June 8, 2017 | Blake Mossy
ASC BioSciences secured $1.5 million in a staged funding agreement with Stem Cell Development Fund LLC. The new capital will be used to support ASC’s intellectual property development and marketing efforts for its adult stem cell platform capable of forming nearly every tissue in the body.
Trice Medical secured $19.5 million in a Series C financing led by Smith & Nephew and existing investors Safeguard Scientifics, HealthQuest Capital, and BioStar Ventures. The new capital will be utilized to support the U.S. marketing and regulatory approvals for the company’s mi-eye2 product, a disposable needle with a wide-angle camera lens. Trice has designed the mi-eye 2 as an alternative to an MRI for diagnosing joint injuries.
Accelerant Venture announced an investment in AMB Surgical to support the company’s development of a prototype for its Flyte Automated Growing Rod for the treatment of juvenile scoliosis and traumatic injuries. The technology allows for electronic control of adjustable rods and allows for surgeons to perform remote, nonsurgical rod expansion through a microchip and RFID reader that power a gear box within the rod. The system also collects patient data, and offers real-time biomechanical stress and strain data.
Expanding Orthopedics received CE Mark approval for its FLXfit 15, an expanding interbody cage that allows for controlled lordosis correction of up to 15 degrees. The higher range expansion will enable surgeons to restore the lordosis angle while offering greater flexibility to patients with smaller anatomies.
Medovex Corporation received CE Mark clearance for its DenerveX System for the treatment of lower back pain associated with Facet Joint Syndrome. The system is comprised of a single-use device and power generator, and is designed to cut off the nerve supply and remove capsular tissue from the facet joint in a single procedure.
Bioventus announced that its surgical orthobiologics portfolio will now be offered by Premier, a network of 3,750 U.S. hospitals and 130,000 other provider organizations. The products Premier will offer from Bioventus include bone healing and spine fusion allograft bone, synthetic bone substitutes and cell and marrow extraction needles.
PRODUCT INTRODUCTION & UPDATE
Exactech announced the first surgery using its Equinoxe Preserve Humeral Stem System and ExactechGPS Shoulder Application, a shoulder treatment designed to preserve the humeral bone in shoulder replacement surgery. The system utilizes a polished distal tip to facilitate any need for removal, a straight lateral fin designed for greater rotational stability and a plasma coating to assist proximal fixation.
Stryker Orthopaedics announced the completion of 100,000 robotic-arm assisted joint replacement procedures performed using its Mako System for total knee, partial knee and total hip replacements. Mako utilizes CT-based 3D modeling of bone anatomy to create a personized surgical plan, implant size, orientation and alignment based on individual patient’s anatomy.
Creative Medical Technology filed a patent application covering technology suronding technolgoy surronding increased circulation around stem cell implantation sites to improve the effects of cellular theories. This expands upon the company’s current patent, which covers treatment of lower back pain of injecting stem cells into the muscles surrounding the lower back in order to stimulate new blood vessel formation.
Bone Therapeutics completed its recruitment of patients required for interim analysis Phase III trial for its PREOB autologous bone cell therapy for the treatment of osteonecrosis of the hip. The randomized, double-blind, placebo-controlled pivotal Phase III trial aims to evaluate the safety and efficacy of PREOB in early-stage osteonecrosis of the femoral head over a two-year period. Results from a one-year follow-up will determine if the study will continue or terminated prematurely.