Spinal | MassDevice

Intrinsic Therapeutics raises $18 million

February 26, 2010 by MassDevice staff

Woburn orthopedic device maker Intrinsic Therapeutics Inc. raises an $18 million funding round by selling a mix of equity, warrants and options.

Intrinsic Therapeutics Inc., a Woburn, Mass.-based spinal prosthesis maker, raised $18 million out of a $20 million offering, according to a regulatory filing with the federal Securities & Exchange Commission.

No new investors were listed on the filing, but previous investors New Enterprise Associates and Spray Ventures were listed as board members. Both firms have been with Intrinsic since their initial investment of $7.2 million in 2001.

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NuVasive reverses $27 million loss from 2008 on 48 percent jump in sales

February 26, 2010 by MassDevice staff

The San Diego-based spine company rides strong sales to turn a $5 million profit in 2009, beating internal guidance for the year with $370 million in sales and predicting more growth in 2010.

NuVasive Inc. (NSDQ:NUVA) rode a nearly 50 percent increase in 2009 sales to turn a $27 million loss in 2008 into a $5 million profit last year.

The San Diego-based company, which is developing what it calls "minimally disruptive" spine surgery techniques, said its sales for the three months ended Dec. 31, 2009, were $107 million, a 43 percent increase from the $75 million the company posted for the fourth quarter of 2008.

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MedCity News Q&A: SpineMatrix CEO Bill Christy

February 12, 2010 by MedCity News

Serial entrepreneur and SpineMatrix CEO William Christy on what attracted him to his latest venture.

By Mary Vanac

COPLEY TOWNSHIP, Ohio — Medical device company veteran William “Bill” Christy took the CEO’s spot at SpineMatrix Inc. in December.

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FDA clears a pair of Life Spine devices

January 28, 2010 by MedCity News

The Food & Drug Administration grants 510(k) clearance to a pair of devices made by Life Spine Inc. that are designed to reduce the length and complexity of spinal surgery procedures.

By Brandon Glenn

HOFFMAN ESTATES, Illinois — Orthopedic device maker Life Spine Inc. won 510(k) clearance from the Food & Drug Administration for two spinal systems.

Each of the systems uses what the company calls a “zero-step locking mechanism” and features designed to reduce the steps and complexity of surgical procedures, according to a press release.

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Analyst: Hip and knee replacement markets "stable to improving"

January 6, 2010 by MassDevice staff

Reading the tea leaves from Biomet Inc.'s quarterly results, Leerink-Swann analyst Rick Wise says the orthopedic industry's outlook is trending up.

An analyst at Leerink-Swann investment bank is bullish on the hip and knee markets, writing that they're in a "stable-to-improving mode" despite pricing pressures and a sluggish European economy.

In an email to investors, Leerink analyst Rick Wise said second-quarter earnings results at Warsaw, Ind.-based orthopedic device maker Biomet Inc. could be a harbinger for a steadily improving orthopedics market.

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Soteira emerges from stealth mode

November 13, 2009 by David Spenciner

The Natick, Mass.-based vertebroplasty firm reveals its technology at the 24th annual meeting of the North American Spine Society in San Francisco.

Soteira Inc. emerged from stealth mode at the 24th annual meeting of the North American Spine Society.

CEO Larry Jasinski and other representatives of the Natick, Mass.-based spine start-up showed a video describing their vertebroplasty system to conference attendees and publically parted with a few details of their technology:

Soteira has a cement-directing kyphoplasty system that uses a flexible cutting implement to make a central cavity in the vertebral body and then a stent-like flexible barrier to partially restrict the flow of bone cement.