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SpineLab raises CHF 4 million in first financing round
Winterthur (ots) - SpineLab AG, a privately held company, specialized in developing a dynamic stabilization system for the spine, announced today that it has raised CHF 4 million in a first financing round. Lead investors are BioMedInvest and VI Partners. Other participants are the management and Acceleration International. Gérard Moufflet, CEO and Founder of Acceleration International has been appointed Chairman of SpineLab. Thomas Möller, BioMedInvest and Arnd Kalthofen, VI Partners, have joined the board of SpineLab.
"This financing will allow us to complete the product development and introduce DynaSpine in the market." said Thomas Zehnder, President & CEO of SpineLab.
Gerard Moufflet added, "SpineLab's management team and inventors have combined more than two decades of experience in the field of dynamic stabilization devices. They are poised to launch the leading device in this field."
SpineLab AG is developing a second generation pedicle screw-based Dynamic Stabilization System for the spine: DynaSpine(tm). The system is unique in having a simple approach to establish consistent biomechanical conditions. SpineLab's patents cover a wide range of design options including minimally invasive approaches.
BioMedInvest AG is a healthcare-dedicated venture capital fund based in Switzerland, providing private equity financing to early- to mid-stage companies in Switzerland and neighbouring regions (Alpine Rim). BioMedInvest currently invests out of Fund I, which has a size of CHF 100 million and was closed in 2003. www.biomedvc.com
About VI Partners
VI Partners is a Swiss venture capital firm currently managing the CHF 101 million Venture Incubator fund. www.vipartners.ch
About Acceleration International
Acceleration International, headquartered in Boston, is a catalyst for Private Equity investing in the Healthcare field in Europe and the United States. www.accelerationint.com
ots Originaltext: SpineLab AG
Dr. Thomas Zehnder