MISGAV, Israel and TUTTLINGEN, Germany, Nov. 28, 2016 /PRNewswire/ -- B. Braun Melsungen, The Trendlines Group and ApiFix jointly announced B. Braun's lead position in ApiFix's B round financing; ApiFix is a Trendlines portfolio company. B. Braun's Aesculap division invested $2.8 million in the $5 million round which is to close by end of 2016.
ApiFix is disrupting the scoliosis device market with its minimally invasive, non-fusion spinal implant system for the correction of Adolescent Idiopathic Scoliosis (AIS). Traditional surgical correction is a highly invasive procedure involving fusion, which results in a rigid spine and low patient quality of life. The ApiFix system is implanted in a minimally invasive procedure and does not require fusion, thus maintaining spine flexibility and high quality of life. The global market for ApiFix is over $1.15 billion. ApiFix received CE Mark in 2012 and is marketing its device in Europe. More than 100 operations have been performed with the ApiFix implant; first patients are now 4-years post-surgery. Clinical results and patient quality of life are excellent. ApiFix videos can be viewed at:
ApiFix CEO, Eran Feldhay M.D., remarked: "Clinical experience with ApiFix's non-fusion correction system for the treatment of scoliosis is growing. We have now completed more than 100 surgeries with overwhelmingly positive results. This funding round will support our FDA submission in the coming months and assist the expansion of our clinical and commercial activities in Europe."
ApiFix's founding investor and largest shareholder, The Trendlines Group, welcomed the B. Braun investment. Todd Dollinger, Trendlines' Chairman and CEO, who also serves as chairman of ApiFix, said: "This round positions ApiFix for accelerated growth and brings B. Braun's substantial experience to ApiFix's board of directors. We look forward to B. Braun contributing to bringing ApiFix's breakthrough scoliosis solution – and future products – to patients around the world."
B. Braun, one of the world's leading providers of healthcare solutions, began partnership activities with Trendlines in 2015. Trendlines and B. Braun have established mutual deal flow to identify potential new investment opportunities and are working together in the establishment of incubators and collaboration in the development of new technologies, solutions, and products. B. Braun invested approximately US$5 million in Trendlines as a cornerstone investor in Trendlines' 2015 initial public offering in Singapore. B. Braun and Trendlines have executed a memorandum of understanding for co-investment in Trendlines Medical Singapore, Trendlines' first incubator outside of Israel.
Prof. Dr. Hanns-Peter Knaebel, a member of the B. Braun Management Board and CEO of their Aesculap division, commented, "Our deep interest in innovation and in bringing disruptive products to patients and the medical community drives our internal R&D efforts and, as well, brings us to search the world for investment opportunities to achieve these same goals. Our investment in ApiFix, a Trendlines portfolio company, further cements the B. Braun / Trendlines collaboration effort."
About B. Braun
With over 56,000 employees in 64 countries, B. Braun is one of the world's leading manufacturers of medical devices and pharmaceutical products and services. Through constructive dialogue, B. Braun develops high quality product systems and services that are both evolving and progressive – and, in turn, improves people's health around the world. In 2015, the group generated sales of approximately €6.13 billion.
About The Trendlines Group
The Trendlines Group is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. The Trendlines Group is traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX (OTCQX: TRNLY).