In addition to the investment, the terms of which were not disclosed, the companies will enter into a co-development arrangement to discuss integrating Trice tech with Bioventus’ peripheral nerve stimulation products, StimRouter and TalisMann, as well as future offerings, according to a news release.
“Our investment will not only fund the ongoing growth of Trice, but also is expected to allow both companies to further validate the merits of a combination,” Chris Yamamoto, Bioventus senior vice president of business development and strategy, said in the news release.
Bioventus is leading the series D funding round and will gain exclusive sales and distribution rights to Trice products outside the U.S., the news release said.
Malvern, Penn.-based Trice develops products to treat conditions including tendinopathy, plantar fasciitis and carpal tunnel syndrome and to reduce recovery time, pain and scarring.
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 18–20 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
