April 23, 2019
BOSTON–(BUSINESS WIRE)–ApiFix Ltd., a leading motion-preservation scoliosis correction company, today announced completion of its Series B equity financing. A new US-based investor led the round with participation from existing shareholders.
“We are extremely pleased to have Palm Tree IV as our new partner leading this round of financing as we work toward FDA approval this year and prepare for US commercialization of our MID-C System,” said Paul Mraz, CEO for ApiFix Ltd. “It allows us to stay focused on our mission, which is to ‘change the lives of scoliosis patients forever.’”
“Significant clinical data from treating patients over the past seven years demonstrates the clinical benefits of our less-invasive, non-fusion deformity correction system,” said ApiFix co-founder and Chief Medical Officer, Yizhar Floman MD. “We are excited to be on the cusp of broadly introducing a game-changing, patient-friendly treatment into the lives thousands of children and their families.”
ApiFix’s Minimally Invasive Deformity Correction (MID-C) is a posterior dynamic deformity correction system that enables surgeons to perform a unique treatment providing permanent curve correction while retaining spine flexibility, all via a minimally invasive surgical approach. Patient recovery is relatively pain-free and is measured in days, not months. The MID-C system acts as an “internal brace” with a patented unidirectional, self-adjusting rod mechanism and motion-preserving polyaxial joints, allowing additional post-operative correction over time and is removable.
About ApiFix Ltd.
Founded in 2011, ApiFix Ltd. is a privately held medical device company based in Misgav, ISRAEL and Boston, Massachusetts, USA and is a portfolio company of The Trendlines Group Ltd. (SGX: 42T; OTCQX: TRNLY). ApiFix is a leading motion-preservation scoliosis correction company developing a unique platform technology that represents a disruptive approach to spine deformity treatment. ApiFix’s Minimally Invasive Deformity Correction (MID-C) system has CE Mark approval and is available in Europe, Israel, Singapore and Canada. More information is available at www.apifix.com.