Minimally invasive surgery spinal implant developer NLT Spine has raised $5.7 million from existing investors Accelmed and Peregrine Ventures. This brings the total funds raised by the company to $14.5 million.
The Kfar Saba based company reported that the investment from Moshe (Mori) Arkin and Dr. Uri Geiger's Accelmed and Peregrine will be used for the development of its PROW LIF lumbar fusion product line and other products, and to expand its presence in the US market.
NLT Spine was founded by Dr. Tzony Siegal.
NLT Spine products are based on its non-linear core technology, which allows for inserting large implants and instruments through a small incision. NLT Spine plans to officially launch its PROW LIF line and additional products in 2013. The cornerstone of the PROW LIF product line is the PROW FUSION PROW FUSION, which recently received clearance from the US Food and Drug Administration (FDA) and is currently available under limited release.
NLT Spine chairman Dr. Uri Geiger said, “NLT Spine has developed a promising technology platform for effectively performing a wide array of minimally invasive spine procedures.With a wide selection of solutions for a fast growing market and a strong portfolio of issued and pending patents, NLT Spine is positioned for a strong leadership in this market.”
Published by Globes, Israel business news - www.globes-online.com - on March 6, 2012
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