JumpStart Invests $250,000 in OrthoData
CLEVELAND -- OrthoData Inc., an Akron-based medical device company that is developing a novel diagnostic system for spine surgeons, has received a $250,000 investment commitment from JumpStart Inc., a nonprofit venture development organization. OrthoData plans to use the funds to complete a prototype development and conduct relevant animal studies.
The company's breakthrough implantable microelectronic spine fusion sensor, known as the IntelliRod system, enables surgeons to assess the success of spinal fusion procedures without exploratory surgery. “Up to 30% of post-operative patients experience continuing pain," said Ric Navarro, president and CEO of OrthoData.
Determining the cause of this pain -- which can occur as a result of incomplete fusion of the vertebrae -- often requires further surgery, slowing patients' recovery time. The OrthoData's IntelliRod system allows surgeons to track the outcome of the initial fusion surgery without invasive procedures and with less radiation exposure to the patient."
OrthoData's diagnostic system is more affordable than other methods used to assess post-operative progress, such as CT scans. In addition, the IntelliRod system is more quantifiable than imaging because it provides objective postoperative measurement of the extent of spinal fusion.
"OrthoData's technology has the potential to transform the postoperative management of spine implant patients," noted Michael Lang, JumpStart venture partner. "By providing early indication if the spine is or is not fusing, surgeons can intervene with alternative therapies sooner. In addition, OrthoData's solution can allow the patient to return to normal activities more quickly. The net effect is both better outcomes and reduced costs."
OrthoData's solution could greatly benefit high-risk spinal fusion patients including diabetics, smokers and the elderly, he added.
JumpStart has extended intensive business assistance to more than 440 entrepreneurial clients and invested in 71 early stage companies in northeastern Ohio since 2004.
Published by The Business Journal, Youngstown, Ohio.
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