Norgine Ventures completes €4 million financing with SpineVision SA
London. 3 November 2014, 07:00 AM BST. Norgine Ventures today announced that it has provided financing of €4 million to SpineVision SA. The financing was realised in form of private bonds with warrants.
Norgine Ventures is a business entity of Norgine, a European specialist pharmaceutical company.
Norgine Ventures’ investment will help SpineVision finance development of innovative spine solutions and accelerate commercial expansion in the US.
SpineVision designs and commercialises implants and instrumentation for the treatment of spinal pathologies including lumbar degenerative disc diseases, deformities, cervical disorders, trauma and tumours.
As well as its established products for the treatment of scoliosis and cervical spine, SpineVision has developed a unique and highly innovative suite of products that enable dynamic stabilisation of spinal segments via a minimally invasive approach for degenerative pathologies. Dynamic stabilisation surgery is an alternative to fusion in spinal care. SpineVision is the only company offering a dynamic stabilisation system which can be implanted in a percutaneous approach with use of its Flex+2 and LUMIS innovative solutions.
Since inception in 1999, the company has raised significant private funding from investors including Omega Funds, Alto Invest, Partner Capital, IPSA, HealthCap and Sofinnova.
Today, SpineVision is commercialising its range of products, including pedicle screws such as P.L.U.S., UNI-Thread, U.L.I.S., interbody fusions systems, namely SpaceVision cages, and innovative spinal implants such as Flex+2 and LUMIS in Europe, the US and Latin America.
Peter Stein, Norgine Ventures CEO, said: “With our investment in SpineVision, we are supporting a dynamic healthcare company, which we believe can bring true innovation to spinal surgery, thus making a real improvement in the lives of many patients.” He added: “We are committed to funding innovative businesses which have the potential to transform the healthcare sector and provide economic value to patients, healthcare professionals and payors.”.
Arnaud Brisard, SpineVision CEO, said : “Considering new market opportunities, this financing will help SpineVision to focus its efforts on dynamic stabilisation and disruptive innovative minimally invasive technologies with the objective to establish our products Flex+2 and LUMIS as golden standards on the degenerative market segment.” He added “This financing will also give us the possibility to reinforce and accelerate our market presence in the US while maintaining high quality of services.”.
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Notes to Editors
For further information please contact
Julien Michaux, Norgine Ventures, +44 1895826600, jmichaux@norgine.com
Media
Charlotte Andrews, Norgine Corporate Communications: Tel: +44 1895 453669, CAndrews2@norgine.com
About Norgine
Norgine is a European specialist pharmaceutical company that has been established for over 100 years. In 2013, Norgine’s total revenue was €274 million and the company employs over 1,000 people.
Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, payers and patients. Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth.
Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns an R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France.
For more information, please visit www.norgine.com
About Norgine Ventures
Norgine Ventures was started in 2012 to diversify Norgine’s activities and to foster innovation in the healthcare sector. Norgine Ventures provides debt and debt-like financing to innovative, fast growing companies in the fields of healthcare and life sciences, in Europe and the US. For more information: www.norgineventures.com
NORGINE and the sail logo are trademarks of the Norgine group of companies.
About SpineVision
SpineVision is a privately-owned integrated spinal technology company focused on the development and marketing of implants and instrumentation for spinal treatment. SpineVision current products offer easy solutions of treatment for approximately 90% of spinal pathologies i.e. lumbar degenerative disc diseases, deformities, cervical disorders, trauma and tumors. With its new generation products Flex+2 and LUMIS SpineVision is the only manufacturer offering a dynamic stabilisation system which can be used in a percutaneous approach. The Company is headquartered in Antony (south of Paris), France, and has subsidiaries in the USA, Italy, Belgium, Germany and UK.
For more information, please visit www.spinevision.net
