Spine 21 is developing an electromechanical implant.
ProSeed Venture Capital Fund (TASE:PRSD) has invested $150,000 in a new medical devices portfolio company, Spine 21 Ltd., giving it a 5.36% stake in the company. Spine 21 is developing an electromechanical implant designed to alleviate leg and lumbar pain. The miniature implant can control the gap between vertebrae, thereby neutralizing the source of the pain.
ProSeed has an option to increase its investment in Spine 21, which, if exercised, will boost its stake in the start-up to 13.88%.
Published by Globes [online], Israel business news - www.globes-online.com - on August 13, 2008
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