B. Braun’s Aesculap division today invested $2.8 million into ApiFix’s $5 million Series B financing round to help support ApiFix’s minimally invasive, non-fusion spinal implant system designed to treat adolescent idiopathic scoliosis.
The ApiFix device, which won CE Mark clearance for use in the European Union in 2012, is designed to correct adolescent idiopathic scoliosis without the use of fusion to avoid the potential for loss of spine mobility, the company said.
“This round positions ApiFix for accelerated growth and brings B. Braun’s substantial experience to ApiFix’s board of directors. We look forward to B. Braun contributing to bringing ApiFix’s breakthrough scoliosis solution – and future products – to patients around the world,” Trendlines chair & CEO Todd Dollinger said in prepared remarks.
The round is slated to close by the end of 2016, according to B. Braun, and was joined by The Trendlines Group, which is the founding and largest investor in ApiFix.
“Our deep interest in innovation and in bringing disruptive products to patients and the medical community drives our internal R&D efforts and, as well, brings us to search the world for investment opportunities to achieve these same goals. Our investment in ApiFix, a Trendlines portfolio company, further cements the B. Braun / Trendlines collaboration effort,” Aesculap division CEO Dr. Hanns-Peter Knaebel said in a prepared statement.
The company touted that over 100 operations have been performed with the minimally invasive, non-fusion implant.
“Clinical experience with ApiFix’s non-fusion correction system for the treatment of scoliosis is growing. We have now completed more than 100 surgeries with overwhelmingly positive results. This funding round will support our FDA submission in the coming months and assist the expansion of our clinical and commercial activities in Europe,” ApiFix CEO Dr. Eran Feldhay said in a press release.
