Titan Spine Raises Capital for Interbody Fusion Devices (ODTMag)
Titan Spine, a medical device surface technology company focused on developing innovative surface-enhanced spinal interbody fusion implants, has announced that it has closed a substantial round of financing with investor Southlake Equity Group. Titan will use the proceeds to further expand U.S. sales growth and surgeon adoption of its Endoskeleton line of titanium interbody fusion implants and support the launch of its next generation nanoLOCK surface technology.
The raise closes two days following the announcement that the U.S. Centers for Medicare & Medicaid Services (CMS) has created a new code for nanotextured surface on an interbody fusion device, for which Titan Spine’s nanoLOCK is the only product approved for its use.
Peter Ullrich, M.D., chief executive officer of Titan Spine, commented, “We are thrilled to bring on board an investor that is equally as confident in the milestones we have achieved to date along with the near and long-term strategies and goals we have planned for the remainder of 2016 and beyond. Proceeds from this financing round will be dedicated to expanding our sales force in the U.S...
