SpineVision® SA and Norgine Ventures B.V. announced on September 6th they have entered into a definitive agreement under which Norgine Ventures acquired SpineVision
LONDON, Monday 3 November 2014, 07:00 AM GMT. Norgine Ventures today announced that it has provided financing of €4 million to SpineVision SA. The financing was realised in form of private bonds with warrants.
Norgine Ventures is a business entity of Norgine, a European specialist pharmaceutical company.
Norgine Ventures’ investment will help SpineVision finance development of innovative spine solutions and accelerate commercial expansion in the US.
SpineVision designs and commercialises implants and instrumentation for the treatment of spinal pathologies including lumbar degenerative disc diseases, deformities, cervical disorders, trauma and tumours.
As well as its established products for the treatment of scoliosis and cervical spine, SpineVision has developed a unique and highly innovative suite of products that enable dynamic stabilisation of spinal segments via a minimally invasive approach for degenerative pathologies. Dynamic stabilisation surgery is an alternative to fusion in spinal care. SpineVision is the only company offering a dynamic stabilisation system which can be implanted in a percutaneous approach with use of its Flex+2 and LUMIS innovative solutions.
Since inception in 1999, the company has raised significant private funding from investors including Omega Funds, Alto Invest, Partner Capital, IPSA, HealthCap and Sofinnova.
Today, SpineVision is commercialising its range of products, including pedicle screws such as P.L.U.S., UNI-Thread, U.L.I.S., interbody fusions systems, namely SpaceVision cages, and innovative spinal implants such as Flex+2 and LUMIS in Europe, the US and Latin America.
Peter Stein, Norgine Ventures CEO, said : “With our investment in SpineVision, we are supporting a dynamic healthcare company, which we believe can bring true innovation to spinal surgery, thus making a real improvement in the lives of many patients.” He added : “We are committed to funding innovative businesses which have the potential to transform the healthcare sector and provide economic value to patients, healthcare professionals and payors.”
Arnaud Brisard, SpineVision CEO, said : “Considering new market opportunities, this financing will help SpineVision to focus its efforts on dynamic stabilisation and disruptive innovative minimally invasive technologies with the objective to establish our products Flex+2 and LUMIS as golden standards on the degenerative market segment.” He added “This financing will also give us the possibility to reinforce and accelerate our market presence in the US while maintaining high quality of services.”
7 May, 2013
SpineVision® SA Raises $10m and Adds New Investors
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