Funds Will Support International Growth, New Products and Completion of a
One and Two Level Cervical Disc Study in the U.S.
AUSTIN, TEXAS, September 13 /CNW/ - LDR, a privately held company with
innovative spinal implants for both non-fusion and fusion applications, has
completed a $25MM Series C funding round. Telegraph Hill Partners led the
investment along with original investors Austin Ventures, Rothschild Private
Equity and PTV Sciences.
LDR now sells products in over 30 countries and will use the funds for
ongoing expansion. In the coming months the company will be introducing
several new spinal products and concluding enrollment in its IDE study for
Mobi-C(R), the company's second-generation cervical disc.
The Mobi-C IDE study was the first FDA approved concurrent study for both
one and two level indications. Introduced in France in late 2004, the product
has now been implanted in over 4000 patients globally. The company continues
to follow the first 200 patients that were implanted with the Mobi-C via a
European clinical study and also has several ongoing clinical studies with
patients outside the U.S. In the United States, approximately 430 patients
have been enrolled and completion of the study is forecasted in the next
90-120 days. Multi-level cervical arthroplasty is forecasted to become a
strong need in the spine market and the Mobi-C's two-level study will be
important in this emerging market.
The company is expanding into new geographic markets and introducing
several new product platforms including: innovative interbody fusion products,
an exciting new approach for motion preservation in the lumbar spine and a new
methodology to minimally invasive surgery developed with leading physicians
including clinicians at the Texas Back Institute.
Christophe Lavigne, CEO of LDR Holdings said, "We are excited about LDR's
future and are pleased to welcome Telegraph Hill Partners as our newest
investor. Our company is now positioned to become one of the leading
innovators in spine. The next six months should be particularly busy and
exciting as we roll out several new technologies."
Robert Shepler, general partner at Telegraph Hill Partners comments,
"During our due diligence process we communicated with the spine surgeon
community and received valuable and encouraging feedback about LDR and its
products. In particular, the surgeons were excited about the "screw-less,
keel-less, mobile bearing design" of the Mobi-C cervical disc, which they
believe will be a leading contender in the emerging market for multi-level
cervical disc surgeries. We look forward to working with the LDR team in the
continuing development of an outstanding company."
LDR works closely with surgeons to develop implantable spine systems and
instrumentation that restore optimum stability and mobility to patients and to
make spine surgery more reproducible and easier to perform. More information
is located at www.ldrspine.com.
Caution: Mobi-C is an Investigational device in the U.S. and is limited
by U.S. law to investigational use.
For further information:
For further information: LDR Spine, Austin Jerry DeVries, 512-344-3301