TORONTO, ONTARIO, May 26, 2022— Minimally invasive image-guided therapy start-up, SpinaFX Medical Inc. (SpinaFX), today announced significant milestones hit since closing its $6.88M CDN Series A round in November 2021. SpinaFX has leveraged investment proceeds for patent estate expansion, product enhancements, quality management system implementation, regulatory approval pursuits and commercialization of Triojection®. 1
SpinaFX acquired the world’s largest collection of patents, trademarks, pre-clinical and clinical evidence, and regulatory and commercial documentation surrounding intradiscal oxygen/ozone therapy for treating lumbar disc herniations. Intradiscal oxygen/ozone therapy involves the injection of a mixture of oxygen and ozone gas into an intravertebral contained herniated disc for relief of leg and back pain.
The acquisition of existing IP yielded a powerful repository of evidence for intradiscal ozone injection involving bench, animal and randomized clinical trial data, as well as 65 patents covering the generation, measurement, delivery, and clinical use of technology for intradiscal ozone injection. SpinaFX is now well positioned to advance its products and accelerate regulatory approval in Canada, the EU, the U.S. and beyond.
“There is an indisputable gap within the continuum of care for contained herniated lumbar discs,” said Jeff Cambra, SpinaFX CEO. “I am extremely pleased with the confidence placed in the SpinaFX team by investors and to have acquired the collective knowledge of the most impressive companies behind intradiscal ozone technology under the umbrella of SpinaFX. We are moving decisively to bring this technology to market to address the unmet needs of patients and providers.”
Since closing the funding round in November 2021, SpinaFX has achieved several additional key milestones, further positioning the Company to achieve its goal of bringing innovative, minimally invasive image-guided treatments to the global market:
- Built a world-class leadership team, including leading interventional neuroradiologist Dr. Kieran Murphy as Chief Medical Officer
- Acquired existing device finished goods and manufacturing inventory
- Partnered with StarFish Medical for commercialization contract manufacturing support
The Company looks forward discussing these accomplishments with leading interventional radiologists as an exhibitor at the Society of Interventional Radiology 2022 Annual Meeting in June. To learn more about SpinaFX, visit SpinaFX.com.