Spineway signed a 5-year agreement with TINAVI Medical for distribution of spinal implants and instruments in China. TINAVI's TiRobot™ is reported to be the only surgical robot capable of performing surgery on all spinal regions.
The strategic partnership also includes a transaction that will give TINAVI priority rights on any future financial transaction that Spineway might initiate.
Spineway recently established U.S. operations and booked an initial US $2.0MM order from its U.S. partner, for delivery between the end of 2016 and early 2017. Spineway received its first FDA 510(k) clearances in 2Q15 for the Blue Mountain Cervical Plate and Mont Blanc Pedicle Fixation System.
Sources: Spineway; ORTHOWORLD Inc.