HOLLAND, Mich., April 11, 2019 /PRNewswire/ — Genesis Innovation Group and their cultivate(MD) Capital Fund I and cultivate(MD) Capital Fund II, LP, funds focused on investments into early stage healthcare companies with innovative technologies, announce their investments into Grand Rapids, MI based HAPPE Spine, a company with a unique fully porous, bioactive PEEK implant. This is the second round of financing for HAPPE in which Genesis and its cultivate(MD) Capital Funds have participated.
HAPPE Spine’s innovation began with Dr. Ryan K. Roeder at the University of Notre Dame who envisioned modifying PEEK to be both porous and bioactive to provide an optimal material for interbody spinal fusion. HAPPE’s implant solution marries these desired characteristics into a strong, bioactive, osteointegrative, and radiolucent material.
Doug Snell, Engineering Director at HAPPE Spine said, “HAPPE’s technology is commercializing a distinctive polymer technology. Our proprietary molding methods enable us to offer an implant material with fully interconnected porosity, including hydroxyapatite whisker exposure throughout the structure, allowing for the promotion of bony ingrowth onto and within the implant.” He added, “The manufacturing method enables the implant density or porosity to be advantageously varied to optimize both osteointegration and bio-mechanical loading.”
Dr. Ryan K. Roeder, inventor of the technology, said, “Our biomaterial and manufacturing technology has opened the door to new implant designs that surgeons quickly recognize as being intuitively advantageous but unlike anything else on the market. Excitement will continue to build in the year ahead with the release of our cervical implant and submission for regulatory approval.”
Matthew Milanowski , a HAPPE Spine board member said, “We are very excited to continue to innovate within the inter-body space and to work with our group of leading engineers and dedicated investors who are making a difference in this ever changing market. The continued support of our initial investors into this second round demonstrates their unwavering belief in the innovation taking place at HAPPE as we embark upon commercializing this new technology.”
About cultivate(MD) Capital Funds
As a medical device venture capital fund, cultivate(MD) is dedicated to bringing emerging health care innovations to market, with a special focus on medical device and orthopedic technologies. cultivate(MD) is focused on investing in early stage healthcare companies with innovative technologies that have demonstrated evidence of effectiveness.
This press release does not constitute an offer to sell or solicitation of an offer to buy any securities in any offering of securities. There will not be any sale of any securities in any state or jurisdiction in which such offering, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Certain Statements in this press release constitute forward-looking statements. When used in this press release, the words “will,” “anticipate,” and similar expressions or the negatives thereof are generally intended to identify forward-looking statements. Such forward-looking statements, including the intended actions and performance objectives of fund, its general partner, cultivate(MD) or any cultivate(MD) portfolio company referenced herein, involve known and unknown risks, uncertainties, and other important factors that could cause the actual results, performance, or achievements of the general partner, or any cultivate(MD) fund or portfolio company to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. No representation or warranty is made as to future performance or such forward-looking statements. All forward-looking statements in this press release speak only as of the date hereof. The fund, its general partner and cultivate(MD) expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectation with regard thereto or any change in events, conditions, or circumstances on which any such statement is based.