Anulex raises $3.8M for spinal-surgery device

Fresh off the launch of a next-generation version of its spinal-tissue repair device, Anulex Technologies has raised $3.8 million, according to a regulatory filing.

The funding comes in the form of debt and options, and was raised from 11 investors.

Last month, Anulex began marketing a new version of its Xclose tissue-repair device, whichuses small braided polyester bands to make an X-shaped stitch over openings in the soft tissue around the spine. The device is intended for use with patients who undergo surgery for herniated dics. The company says the device will keep a disc from reherniating while speeding the recovery process.

The first-generation iteration of the Xclose was cleared for U.S. use in general and orthopedic surgery in 2006. The device has been used in more than 7,300 procedures, according to the company.

The most recent cash infusion brings Anulex’s total funding to around $52 million since 2003. The company closed its fourthround of funding in June, pulling in $10.2 million from a number of investors.Affinity CapitalDelphi VenturesMB Venture PartnersNew Enterprise AssociatesSightLine Partners and Split Rock Partners participated in that round.

The company is also developing a device called the InClose, a meshimplantdesigned to provide a scaffold that aids in the regrowth of tissue after surgery.

An Anulex representative didn’t immediately return a call.

The company derives its name from the annulus, a term for the soft tissue that surrounds spinal discs.

Source: http://www.medcitynews.com/2010/03/anulex-raises-3-8m-for-spinal-surgery-device/


Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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