MISGAV, Israel, July 23, 2018 /PRNewswire/ —
OrthoSpin Ltd. (“OrthoSpin”), a portfolio company of The Trendlines Group Ltd. (“Trendlines”) (SGX: 42T) (OTCQX: TRNLY), announced that it completed an investment round of $3 million for its smart, robotic external fixation system for orthopedic treatments. Johnson & Johnson Innovation – JJDC, Inc. (“JJDC”) led the investment round.
External fixation devices are a common treatment choice for bone lengthening, setting complex fractures, and correcting deformities. Patient compliance challenges and a lack of real-time feedback for physician follow-up present substantial challenges. Currently, effective treatment necessitates that patients manually adjust fixation devices on a daily basis, requiring complicated patient training. This often causes adjustment errors and non-compliance results in poor clinical outcomes.
The OrthoSpin system makes pre-programmed adjustments automatically and continuously – without the need for patient involvement. Integrated software enables physicians to chart patient progress, and, when required, immediately adjust treatment programs. The accurate OrthoSpin system eliminates the need for weekly follow-up and is generally expected to improve patient experience resulting from smaller incremental adjustments with reduced soft tissue damage.
“We are delighted to have this investment and support from JJDC, as we continue the development of OrthoSpin,” said Oren Cohen, CEO of OrthoSpin. “The funding will enable us to accelerate our development process and broaden our clinical trials. We are confident that this investment will be an important step in bringing OrthoSpin’s system to market.”
OrthoSpin was founded in December 2014, to offer a new robotic treatment system for use in orthopedics, specifically external fixation. OrthoSpin’s innovative system has the potential to change the outcomes of various orthopedic treatments, such as bone lengthening, setting complex fractures, and correcting deformities.
Trendlines is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfil its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. Trendlines’ shares are traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX International (OTCQX: TRNLY).
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SOURCE OrthoSpin Ltd. and The Trendlines Group Ltd.