NLT SPINE Secures $5.7M in Funding
NLT SPINE (formerly know as NonLinear Technologies), a Kfar Saba, Israel- and Dedham, MA-based developer of Minimally Invasive Spine Surgery (MISS) products, has secured $5.7m in funding.
Backers include existing investors Accelmed and Peregrine Ventures.
The company intends to use the capital to develop its PROW LIF™ lumbar fusion product line and additional products, as well as expand its presence in the US market. NLT SPINE plans to officially launch its products in 2013.
This round brings the total amount raised by the company to date to $14.5m.
Led by CEO Didier Toubia, the company specializes in the development and marketing of Minimally Invasive Spinal Surgery (MISS) and percutaneous procedures for treating degenerative spinal conditions.
The cornerstone of the PROW LIF™ product line is the PROW FUSION™ Transforaminal-Lumbar Interbody Fusion (TLIF) device, which is intended for lumbar fusion procedures, which recently received 510(k) clearance from the U.S. Food and Drug Administration (FDA) and is currently available under limited release.
In addition to the funding, NLT SPINE has also appointed Tom Keegan, a seasoned executive in the medical device industry, as Vice President of Business Development and US Marketing.