Headquartered in Melsungen, Germany, B. Braun Medical joined forces with Israel-based Trendlines Group on an investment in ApiFix, a Trendlines portfolio company.
Here are four takeaways:
1. B. Braun took on a lead position in ApiFix's B round financing, with the company's Aesculap division investing $2.8 million in the $5 million round. The financing round is projected to close by the end of this year.
2. ApiFix is gaining traction in the scoliosis device market with the launch of its non-fusion spinal implant system to correct adolescent idiopathic scoliosis.
3. The market for ApiFix surpasses $1.15 billion globally, with ApiFix receiving the CE mark in 2012. Surgeons have used ApiFix in more than 100 operations.
4. B. Braun and Trendlines partnered last year, with the two companies working together on new investment opportunities as well as devising new products.
"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," said ApiFix CEO Eran Feldhay, MD. "This funding round will support our FDA submission in the coming months and assist the expansion of our clinical and commercial activities in Europe."