaments and software to support device customization.

Cerapedics Closes $22MM Financing

Cerapedics completed a US $22MM financing. Proceeds will support commercialization and a U.S. lumbar trial of i-FACTOR bone graft.

Artoss Completes $1MM Funding Round

Artoss completed a US $1MM funding round. Proceeds will support development of new NanoBone® bone graft products for the U.S. market, regulatory requirements and commercialization.

Vericel Prices $65MM Public Offering of Stock

Vericel, developer of MACI® autologous cultured chondrocytes for cartilage repair, priced its underwritten public offering of 5MM shares of common stock at $13/share.

Biorez Closes Financing, Prepares for Human Testing

Biorez closed a US $1.5MM funding and affirmed plans for 2019 launch of human clinical studies with a scaffold that may eliminate the need to harvest a patient's tendon for ACL reconstruction.

Simplify Medical Closes Financing Totaling $44 Million

Simplify Medical closed an additional US $23.3MM in a Series B financing, for a total $44.3MM raised. Funds will support ex-U.S. commercialization and U.S. clinical trials studying the Simplify® cervical disc.

Diamond Orthopedic Gains Funding for Faceted Bone Screw

Diamond Orthopedic closed a US $3.5MM seed round of equity funding. The company has exclusive rights to market FDA-cleared cortical, cancellous, headless compression and external fixation screws based on faceted threadform technology.

AxioMed Opens $10MM Funding Round

AxioMed opened a US $10MM second funding round to support its multi-level cervical disc IDE as well as expanded commercialization activity.

OrthoPediatrics Launches IPO

OrthoPediatrics launched its initial public offering of 4MM shares of common stock, with a proposed offering price of $12-$14/share.

OrthAlign Raises $10MM in Series D

OrthAlign raised US $10MM in a Series D financing round, to support development of partial knee and total hip applications for orthopaedic surgical navigation, commercialization activities, etc.

Viseon Spine Closes $5 Million Series A Financing

Viseon Spine closed a US $5.0MM Series A financing. The company is developing single-use, disposable visualization and illumination technologies for minimally invasive spine procedures.

DiscGenics Raises $14 Million for Injectable Cell Therapy

DiscGenics closed a US $14MM Series B financing. Funds will support regulatory approvals and manufacturing ramp-up for Phase III clinical and commercial production of its cell therapy for treatment of degenerative disc disease.

Intellirod Spine Acquires New Financing and IP

Intellirod Spine raised additional equity financing from new and existing investors to support the commercialization of sensor technologies and related lumbar fusion implants.

Medicrea Raises €13MM Through Private Placement

Medicrea raised €13.0MM (~US $14.5MM) in a private placement. Funds will support development of the UNiD™ Adaptive Spine Intelligence platform and commercialization of a new range of 3D-printed titanium interbody cages.

Trice Medical Closes $19MM Financing

Trice Medical closed a US $19.3MM Series C financing. Funds will support U.S. marketing and ex-U.S. regulatory approvals for the mi-eye2™ system.

Conventus Orthopaedics Raises $20MM

Conventus Orthopaedics completed a US $20MM equity financing. Funds will support commercialization of proximal humerus fracture repair technology and the development of the Conventus Cage™ intramedullary implant.

CartiHeal Raises $18.3 Million

CartiHeal closed a US $18.3MM financing round, supporting the recently-approved IDE clinical trial of the Agili-C™ implant.

Cerapedics Receives $20 Million Senior Debt Facility

Oxford Finance closed a US $20MM senior secured term loan with Cerapedics. Proceeds will support commercialization of i-FACTOR bone graft for ACDF and fund an FDA study on its application in TLIF.

Ortho Kinematics Closes $18.6 Million Series D Equity Financing

Ortho Kinematics closed a US $18.6MM Series D equity financing. Funds will support development and commercialization of Vertebral Motion Analysis technology for radiographic assessment of spinal instability and alignment.

Micro C Secures Seed Funding

Micro C secured US $0.7MM in seed funding. Proceeds will support 2Q17 milestones such as prototype build, testing, FDA submission and launch activities for its portable extremity imaging system. 

2016 Funding Recap

The majority of 2016 investments came in from venture firms, though Johnson & Johnson, Medtronic, Musculoskeletal Transplant Foundation and Orthofix also backed certain financing deals. Similar to recent years, the spine market was the largest target for funding.

Cartiva Secures $8.5MM Funding

Cartiva secured US $8.5MM in a Series E financing. Proceeds will support commercialization of the Synthetic Cartilage Implant for treatment of great toe arthritis.

ApiFix to Close $5MM Funding

By the end of 2016, ApiFix is slated to close a $5MM Series B funding round, in which Aesculap is investing $2.8MM.

BONESUPPORT Raises $37MM to Support Cerament

BONESUPPORT raised SEK 327MM (~US $37MM). Funds will support clinical data collection, product pipeline development and expansion of CERAMENT sales in existing and new markets.

KB Medical Closes Series B Financing

KB Medical raised CHF 2.5MM (~US $2.51MM) in a Series B Financing. Funds will support FDA clearance for the AQrate™ Robotic Assistance System V 1.2 for spinal surgery.

Relievant Medsystems Secures $36 Million for INTRACEPT

Relievant Medsystems secured US $36MM in equity financing. Proceeds will support clinical studies, portfolio expansion and commercialization of the INTRACEPT® Intraosseous Nerve Ablation System.

Histogenics Closes $30.0 Million Private Placement

Histogenics closed its previously-announced US $30.0MM private placement. Funds will support development of NeoCart® novel cartilage repair therapy, including completion of the ongoing Phase III clinical trial.

Spineart Secures Investment

Spineart secured a 30MM (~US $33MM) investment. Proceeds will support sales, geographical expansion in markets such as the U.S. and Europe and product development.

Histogenics Announces $30.0MM Private Placement

Histogenics seeks to raise ~US $30.0MM in a private placement. Net proceeds will support development of NeoCart® cartilage repair therapy, including completion of an ongoing Phase III clinical trial.

Lattice Biologics Raises $0.75MM in Private Placement

Lattice Biologics closed a private placement for gross proceeds of up to US $0.75MM to fund M&A and the acquisition of donors to support production of an amniotic fluid product for regenerative use. The novel regenerative therapeutic will target osteoarthritis, spine, sports-medicine, foot/ankle and other indications. 

Rotation Medical Completes $12MM Series B Financing

Rotation Medical completed a US $12MM Series B extension financing. Proceeds will support U.S. commercialization of its rotator cuff repair system, comprising a proprietary bioinductive implant and disposable instruments. 

Intellirod Spine Raises Over $1MM

Intellirod Spine raised >US $1.0MM in additional equity financing. Funds will be used to reach key milestones toward commercialization of sensor technologies and lumbar fusion implants. 

OrthoPediatrics Files for $75MM IPO

OrthoPediatrics filed to raise up to US $75MM in an initial public offering. The company plans to list on the NASDAQ under the symbol KIDS. Pricing terms were not disclosed.

MX Orthopedics Secures $0.75MM Accelerator Loan

MX Orthopedics was awarded a state-backed US $0.75MM Accelerator Loan. Funds will support commercialization of dynaMX™ superelastic orthopaedic fracture fixation implants.

Bone Solutions Receives $1.7MM in Funding

Bone Solutions closed a funding round for a total of >US $1.7MM, and affirmed an additional $1.65MM commitment from Next Health, its distribution partner.

Xtant Medical Awarded State Grants

Xtant Medical was awarded state grants totaling US $0.15MM to support growth at Bacterin's orthobiologic processing facility. 

Tyber Medical Awarded State Funding

Tyber Medical was awarded a US $362,500, ten-year loan from the Pennsylvania Industrial Development Authority to purchase equipment for in-house fabrication.

Nanovis Receives NIH Research Grant

Nanovis received an NIH grant supporting pre-clinical studies of FortiCore® deeply-porous interbody fusion devices, enhanced with nanotube technology. 

Ellipse Technologies Withdraws IPO

Ellipse Technologies withdrew its plans for a US $75MM initial public offering, filed in 4Q15, in light of its pending acquisition by NuVasive.

Benvenue Medical Secures $60 Million Financing

Benvenue Medical completed a US $60MM financing round. Proceeds will support U.S. commercialization of the Luna® 3D Interbody Fusion and the Kiva® Vertebral Compression Fracture Treatment systems.

Ortho Kinematics Raises $4 Million in Debt Financing

Ortho Kinematics closed US $4MM in debt financing. Funds will support global commercialization of the Vertebral Motion Analysis product for radiographic assessment of spinal motion and instability, as well as launch of new product features.

Bone Therapeutics Granted Additional EUR 2MM in Funding

Bone Therapeutics was granted an additional 2MM (~US $2.15MM) in non-dilutive funding, bringing the total non-dilutive funding received within 2015 to 5MM.