Intellirod Spine (formerly OrthoData Inc.), an Akron, OH-based spinal implant company developing disposable and implantable wireless RFID sensor technology for monitoring spinal rod strains, secured over $1m in additional equity financing.
Backers included the Queen City Angel First Fund V and JumpStart.
The company intends to use the funds to reach key milestones toward the commercialization of its sensor technologies and related lumbar fusion implants and pursue a de novo 510(k) at the FDA. It is simultaneously seeking a CE Mark for LOADPRO™, an intra-operative sensor for use in monitoring rod strain during kyphotic correction surgery.
Led by Ric Navarro, CEO, Intellirod Spine is developing a wireless implantable microelectronic spinal rod strain sensor which will allow spine surgeons to objectively assess the strain on implanted spinal fusion rods.
The company, which is recruiting patients for LOADPRO clinical studies at sites in Louisville, Kentucky, Columbus, Ohio and soon will add a third site in Cleveland, Ohio, has also completed its pre-clinical testing in support of an FDA application for ACCUVISTA™, its implantable version of the product.