The Venture Codex

Participated · Equity · Dec 2016

OrthoSpace develops InSpace™, an orthopedic biodegradable balloon system used as a minimally invasive treatment for rotator cuff injuries. The device is marketed in Europe, Israel, Russia and Hong Kong, where about 10,000 balloons have been implanted. The procedure can be performed in an outpatient setting and is intended to reduce shoulder pain and improve range of motion. The company is led by CEO Itay Barnea. OrthoSpace is pursuing a US Investigational Device Exemption (IDE) FDA study and plans to expand commercial activities in Europe, South America and Asia. The recent financing is intended to support the IDE study, international commercial build-out and working capital. OrthoSpace provides InSpace, an orthopedic biodegradable balloon system designed to treat severe rotator cuff tears. The device is CE Marked and is commercialized in Europe and Israel. The company has been granted an Investigational Device Exemption (IDE) to initiate a pivotal human clinical study in the United States. Leadership includes CEO Itay Barnea and Co‑Founder and Medical Director Assaf Dekel MD. OrthoSpace recently completed a financing of undisclosed amount to support continued market adoption, its clinical study programs and entry into emerging markets. The company is based in Caesarea, Israel.

Participated · Series C · May 2016

OrthoAccel Technologies develops and sells AcceleDent®, an FDA-cleared Class II medical device designed to accelerate orthodontic treatment and reduce treatment-related discomfort. The device is available in more than 3,000 orthodontic locations in North America and nearly 800 international locations. The company is led by president and CEO Michael K. Lowe and maintains an EMEA office in Essen, Germany. OrthoAccel is focused on expanding sales and market penetration and is increasing its direct sales presence in Europe. To support growth, the company is adding 18 new sales representatives (nine dedicated to Europe) and plans to hire 30 additional employees across marketing, innovation, operations and clinical education. The recent financing is intended to fuel these commercial and operational expansion efforts. OrthoAccel Technologies develops, manufactures and markets AcceleDent, a noninvasive FDA-cleared, Class II clinical device that accelerates orthodontic tooth movement by applying gentle micropulses as a complement to existing orthodontic treatment. The company is led by president and CEO Michael K. Lowe and is based in Houston, Texas. AcceleDent is available in more than 2,000 orthodontic locations in the U.S. OrthoAccel plans to use new financing to expand its sales force and support growth. The company focuses on products to enhance dental care and orthodontic treatment and sells directly into orthodontic practices and channels. No revenue or other financial metrics were disclosed in the article. OrthoAccel Technologies is a Houston, Texas–based medical device company that manufactures AcceleDent®, an FDA-cleared Class II device that accelerates orthodontic tooth movement by applying micropulses as a complement to existing orthodontic treatment. Led by president and CEO Michael K. Lowe, the company completed a financing package totaling $9M. The package comprised a $5M equity financing with HealthpointCapital, S3 Ventures and other stockholders, plus a debt facility for up to $4M with Comerica Bank. OrthoAccel said it will use the proceeds to further grow its sales and marketing functions. Related news in the article notes the company raised $10M in growth capital in April 2012. OrthoAccel Technologies commercializes the AcceleDent™ system, a medical device designed to safely shorten treatment time for patients wearing braces and to complement existing orthodontic technologies including brackets and clear aligners. Founded in 2007 to commercialize research by Dr. Jeremy Mao of Columbia University, the company is led by CEO Mike Lowe and is based in Houston, TX. AcceleDent was introduced in the U.K., Australia, France, Italy and roughly a dozen other countries across 2010 and 2011. In November 2011 the company received FDA 510(k) clearance following a prospective, randomized, blinded clinical trial. OrthoAccel intends to use the new capital to support the U.S. launch of AcceleDent, with a formal launch planned for May at the American Association of Orthodontists annual conference in Honolulu. The company has existing investor S3 Ventures and will add new representation from lead investor HealthpointCapital Partners on its board.