Ortho Kinematics Secures Series C Funding

Ortho Kinematics Inc. recently closed a $9.6 million Series C equity financing. The funds will be used to expand marketing and sales of Vertebral Motion Analysis (VMA) technology, the company’s flagship product for the radiographic assessment of spinal motion and instability.

It also will fund “limited research and development activities,” officials said.

Investors in the funding included Medtronic plc; TEXO Ventures, an early-stage technology venture fund focused on healthcare; MB Venture Partners, a venture capital firm that provides capital and strategic direction to life sciences companies; and other previous and new investors. Medtronic and Ortho Kinematics signed a marketing partnership agreement for VMA in September last year.

Terms of the financing were not disclosed.

Gary Stevenson, co-founder and managing partner of MB Venture Partners, has joined Ortho Kinematics’ board of directors.

“My patients benefit from getting a VMA. The VMA provides the clinical information of traditional X-rays, as well as tremendous biomechanical insight from motion analysis that can impact diagnostic and treatment decisions,” said Reginald Davis, M.D., spine neurosurgeon about the technology. “To improve spine care, diagnostic capabilities must also improve.”

After securing U.S. Food and Drug Administration clearance for the VMA and completing a successful limited-scale commercial launch, the company currently is ramping up efforts to support a full-scale commercial launch within the United States and Europe.

“This current round of financing is a strong vote of confidence and will give OKI the resources to support ambitious growth,” said Paul Gunnoe, CEO. “The VMA is disrupting the more-than-60-year-old methods of diagnosing spine issues, and we believe this type of innovation is long overdue. We are leading in this area and are humbled by the support we have received.”

Ortho Kinematics, based in Austin, Texas, is a privately held diagnostic technology company, focused on spine imaging.