CRANBURY, N.J., Sept. 13 /PRNewswire/ -- Replication Medical, Inc., a developer of implantable hydrogel devices intended for the treatment of degenerative spinal disc disease, announced today that it has completed a Series D funding round with strategic investment from Austin, Texas-based Abbott Spine. Although the specific terms of the financing are confidential, Abbott invested an initial $15 million. The capital will be used by Replication Medical to expand development of its hydrogels and implants for spine care.
“The synergy between Abbott Spine and Replication Medical, Inc. will enable us to dramatically accelerate our product development and clinical activities focused on the treatment of degenerative disc disease and lower back pain,” said Ann Prewett, Ph.D., president and CEO of Replication Medical. “Our NeuDisc(TM) radially anisotropic spinal nucleus implant is currently in clinical evaluation in Europe with clinical trials in the US anticipated to commence in 2006.”
“Abbott Spine is dedicated to developing and supporting innovative technology that will transform and improve spine care,” said Jeffrey Binder, president of Abbott Spine. “The worldwide spine market is the fastest growing segment in orthopedics and Abbott Spine is aggressively moving forward as the market continues to search for newer tissue sparing, motion preserving technologies.”
Replication Medical was founded in 2000 with intellectual property positions and technology in both hydrogels and spinal implants. The company’s previous financing round was led by the Princeton, NJ-based venture firm Cardinal Partners.
Replication Medical, Inc.
CONTACT: Ann Prewett, Replication Medical, +1-609-860-0330 x102,aprewett@replicationmedical.com
