OrthoSpin raised USD $5 million in a Series B financing to support its robotic, digitally enabled external fixation system for orthopedic treatments. Johnson & Johnson Innovation – JJDC led the investment round with parent company Trendlines.
The company has completed initial clinical cases in the U.S. and Israel with the FDA-cleared first-generation OrthoSpin system, which makes pre-programmed adjustments automatically without the need for patient involvement. Integrated software allows physicians to chart patient progress and adjust treatment programs immediately. OrthoSpin potentially reduces or eliminates the need for in-person weekly follow-up.
"We are delighted to have this investment and support from JJDC and Trendlines as we continue the development of OrthoSpin's Gen 1 and Gen 2 systems," said Oren Cohen, CEO. "We continue to receive very promising feedback from physicians in the field regarding the Gen 1 system. The funding and close ongoing relationship with JJDC will enable us to accelerate Gen 2 product development and move into clinical use with the Gen 2 system later this year."