Synaptive Medical said today that it inked a co-marketing deal with Stryker (NYSE:SYK) for its Modus V digital microscope as it begins a strategic commercial expansion into the spinal surgery market.
The Modus V is a robotically controlled digital microscope used as part of Synaptive’s BrightMatter surgical suite designed for less invasive, patient-specific approaches in complex cranial procedures. The Modus V provides similar services for minimally invasive spinal procedures, according to a news release. It was added to the BrightMatter platform in 2017.
The microscope has a robotic arm designed to move based on positions of tracked surgical instruments, allowing surgeons to operate without having to adjust the microscope.
Toronto-based Synaptive’s agreement with Stryker is an expansion of an existing co-marketing agreement that was originally focused on BrightMatter Plan surgical planning technology. The latest agreement adds access to the Modus V for visualization in minimally invasive spinal procedures.
Synaptive announced in April that it raised $5 million in a round of debt and options financing, but did not disclose how the funds would be used.
“Modus V lends significant assistance to surgeons as they approach complex procedures through minimally invasive approaches, which lead to faster recovery times and less trauma for patients,” Synaptive director of surgical product management Brad Fernald said in prepared remarks. “The combination of our technology with Stryker’s navigation, instruments and implants equips surgeons with the tools necessary to perform these complex procedures more efficiently and with greater confidence. Expanding our co-marketing agreement from BrightMatter Plan to include Modus V and our new version of auto-segmented tractography software, Modus Plan, allows our team to work with Stryker to make these tools available to a much broader audience of both cranial and spinal surgeons.”
“Since our inception, it has been our vision to provide world-class tools that streamline workflow and provide access to critical information, ultimately enabling surgeons to perform highly delicate procedures with greater ease and precision,” added Synaptive president & chief strategy officer Cameron Piron. “Modus V’s state-of-the-art optical and ergonomic features were designed to fulfill that vision and stand to address a natural transition and application in spine.”
Shares of SYK were up 0.2% at $216.19 per share in mid-afternoon trading today.
