OrthoSpin Ltd., a Misgav, Israel-based provider of robotic, digitally enabled external fixation system for orthopedic treatments, raised US$5m in series B financing.
The round was led by Johnson & Johnson Innovation – JJDC, Inc., and The Trendlines Group Ltd. (SGX: 42T) (OTCQX: TRNLY).
The company intends to use the funds to accelerate Gen 2 product development and move into clinical use with the Gen 2 system later this year.
Led by Oren Cohen, CEO, Orthospin has developed a smart, robotic external fixation system for orthopedic treatments, , such as bone lengthening, setting complex fractures, and correcting deformities.
The company has completed initial clinical cases in the U.S. and Israel with the FDA-cleared OrthoSpin Generation 1 system, which makes pre-programmed adjustments automatically without the need for patient involvement. Integrated software enables physicians to chart patient progress, and, when required, immediately adjust treatment programs.