KICVentures, a private investment firm focused on healthcare technology, reported four developments related to spinal motion preservation and biologics.
1. AxioMed — purchased by KICVentures in 2014, the device company completed a lumbar investigational device exemption study showing two-year and five-year data on its technology. The company also completed a pre-clinical study in Europe focused on a lateral lumbar disc, which it plans to launch in the U.S. along with an anterior disc next year. Looking forward, AxioMed will begin a cervical IDE study with indications for three-level procedures adjacent to fusion with K. Daniel Riew, MD, as designer of the multi-level protocol.
2. FacetMotion — the company, which KICVentures owns, offers technology that is based on a patent from Cleveland Clinic for posterior dynamic and facet stabilization. The company plans to achieve a CE Mark in 2020, and the technology will be offered with the anterior and lateral AxioMed Freedom Discs as a 360-degree solution to avoid fusion.
3. NanoFUSE Biologics — acquired in 2018, this KICVentures company combines bioactive class with demineralized bone matrix for an FDA-cleared solution. Surgeons have used the product in hundreds of orthopedic surgeries, and it's supported in pre-clinical animal studies. Over the next year, KICVentures plans to expand NanoFUSE, which is available to a growing group of surgeons.
4. Finances — KICVentures is raising $25million to bring products to market, using the funds to complete studies and grow revenues of these companies as well as SpineFrontier outside the U.S. KICVentures aims to reinvest revenue into the companies and raise funds from physicians; there is a $25,000 minimum.