U.S. Spine obtains $4.1 million funding

By Jennifer Chiou

New York, June 28 - U.S. Spine announced it has acquired $4.1 million in funding from private investors and a major financial institution.

The company has completed the evaluation phase of its FDA-cleared "Facet Gun," a single-use, minimally invasive facet fixation system, which it plans to launch in the fourth quarter.

Boca Raton, Fla.-based U.S. Spine is planning 2006 clinical trials of the Spartacus Lumbar Disc replacement device, a third generation artificial spinal disc with a nonlinear fiber matrix for added endurance, strength and stability.

Spinal implants represent the fastest growing segment of the orthopedic market, and sales of artificial disc replacements may exceed $2 billion in the next five years.

"We are excited about the new technology in development and are also pleased to have the core products producing revenue, reducing our dependence on investment capital," said president Doris Blake in a news release.

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