Intellirod Spine (formerly known as OrthoData), an Akron, OH-based spinal implant company, secured additional equity financing.
New and existing investors participated in the round, whose amount was not disclosed.
The company intends to use the funds to reach key milestones toward the commercialization of its sensor technologies and related lumbar fusion implants.
Formed in 2008 by University of Louisville professors and Dr. Rolando Puno and led by CEO Ric Navarro, Intellirod develops disposable and implantable wireless RFID sensor technology for monitoring spinal rod strains. It recently completed its pre-clinical testing in support of an FDA application for ACCUVISTA™, its implantable version of the product targeted at monitoring post-operative strain in rods in degenerative disc disease fusion patients.