EQT Life Sciences Leads $42M funding round in Phagenesis

EQT Life Science

Phagenesis, a medical devices company, which specializes in the treatment of swallowing disorders, successfully closes a $42M Series D financing round led by EQT Life Sciences and co-led by Sectoral Asset Management.  

 

Amsterdam, The Netherlands, March 4, 2024 – EQT Life Sciences is pleased to announce  that the EQT Health Economics strategy has invested in Phagenesis, a pioneering UK-based  company that has developed a revolutionary neurostimulation system to treat swallowing  dysfunction. The $42M Series D financing was led by EQT Life Sciences and co-led by Sectoral, with new investors British Patient Capital, Northern Gritstone and Aphelion also joining the round. This substantial investment is a recognition of the transformative potential of Phagenesis’ cutting-edge therapy, Phagenyx®.
The Phagenyx® neurostimulation system targets and restores the neurological components of swallowing coordination and control that are disrupted due to brain injury, including stroke, or because of prolonged mechanical ventilation. Patients with swallowing dysfunction (dysphagia) are unable to safely or effectively eat, drink, or manage their own saliva. Dysphagia can often lead to life threatening complications such as pneumonia and is also associated with substantially higher healthcare costs.
With the recent approval of Phagenyx® by the FDA, the primary focus of this investment is to build commercial infrastructure and to execute a comprehensive and ambitious commercial growth strategy in the United States. The funding will also allow the Company to drive further commercial growth in Europe, deepening the already established business within that region. EQT Life Sciences has developed deep expertise in guiding MedTech, Digital Health and Diagnostics companies through initial commercialization and towards commercial scaling, and as such this investment represents an opportunity to contribute to the development of another top tier company. The funding will also support clinical trials, regulatory activities, as well as research and development of pipeline products.
Drew Burdon, Partner at EQT Life Sciences, said: “Dysphagia is a severe medical condition that  affects countless patients in hospital. It can increase hospital length of stay, the risk of complications, and lengthens recovery time. The Phagenyx® System demonstrates significant reductions in hospital length of stay, with a corresponding and substantial reduction in healthcare costs, as evidenced by  the Company’s strong portfolio of high-quality clinical studies. This is strongly aligned with EQT’s  Health Economics strategy of transforming cutting-edge scientific innovation into impactful and  cost-effective healthcare solutions. We‘re excited to support the next phase of Phagenesis’ journey.”
“This investment from a highly experienced international investor syndicate will accelerate access to  and adoption of our therapy,” said Reinhard Krickl, CEO of Phagenesis. “We will invest in  exceptional talent to scale up our customer outreach and to support passionate clinicians who want  to bring our therapy to those who need it. Our novel and proven therapy can help the millions of  patients every year who suffer from swallowing disorders.”

 

As part of this transaction, Drew Burdon, Michael Sjöström (Sectoral) and Mark Wyatt  (Northern Gritstone) will join the Phagenesis’ Board of Directors.

Contacts
EQT Press Office, press@eqtpartners.com

About EQT Life Sciences  

EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life  sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0  billion and supported the growth of more than 150 companies since it started to invest over  30 years ago. With a dedicated team of highly experienced investment professionals coming  from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs  entrepreneurs who have ideas that could truly make a difference for patients. The team  combines deep sector knowledge, analytical skills, and investment experience to provide the added value that entrepreneurs seek. For more information, go to eqtgroup.com/private capital/life-sciences/

About Phagenesis 

Phagenesis® Ltd, is a private MedTech company co-founded by Dr. Conor Mulrooney and  Professor Shaheen Hamdy from the University of Manchester in 2007. Phagenesis offers  innovative treatments for neurogenic dysphagia using pharyngeal electrical stimulation, PES.  The Phagenyx® Neurostimulation System is the result of years of rigorous scientific research,  initiated by Professor Hamdy, and has been featured in numerous clinical publications. For  additional information, visit phagenesis.com.

Categories: News

Tags:

Blackstone Life Sciences Announces Collaboration to Support Moderna’s Influenza Program

Blackstone

Blackstone Life Sciences to invest up to $750 million to support innovative mRNA technology

NEW YORK – Blackstone (NYSE:BX) announced today a new collaboration with Moderna, Inc. (NASDAQ: MRNA, “Moderna”) through a development and commercialization funding agreement where funds managed by Blackstone Life Sciences (“Blackstone”) will provide up to $750 million to fund Moderna’s influenza (“flu”) program.

“Moderna has demonstrated a remarkable ability to impact human health through mRNA vaccines targeting respiratory illnesses. This landmark collaboration is another example of our long-standing strategy to partner with the world’s leading life science companies to advance their critical path vaccines, medicines and medical technologies to patients,” said Nicholas Galakatos, Ph.D., Global Head of Blackstone Life Sciences.

“Moderna is advancing a broad and diverse pipeline at a pace not seen before in our industry,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Our goal is to launch multiple vaccine products in the next few years and deliver the greatest possible impact to people through mRNA medicines. Achieving this ambition requires substantial investment in late-stage studies and we are excited to welcome Blackstone and their innovative financing model.”

This new collaboration continues Blackstone Life Sciences’ work and support for many of the world’s leading and most innovative biopharmaceutical and medical technology companies. Blackstone seeks to provide customized financing solutions for companies across therapeutic areas to support mission critical scientific innovation and advance important products to patients.

About the Transaction
Under the terms of the agreement, funds managed by Blackstone Life Sciences will provide up to $750 million to fund Moderna’s flu program. If successful, BXLS will be eligible to receive milestones and royalties on resultant flu products. Moderna will recognize the funding as a reduction in research and development expenses and will retain full rights and control of the Company’s influenza program.

More information about Moderna’s flu program pipeline can be found in Moderna’s Vaccines Day press release – being announced concurrently this morning at: https://investors.modernatx.com/. Additional terms of the agreement were not disclosed.

About Blackstone Life Sciences
Blackstone Life Sciences is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines and medical technologies that improve patients’ lives and currently has more than $8 billion in assets under management.

Blackstone Contact
Paula Chirhart
Global Public Affairs
paula.chirhart@blackstone.com
(347) 463-5453

Categories: News

Tags:

Funding for TripleMed to achieve CE marking

Brightland Venture Partners

 


Solutions for better treatment of aortic aneurysms step closer

Geleen, March 21, 2024.

TripleMed BV is a medical startup focused on improving the treatment of aortic aneurysms. A consortium of existing and new investors has contributed more than two million euros to enable the clinical trials needed for CE marking and market launch. The aim is to achieve CE marking early in 2025. LIOF previously invested from the Limburg Business Development Fund (LBDF) and has now taken a stake in the company through the Participation Fund. Existing shareholder Brightlands Venture Partners (BVP) reinvested in TripleMed from its Chemelot Ventures fund.

Lenn Houbiers, investment manager at LIOF
: “The TripleMed solution will eventually lead to more efficient management of aortic aneurysms, better quality of life and lower healthcare costs. In doing so, TripleMed makes an important contribution to the health transition, one of the transitions on which LIOF is strongly focused.”

Solutions under development
TripleMed is currently conducting clinical studies at a number of hospitals in the Netherlands and Belgium to validate AneuFix Endoleak Repair (fixing a leak after aneurysm surgery) and AneuFill Prophylactic Sac Filling (preventive insertion of a polymer to prevent leaks). The AneuFix/AneuFill concept is a 2-component polymer in a syringe. Upon insertion, the 2 components are mixed and then harden into an elastic permanent implant in the aneurysm.

Clinical trials started in 2020, 33 patients have been treated to date. The interim results of the clinical trial are very positive, in 89% of the patients the leakage remains stopped for a long time. By the end of 2024, the company hopes to have treated 57 patients and thus completed the clinical study so that CE marking can be obtained for AneuFix, followed in 2026 by CE marking for Aneufill.

“We are pleased with the new financial injection that will allow us to continue our research and achieve the certification required for the market launch of both products” said Tjeerd Homsma, CEO of TripleMed.”

Extent of aortic aneurysms
More than 150,000 patients worldwide are treated for aortic aneurysms each year. As many as 10-15% of all aortic aneurysms previously treated with stent-grafts experience leakage and further growth of the aneurysm. No effective treatment currently exists for this.

About TripleMed
TripleMed was founded in 2011 by three reputed vascular surgeons, Dr. Hans Brom, Dr. Alexander de Vries and Prof. Dr. Michael Jacobs. The company is based at the Brightlands Chemelot Campus in Geleen. TripleMed focuses on developing innovative and cost-effective solutions for the treatment of aortic aneurysms.
Despite the obvious benefits of endovascular treatment using endoprostheses, the procedure is associated with a relatively high number of complications and repeat operations in the years following the initial surgery, which has a major impact on patients’ quality of life and high costs. With its products, TripleMed expects to make a significant improvement to more effective and cost-efficient treatment of aortic aneurysms.
More information:  www.triplemedical.com.

About Brightlands Venture Partners
Brightlands Venture Partners (BVP) is the fund manager of Chemelot Ventures and is a so-called ecosystem investor. BVP invests in companies benefiting from and contributing to the Brightlands campuses in the south of the Netherlands. Other funds under management are BVP Fund IV, Brightlands Agrifood Fund and Limburg Ventures. Chemelot Ventures has a portfolio of investments in startups and scaleups in sustainability and health. Together the BVP funds have made over 50 investments.
More information on https://brightlandsventurepartners.com/.

AneuFill procedure - TripleMed.PNG

Image on the left: During the procedure, AneuFill polymer is inserted through a filling catheter immediately after the endoprosthesis is placed (green).
Image on the right: The entire space of the aneurysm around the endoprosthesis is filled with AneuFill polymer (blue).

 

Categories: News

Tags:

Montagu to acquire Johnson Matthey’s Medical Device Components business

Montagu
Montagu, a leading private equity firm, has announced that it has agreed to acquire the carved-out Medical Device Components business (MDC) of Johnson Matthey Plc.

MDC develops and manufactures miniature components for minimally invasive medical devices used in high-growth clinical specialties. It focuses on complex and high-precision components made from Platinum Group Metals and Nitinol, with decades of expertise in the metallurgy, micro-machining, and coating of these specialty alloys.  As one of the few suppliers globally with the ability to design and produce these specialty components with the required scale and quality, MDC plays a crucial role in its markets and is uniquely positioned to support its blue-chip customers to accelerate innovation and improve patients’ lives. With manufacturing sites in the USA (San Diego), Mexico (Mexicali) and Australia (Tullamarine), MDC supports its customers on a global basis.

After the transaction closes, MDC will operate as a new standalone company, led by its existing management team.

MDC Chief Executive Don Freeman said: “We are delighted to be partnering with Montagu in the next phase of MDC’s development. They bring a significant amount of expertise in healthcare and in particular IP-led medical devices, and they share our ambitions for the business over the coming years, both organically and through M&A.”

We are delighted to be partnering with Montagu in the next phase of MDC’s development. They bring a significant amount of expertise in healthcare and in particular IP-led medical devices.

Don Freeman, Chief Executive, Medical Device Components

Adrien Sassi, Partner at Montagu said: “The carve-out of MDC aligns strongly with Montagu’s approach. MDC has rare and hard to replicate capabilities that enable it to handle the most complex and demanding precision-engineered components at scale. With support from Johnson Matthey, Don and his team have positioned the business to capitalize on the fast growth of its underlying markets and blue-chip OEM customers. We look forward to supporting their ambitious expansion plans.”

We look forward to supporting their ambitious expansion plans.

Adrien Sassi, Partner, Montagu

The transaction is subject to customary regulatory approvals and closing conditions.

This is Montagu’s second carve-out transaction announcement in three months. The firm completed its acquisition of Cook Medical’s biotech business unit in January and its subsequent merger with RTI Surgical. Since 2002, Montagu has initiated and successfully implemented over 30 carve-outs.

Raymond James & Associates, Inc. acted as financial advisor, Kirkland & Ellis LLP as legal advisor, and PwC as transaction advisor to Montagu.

Categories: News

Tags:

Spineart secures more than CHF20 million in convertible financing of BAGUERA® C IDE studies enrollment

GIMV

Spineart has successfully raised a CHF20 million convertible financing. The funding comes on the heels of the completion of enrollment in the two BAGUERA® C IDE studies, underlining Spineart’s commitment to advancing spinal surgery through large scale investments in research and development. More than CHF15 million of the funding was contributed by existing shareholders and employees, with the remaining portion sourced from new investors, above its CHF20 million initial target.

“We are thrilled to announce the successful closure of our CHF20 million convertible financing round, which underscores the confidence and support of our investors in Spineart’s vision and innovative technologies,” said Jerome Trividic, CEO of Spineart. “The overwhelming participation from existing shareholders, as well as the addition of new investors, is a testament to the potential of our BAGUERA® C cervical disc prosthesis and our commitment to improve spinal surgery through enabling technologies and robotic navigation.”

The proceeds from the financing round will be used for several strategic initiatives. These include investments in novel enabling technologies, continued follow-up of patients enrolled in the two BAGUERA® C IDE studies, completion by the end of 2024 of a new 43,000sqft / 4,300 m2 factory currently under construction near Geneva and the opening this summer of Spineart’s new R&D and Training Center for Enabling Technologies in Dallas, Texas.

About the BAGUERA® C IDE studies:

The BAGUERA® C IDE studies are pivotal in evaluating the safety and efficacy of Spineart’s innovative BAGUERA® C cervical disc prosthesis, designed to address degenerative cervical disc disorders. The completion of enrollment in these studies marks a crucial step forward in bringing this new technology to market in the United States.

Categories: News

Tags:

Oakley Capital invests in Horizons Optical

Oakley Capital, the leading pan-European, mid-market private equity investor, is pleased to announce that Oakley Capital Origin Fund I is investing in Horizons Optical, a provider of medical software used to make premium spectacle lenses.

Origin is acquiring a majority stake in the business alongside CEO Santiago Soler, who will retain a significant share in the business and will continue to lead Horizons. As part of the agreement, Oakley is acquiring the shares in Horizons owned by Sherpa Capital, a leading private equity firm in Iberia.

Founded in Barcelona in 2017, Horizons’ proprietary and patented software is used by independent laboratories around the world to manufacture bespoke, ‘progressive’ lenses that can correct a range of eye conditions including short, mid and far sightedness as well as astigmatism, all in one lens. Lenses manufactured using Horizons’ patented technology are positioned in the highest value-added segments of the optical industry, standing out for their distinctive qualities and outstanding optical performance. 10 million lenses were produced with Horizons’ technology in 2023.

Horizon Optical

Horizons also provides equipment for opticians with the capability to scan consumers’ faces and measure relevant facial parameters for the manufacturing of lenses and frames.

Horizons has a strong, historical track record generating double-digit revenue growth. The fast-growing business is internationally diversified with Europe and the US each accounting for approximately a third of revenues, followed by APAC and South America.

Horizons operates in a lens market with strong, long-term growth prospects, underpinned by a growing ageing population and the increased incidence of vision conditions caused by excessive screen time on mobile phones and desktop computers. At the same time, Horizons is growing the market by developing tools to help opticians sell to more customers, including its recently-launched Mimesys virtual reality headset which enables optometrists to accurately measure customers’ eyes in order to produce bespoke lenses.

 

Oakley’s Investment

Oakley’s investment in Horizons reflects its strategy of partnering with founder-led, entrepreneurial businesses to help them innovate and accelerate growth.  Oakley will leverage its strong track record of building market leaders to help Horizon accelerate its international growth plans, taking market share as a high-quality, innovative solution for lens manufacturers and opticians looking to offer bespoke eyecare solutions for consumers, while also leveraging its strong market reputation for exceptional customer service. Oakley will also support investment into R&D and Sales & Marketing to ensure Horizons continues to win as an innovator and disruptor in its core markets.

News

Oakley Capital invests in Spanish transport and logistics software business Alerce30.10.23

This will be Oakley’s sixth deal in Spain, following vLex, Seedtag, Alerce, Grupo Primavera (now part of Cegid), idealista, and several education assets, reinforcing its commitment to Iberia as a key investment destination. It will also be Origin I’s 9th investment after which the Fund will be c.75% invested.

Quote Peter Dubens

Horizons Optical has all the hallmarks of a typical Oakley deal: a disruptive market leader, with strong software IP and led by an exceptional management team. We look forward to working with Santiago to help the business realise its full potential, taking advantage of strong market growth drivers as well as leveraging our expertise helping to scale software businesses including Grupo Primavera in Iberia.

Peter Dubens

Founder and Managing Partner — Oakley Capital

Quote Santiago Soler

Our focus on quality, innovation and exceptional customer care have driven Horizons’ strong performance to date. Oakley clearly shares our values and so we are delighted to be partnering with the firm as we embark on the next stage of our expansion. We have travelled this path of growth alongside a strong partner in Sherpa Capital, to whom we are grateful not only for their investment in Horizons and belief in our potential but also for providing the company with a spirit of continuous improvement and excellence. We see enormous potential to further grow our international business, benefitting from Oakley’s expertise to expand our service offering and drive professional improvements across our business.

Santiago Soler

CEO — Horizons Optical

Categories: News

Tags:

KKR To Support Ottobock With Capital Solution

KKR

London and Frankfurt, 15 March, 2024 – KKR, a leading global investment firm, announces today that a consortium of investors, co-led by KKR, has agreed to provide a €1.1 billion financing solution to support the future growth of Ottobock (the “Company”), a global market leader in prosthetics. The financing will also support existing majority shareholder Professor Hans Georg Näder and the Näder Family’s buy back of EQT’s shareholding in the business.

Headquartered in Duderstadt, Germany, with origins dating back more than 100 years, Ottobock is widely recognised for its innovative and market leading solutions in the fields of prosthetics and orthotics, dedicated to helping customers globally maintain or regain their freedom of movement. Ottobock, which has remained family-owned since inception in 1919, has more than 400 of its own patient care centres worldwide, providing a diverse range of high tech and customizable devices designed to help amputees’ mobility.

The Company has sat at the forefront of industry innovation, evidenced by the introduction of the first micro-processor enabled knee as early as 1997. It has maintained its global market leadership position through a continuous focus on innovation and R&D, delivering cutting edge products across EMEA, APAC, the Americas and Africa. The Company currently employs more than 9,000 employees worldwide.

Professor Hans Georg Näder, owner and Chairman of the Board of Directors of Ottobock, said: “To continue our successful strategy as a purely family-owned company, we needed to find the right strategic and solutions-orientated partner. KKR has a long history of helping German family businesses achieve their growth ambitions, as well as the agility and creativity to provide customised capital solutions. This strategic partnership will enable us to continue building on our strong market position under the leadership of our CEO Oliver Jakobi and his management team.”

Christian Ollig, Partner and Head of the DACH Region at KKR, added: “We have followed Ottobock for many years and are delighted to support the Näder family’s and management’s strategy for Ottobock in the future. KKR’s financing support of Ottobock follows KKR’s decade-long tradition to support families in the DACH region to realise their growth and innovation ambitions.”

KKR is making the investment in Ottobock primarily through its credit funds and accounts.

KKR’s diversified and multi-asset investment platform enables flexibility to support ambitious companies with a suite of comprehensive, bespoke capital solutions, further enhanced by the firm’s global experience and operational capabilities. In Germany, this model along with KKR’s partnership approach, strong local presence and large global platform, enables companies to grow and globalise.

Closing of the investment remains subject to the satisfaction of customary conditions.

— Ends —

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media Contacts

FGS Global
Alastair Elwen
KKR-Lon@FGSGlobal.com
Tel: +44 (0) 20 7251 3801

 

Categories: News

Tags:

Eurazeo signs an agreement to sell 100% of Peters Surgical’ share Capital to Advanced Medical Solutions Group PLC

Eurazeo

Eurazeo Small-mid buyout strategy and the management of Peters Surgical announce that they have signed an agreement to sell all the share capital of Peters Surgical to Advanced Medical Solutions Group plc (AIM: AMS), a world-leading specialist in tissue-healing technologies listed in the London Stock Exchange.

Eurazeo has been supporting Peters Surgical, a leading global provider of specialty surgical sutures, mechanical haemostasis and internal cyanoacrylate devices, as a majority shareholder, since 2013. Over the past years, Eurazeo has enabled the company to expand its presence in the operating room by developing organically and by acquiring new product ranges, such as haemostatic clips or surgical glue. Thanks to numerous acquisitions, Peters Surgical has also increased its shares of direct-selling capabilities, and expanded its geographical presence in the United States, in Asia and in key European countries (Germany, Poland, among others).

The transaction will allow Peters Surgical to benefit from significant complementarities with Advanced Medical Solutions Group plc in terms of portfolio of surgical products, of sales capabilities and commercial footprint in key territories as well as distribution networks.

The transaction remains subject to approval of French authorities for foreign direct investment control. The sale of Peters Surgical would allow funds managed by Eurazeo, to receive estimated proceeds of €66m (of which c. €46m for Eurazeo’s Balance Sheet) upon closing. These proceeds are subject to adjustments based on completion accounts and earn-outs which could be triggered and paid in 2024 and 2025.

Categories: News

Tags:

Linden Invests in Alcresta Therapeutics

Linden Capital Partners

Chicago, IL (March 12, 2024) – Linden Capital Partners (“Linden”), a Chicago-based healthcare private equity firm, announced today the completion of its acquisition of Alcresta Therapeutics, Inc. (“Alcresta” or “the Company”), a leader in commercializing novel enzyme-based products designed to address challenges faced by patients living with gastrointestinal disorders and rare diseases.

Alcresta recently announced 510(k) clearance of its next-generation RELiZORB® (iMMOBILIZED LIPASE) cartridge by the Center for Devices and Radiological Health of the U.S. Food and Drug Administration. The next-generation RELiZORB device was developed to address the enteral nutrition needs of a wider population of patients living with rare diseases and is expected to launch in Q2 2024.

Linden Operating Partner Ron Labrum, who is joining Alcresta as Chairman of the Board of Directors, said, “I am very excited to join the Alcresta team to support the continuing growth of the company. Alcresta’s rapid progress has made a meaningful difference for patients living with rare diseases that struggle with fat malabsorption. Linden feels very fortunate to partner with Alcresta as it prepares for new levels of momentum and success in the years ahead.”

Daniel Orlando, CEO of Alcresta, said, “We have been very impressed with Linden’s thoughtful investment approach as we finalize launch plans for the next generation RELiZORB and accelerate R&D efforts for an iteration to treat enterally fed patients in the NICU. We anticipate considerable growth in the years to come and appreciate the added strategic planning and investment experience that Linden brings to Alcresta.”

Piyush Shukla, Partner at Linden and incoming Board member at Alcresta, added, “Linden’s investment in Alcresta is a direct result of our dedicated and longstanding medical devices and specialty pharma sector effort. We have been impressed with the organization and team that Daniel has built and are excited to partner with Alcresta on this next phase of growth.” Linden’s Ernest Waaser and Prab Chawla have also joined the Board of Directors, alongside Alcresta CEO Daniel Orlando.

Kirkland & Ellis LLP and Cain Brothers, a division of KeyBanc Capital Markets, served as legal advisor and financial advisor to Linden, respectively. Wilmer Cutler Pickering Hale and Dorr LLP and Rothschild & Co served as legal advisor and financial advisor to Alcresta, respectively. Twin Brook Capital Partners and MidCap Financial provided debt financing for the transaction.

About Alcresta Therapeutics, Inc.
Alcresta Therapeutics, Inc. is dedicated to developing and commercializing novel, enzyme-based products designed to address challenges faced by patients living with gastrointestinal disorders and rare diseases.  Alcresta currently markets RELiZORB for enterally fed patients with pancreatic insufficiency, which occurs in cystic fibrosis, pancreatic cancer, and pancreatitis, and is developing platform applications for patients with short bowel syndrome (SBS) and prematurely born infants treated in the NICU.  More information can be found at www.alcresta.com.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is the country’s largest dedicated healthcare private equity firm by total buyout capital raised. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 325 total transactions. The firm has approximately $8 billion in regulatory assets under management. For more information, please visit www.lindenllc.com.

Categories: News

Tags:

Spineart completes enrollment in the BAGUERA®C IDE trial for two-level cervical disc replacement

GIMV

Spineart SA today announced it has completed enrollment in its U.S. IDE trial studying the BAGUERA®C Cervical Disc Prosthesis in patients with cervical disc disease at two contiguous levels between C3 to C7 compared to a commercially marketed cervical disc implant.

The multi-center, prospective, randomized controlled trial enrolled over 300 patients at 25 sites across the United States. The primary endpoint of the study is the clinical success rate of BAGUERA®C in two contiguous levels from C3 to C7 compared with two-level cervical disc replacement with a commercially available disc replacement implant. The Company announced the completion of enrollment for its one-level IDE trial at the end of February 2024.

Jerome Trividic, CEO of Spineart, said, “The enrollment completion of our two-level BAGUERA®C IDE study marks a significant milestone in Spineart’s ambition to emerge as a global leader in spine arthroplasty. Coupled with the ongoing one-level BAGUERA®C IDE study, Spineart is spearheading the gathering of crucial long-term clinical evidence from nearly 600 artificial disc recipients across the United States. This unprecedented achievement underscores our commitment to advancing the adoption of cutting-edge technologies in spinal surgery. We extend our sincere gratitude to our esteemed investigators and their teams whose dedicated participation has been instrumental in this endeavor. We eagerly anticipate bringing these two studies to fruition.”

Domagoj Coric, neurosurgeon at Carolina Neurosurgery & Spine Associates in Charlotte, NC, and co-lead investigator of the IDE trials, stated, “The outcomes from this study will further build the level I evidence supporting the safety and effectiveness of cervical disc arthroplasty with its head-to-head comparison against another cervical implant with similar design features.”

The BAGUERA®C Cervical Disc prosthesis is evaluated in two separate IDE trials in the U.S. for one- and two-level cervical disc disease. The BAGUERA®C implant has been commercially available in selected European and worldwide markets since 2008. Internationally, early long-term feedback has shown substantial improvement in patient pain scores and functional improvement after treatment.

Categories: News

Tags: