The Trendlines Group has again won the support of B. Braun Melsungen AG (“B. Braun”), one of the world's leading manufacturers of medical devices and pharmaceutical products and services.
|♦ B. Braun invested US$5 m in Trendlines as a cornerstone investor in Trendlines’ Nov 2015 IPO in Singapore.
♦ B. Braun and Trendlines have executed a MOU for co-investment in Trendlines Medical Singapore, Trendlines’ first incubator outside of Israel.
B.Braun's Aesculap division has invested US$2.8 million, as the lead investor, in the B round of financing of a Trendlines portfolio company, ApiFix.
Named "Best Start-Up 2012" by the Israeli Office of Chief Scientist, ApiFix seeks to raise US$5 million by end of 2016.
Prof. Dr. Hanns-Peter Knaebel, a member of the B. Braun Management Board and CEO of the Aesculap division, said: “Our deep interest in innovation and in bringing disruptive products to patients and the medical community drives our internal R&D efforts and, as well, brings us to search the world for investment opportunities to achieve these same goals. Our investment in ApiFix further cements B. Braun and Trendlines collaboration effort.”
| “This (fund-raising) 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.”
-- Todd Dollinger, Trendlines’ Chairman and CEO, who also serves as chairman of ApiFix.
(NextInsight file photo)
ApiFix is disrupting the scoliosis device market with its minimally invasive, non-fusion spinal implant system for the correction of Adolescent Idiopathic Scoliosis.
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 US$1.15 billion, said Trendlines.
ApiFix received CE Mark in 2012 and is marketing its device in Europe. More than 100 operations have been performed with it. First patients are now 4-years post-surgery. Clinical results and patient quality of life are excellent.
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.”
B. Braun, which employs over 56,000 people in 64 countries, began formal partnership activities with Trendlines in 2015, following collaboration that included the acquisition of the assets of one of Trendlines’ portfolio companies.
Trendlines and B. Braun have established mutual deal flow to identify potential new investment opportunities and are working together to establish incubators and collaborate in the development of new technologies, solutions, and products.
For more... see: TRENDLINES GROUP: Case study of a star start-up (ApiFix)
Watch: Video of ApiFix's disruptive innovation: