PALM BEACH GARDENS, Fla., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Accelus, a privately held medical technology company committed to becoming the global market leader in expandable spinal implant technologies, announced today that it has received a significant financial investment through a $20 million debt facility from Symbiotic Capital.
This strategic funding from Symbiotic Capital represents a critical milestone in Accelus's journey toward establishing itself as the global market leader in expandable spinal implant solutions. The infusion of capital not only strengthens the company’s balance sheet but will also enable the aggressive expansion of its sales force into previously underpenetrated markets and accelerate the company’s clinical research and product development efforts, especially around its flagship FlareHawk and innovative Toro expandable interbody fusion systems.
"Symbiotic Capital's investment is a testament to the growth potential of Accelus's technology and our vision for the future of minimally invasive spine care," said Kevin McGann, President & Chief Executive Officer of Accelus. "Symbiotic Capital is an ideal partner for Accelus, sharing our commitment to innovations that support surgeons and improve patient outcomes, and their support will be instrumental in broadening our market reach and speeding up our R&D to ensure we stay at the forefront of spinal implant technology.”
The funding will also be used to help support Accelus’s renewed focus on its Adaptive Geometry™ technology, an advanced feature of its flagship FlareHawk® Interbody Fusion System, by facilitating additional clinical studies and data collection. FlareHawk’s unique design has demonstrated favorable fusion and patient outcomes in previously published clinical reports, demonstrating the cage’s ability to conform to patients’ endplate geometry with zero cases of device subsidence (defined as an overlap between the vertebral endplates and the device exceeding 25% of the device height).1,2 This strategic investment in further research and data analysis is expected to reinforce the clinical efficacy of the FlareHawk system, solidifying Accelus's position as a leader in expandable spinal implant technologies.
Advisors
Piper Sandler served as Accelus's exclusive financial advisor.
About Accelus
Accelus, a worldwide leader in expandable spinal implant technology, is dedicated to enhancing surgical procedures and patient outcomes through innovative spinal solutions. The company's commitment to excellence is evident in its advanced Adaptive Geometry™ technologies specifically designed for transforaminal lumbar interbody fusion (TLIF), posterior lumbar interbody fusion (PLIF), endoscopic-assisted, percutaneous, and lateral spine surgeries. For more information on Accelus and its innovative product portfolio, please visit www.accelusinc.com.
- Coric D, Roybal RR, Grubb M, et al. Bidirectional expandable technology for transforaminal or posterior lumbar interbody fusion: a retrospective analysis of safety and performance. Int J Spine Surg. 2020;14(s3):S22–S30. doi:10.14444/7123
- Cheng BC, Swink I, Yusufbekov R, et al. Current Concepts of Contemporary Expandable Lumbar Interbody Fusion Cage Designs, Part 2: Feasibility Assessment of an Endplate Conforming Bidirectional Expandable Interbody Cage. International Journal of Spine Surgery. https://www.ijssurgery.com/content/14/s3/S68. Published December 1, 2020.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b6d60c94-4566-43ea-a22d-51cd22d41939
