SpineVision® Raises $5 Million (press release)
SpineVision announced today that it has raised $5 million from existing investors, one new investor, and Company management. The cash infusion will be used primarily to accelerate market penetration of the Company’s next-generation devices for spinal treatment: (1) the minimally invasive system LUMIS™ and (2) the motion-preservation hybrid-rod system Flex+™.
SpineVision’s investors included: Partner Capital, Sofinnova, BroadPeak, HealthCap, Innoven, Edbi and some individuals.
“We now have a focused and streamlined international operation that is steadfastly penetrating the market for minimally invasive and motion-preservation spinal therapies,” said Gérard Hascoët, Chairman and CEO of SpineVision. “Flex+™ is an ingenious dynamic-stabilization system that offers multiple stabilizing options in concert with our equally innovative minimally invasive screw system, LUMIS™. Key opinion leaders (KOLs) in spinal surgery are using Flex+™ with LUMIS™ in a variety of stages of the disc degeneration cascade for an optimal patient protection,” continued Hascoët.
“Indeed, sales are being driven by the fact that Flex+™ is designed to address not one, but two, critical needs of the motion-preservation market: (1) protection of the adjacent levels in a lumbar fusion and, (2) dynamic stabilization of the spine without fusion,” added Arnaud Brisard, COO of SpineVision.
Flex+™ Hybrid employs a unique technology enabling the combination of rigid and flexible parts in one low profile implant —the rigid section of the rod can be used to stabilize a vertebral segment requiring fusion, while the flexible section simultaneously provides dynamic stabilization. “As such, Flex+™ used in combination withLUMIS™ is a unique solution allowing to preempt pathologies at adjacent levels by protecting the adjacent discs, and to improve patient outcome by reducing the need for a large incision,” said Brisard.
About Flex+™ and LUMIS™
The top-loading, top-tightening design of LUMIS™, combined with its ability to accommodate both rigid and flexible rods, allows for unparalleled ease of use and high versatility. In addition, the low profiles of the Flex+TMrods developed by SpineVision® enable their use for lumbar degenerative spine treatments through a minimally invasive approach.
With the development of LUMIS™, SpineVision® now offers a comprehensive range of surgical options from rigid to dynamic constructs while improving patient outcomes by reducing the need for a large incision and muscle retraction that are required for conventional pedicle screw placement.
About SpineVision
SpineVision is a privately owned medical device company focused on the development and commercialization of innovative products for use in spinal surgery. The Company develops and markets a proprietary suite of implants addressing a wide range of spinal pathologies including deformity, cervical disorders, lumbar DDD and trauma. Because of market opportunity and the quality of its product lines, SpineVision decided in 2008 to focus its efforts on a new approach of fusion combining Dynamic Stabilization and Minimally Invasive Surgery. SpineVision enjoys very strong relationships with preeminent international spine surgeons and key opinion leaders. Their direct involvement in new product development, evaluation and promotion has ensured that the Company’s products feature innovative designs that serve to improve surgical techniques for physicians, clinical outcomes for patients and efficiencies for health care providers. The Company is headquartered in Paris, France, and has subsidiaries in the USA, Italy, UK and Belgium.