JumpStart Invests $250,000 in OrthoData, Inc.
Company Developing Revolutionary Implantable Spine Fusion Sensor
CLEVELAND, March 28, 2013 /PRNewswire/ -- OrthoData, Inc. (www.orthodatainc.com), an Akron-based medical device company developing a novel diagnostic system for spine surgeons, has received a $250,000 investment commitment from Cleveland-based nonprofit venture development organization JumpStart Inc. (www.jumpstartinc.org). OrthoData's breakthrough implantable microelectronic spine fusion sensor, known as the IntelliRod™ system, enables surgeons to assess the success of spinal fusion procedures without exploratory surgery.
"Up to 30 percent of post-operative patients experience continuing pain," says OrthoData's President and CEO, Ric Navarro. Determining the cause of this pain—which can occur due to incomplete fusion of the vertebrae—often requires further surgery, slowing patients' recovery time. "OrthoData's IntelliRod™ system allows surgeons to track the outcome of the initial fusion surgery without invasive procedures and with less radiation exposure to the patient," Navarro says.
OrthoData's diagnostic system is more affordable than other methods used to assess post-operative progress, such as CT scans. In addition, the IntelliRod system is more quantifiable than imaging, as it provides objective postoperative measurement of the extent of spinal fusion.
"OrthoData's technology has the potential to transform the postoperative management of spine implant patients," says Michael Lang, JumpStart Venture Partner. "By providing early indication if the spine is or is not fusing, surgeons can intervene with alternative therapies sooner. In addition, OrthoData's solution can allow the patient to return to normal activities more quickly. The net effect is both better outcomes and reduced costs." OrthoData's solution could greatly benefit high-risk spinal fusion patients including diabetics, smokers and the elderly.
OrthoData plans to use the investment to complete prototype development and conduct relevant animal studies.
ORTHODATA, INC. OrthoData, Inc. is an Akron, Ohio-based medical device company developing the IntelliRod™ system, a breakthrough implantable spine fusion sensor. This innovative diagnostic system will enable spine surgeons to accurately assess the success of spinal fusion and eliminate the need for unnecessary exploratory surgery while accelerating patients' post-surgery recovery.
JUMPSTART INC. JumpStart accelerates the successes of diverse entrepreneurs, their companies and the ecosystems supporting them. The Cleveland-based nonprofit has given intensive business assistance to more than 440 entrepreneurial clients and invested in 71 early stage Northeast Ohio companies since 2004. For more information on the nonprofit development organization, visit www.jumpstartinc.org and follow @JumpStartInc on Twitter.
TO SHARE ON FACEBOOK, LINKEDIN OR TWITTER: Meet @jumpstartinc 71st portfolio co. OrthoData developing revolutionary implantable spine fusion sensor: http://j.mp/14w47YP #Akron
SOURCE JumpStart Inc.
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