OrthoData raises $1.1 M round for spinal fusion monitor (July 2008)
Spine fusion device startup eyes Cleveland move, more funding (Brandon Glenn @ MedCityNews)
Website... http://www.intellirodspine.com/
A Louisville company that’s developing a medical device to help surgeons monitor the progress of spinal fusion surgeries is a eyeing a relocation to the Cleveland area.
OrthoData is hoping to attract some Northeast Ohio investors to help pave the way for the relocation. The company would also use a hoped-for $7 million series B round of investment to fund animal and human testing of its implantable electronic spine fusion sensor, said CEO Ric Navarro, a Northeast Ohio native who was previously an executive with Integra Spine.
Navarro says OrthoData’s technology is a more accurate and less costly means of assessing the success of spinal fusion surgeries compared with other current alternatives, typically CT scans or X-rays.
Use of OrthoData’s device would also eliminate the need for exploratory surgery on spinal fusion patients after their initial fusion procedures. Navarro says such exploratory surgeries occur in about 14 percent of spinal fusion patients.
Aside from the fundraise,...
