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: https://www.youtube.com/watch?v=8Pn9dlrTMNA and https://www.youtube.com/channel/UCvPLPheAOrplckoGviotA7w. 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."