U.S. Spine, a developer of innovative spinal implant
technology, today announced that it has secured $4.1 million to date
in funding from private investors and a major financial institution.
U.S. Spine has also completed the evaluation phase of its "Facet Gun," a revolutionary single-use, minimally-invasive facet fixation system and plans to launch the product in the Fourth Quarter of 2005. The Facet Gun will join the family of other FDA cleared products that the Company currently markets.
U.S. Spine also continues development of the Spartacus(TM) Lumbar Disc replacement device. Spartacus is a third generation artificial spinal disc characterized by a proprietary non linear fiber matrix for added endurance, strength and stability. It is believed that Spartacus will most closely replicate the natural motion and biomechanical properties of a human disc with improved wear characteristics over other elastomeric products currently in development. Clinical trials are scheduled to begin in 2006. The first generation device was cleared by the FDA in October of 2004, and is currently marketed by Johnson and Johnson (NYSE:JNJ).
Spinal implants represent the fastest growing segment of the orthopedic market, and it is widely anticipated that sales of artificial disc replacements will exceed $2 billion in the next five years.
Doris Blake, President of U.S. Spinal Technologies, said, "We are excited about the new technology in development and are also pleased to have the core products producing revenue, reducing our dependence on investment capital."
About U.S. Spinal Technologies, LLC d/b/a U.S. Spine: U.S. Spine is a privately funded company developing innovative spinal products in collaboration with leading surgeons and scientists. Founder Doris Blake, U.S. Spinal Technologies President, started the Boca Raton company in 2003 with the vision of "Advancing the Science of Spine" as it relates to the treatment of degenerative spinal disease.
U.S. Spine has also completed the evaluation phase of its "Facet Gun," a revolutionary single-use, minimally-invasive facet fixation system and plans to launch the product in the Fourth Quarter of 2005. The Facet Gun will join the family of other FDA cleared products that the Company currently markets.
U.S. Spine also continues development of the Spartacus(TM) Lumbar Disc replacement device. Spartacus is a third generation artificial spinal disc characterized by a proprietary non linear fiber matrix for added endurance, strength and stability. It is believed that Spartacus will most closely replicate the natural motion and biomechanical properties of a human disc with improved wear characteristics over other elastomeric products currently in development. Clinical trials are scheduled to begin in 2006. The first generation device was cleared by the FDA in October of 2004, and is currently marketed by Johnson and Johnson (NYSE:JNJ).
Spinal implants represent the fastest growing segment of the orthopedic market, and it is widely anticipated that sales of artificial disc replacements will exceed $2 billion in the next five years.
Doris Blake, President of U.S. Spinal Technologies, said, "We are excited about the new technology in development and are also pleased to have the core products producing revenue, reducing our dependence on investment capital."
About U.S. Spinal Technologies, LLC d/b/a U.S. Spine: U.S. Spine is a privately funded company developing innovative spinal products in collaboration with leading surgeons and scientists. Founder Doris Blake, U.S. Spinal Technologies President, started the Boca Raton company in 2003 with the vision of "Advancing the Science of Spine" as it relates to the treatment of degenerative spinal disease.
© 2005 Business Wire
