Fayetteville, AR (PRWEB) January 31, 2013
OsteoVantage, Inc. received a National Science Foundation Phase I Small Business Innovation Research grant of $150,000 for development of a specially designed screw used in lower back fusion surgery. The screw itself is not only the all-important anchor for OsteoVantage’s unique hardware design, but it is also designed to stimulate the body’s own bone-building machinery. With OsteoVantage’s innovative technology, bone fusion is faster, stronger, and less likely to fail over time.
Injuries to the back and spine represent the leading cause of lost productivity in the United States. For serious conditions, spinal fusion surgery has become the approach of choice. Between 1998 and 2008, the annual number of spinal fusions in the United States increased from 174,000 to 413,000 and the national bill for spinal fusion increased 7.9-fold. Although successful spinal fusion surgery can significantly improve quality of life, failure rates have been reported to be as high as 40%.
OsteoVantage, Inc. was formed in 2012 to commercialize patent pending spinal fusion technology exclusively licensed from Washington University School of Medicine (St. Louis). The goal of spinal fusion surgery is to create a stable, bony union between adjacent vertebrae in order to stabilize the spine and alleviate pain. OsteoVantage’s unique spinal instrumentation technology enhances bone formation at the site of implantation, thereby improving clinical outcomes.
OsteoVantage™ is a VIC Technology Venture Development™ portfolio company.