OfferBoard Securities Announces Series B Financing for Atlas Spine and its Novel Array of Spine Solutions
Princeton, NJ (PRWEB) April 08, 2015 -- Medical device company Atlas Spine announced its plan to raise $5 million through OfferBoard Securities to further its existing business and monetize, through a licensing and royalty model, their patented portfolio of spinal implant product systems. Approximately 85% of inhabitants in the Western world experience chronic back pain during their lifetime, with 8 to 10 million people permanently disabled from spinal related issues. As the population ages and technologies, such as Atlas Spine, improve, the minimally invasive surgery and fusion markets are currently experiencing substantial growth.
When drugs and physical therapy fail to relieve back pain, patients will often opt for spinal fusion surgeries. Published studies in SAS journal of the International Society for the Advancement of Spine Surgery and the Society for Minimally Invasive Spine Surgery have demonstrated that when several discs are involved, spinal fusion has been proven to be highly effective. Atlas Spine’s seven patented products and twenty-eight patents in development seek to assuage several back ailments, boosting patient outcomes and reducing recovery times simultaneously.
Atlas Spine has engaged OfferBoard Securities to facilitate a capital raise in order to complete their Series B preferred round. Andre Peschong, a Managing Director at OfferBoard Securities stated, “Through this 506c offering individual accredited investors have the ability to participate in what would previously have been highly limited offering prior to the enactment of Title II of the JOBS Act. It is exciting to think about what this could mean for the development of new medical devices” Doug Watson, Atlas Spine CEO stated, “we see a tremendous value with the OfferBoard platform as it allows us to broadly reach out to investors both individually and institutionally and tell our story”. Watson also stated, “we have a dynamic intellectual property portfolio of differentiated and disruptive spinal implant products and instrument sets.” He went on to note that many companies in the spinal device industry have been receiving large valuations, saying, “With the recent multiples of deals being executed in our space we felt this is the right time to capitalize in the marketplace”.
Spinal fusion surgeries are the fastest growing sector in the orthopedic market. A June 2013 report indicated that the US MIS implant market is expected to exceed $3 billion by 2019. MIS InterBody Fusion is expected to remain the largest segment of the industry through 2019. The Atlas Spine management team has proven their ability to create disruptive products as well as having the key expertise in getting them FDA approved. Sensing a change in the market opportunity, Atlas Spine has made a strategic decision to modify its go to market strategy with their current IP portfolio. Rather than a traditional create, build and go to market strategy using traditional channels such as hospitals, stocking distributors and surgeons; Atlas management has chosen a more lucrative path of a licensing and royalty model. This allows for greater margins, lower overhead cost structure and the ability to partner with key industry players. Since inception, Atlas Spine has raised a total of $8.5 million. An existing investor has already committed $1.5 million of the round, and the minimum investment from accredited investors is $25,000.
About Atlas Spine
Atlas Spine is seeking to raise $5 million as part of its Series B round, with a minimum required investment of $25,000 for accredited investors. An existing investor has already committed $1.5 million of this Series B round. Since inception, Atlas Spine has raised a total of $8.5 million. To learn more about Atlas Spine, please visit their profile on the OfferBoard website at http://www.offerboard.com/ATL.
Doug Watson, President and CEO of Atlas Spine Inc., has over three decades experience in executive management roles in the life sciences industry. Previously as President & CEO of GenSci, he successfully negotiated strategic merger w/Isotis SA, later acquired by Integra Life Science Corporation.
About OfferBoard Securities
OfferBoard Securities is a national investment bank and broker dealer with an equity funding platform, headquartered in Princeton, New Jersey. OfferBoard Securities advises private companies raising $1 to 50 million in capital, including mergers, acquisitions, and divestitures. The OfferBoard team is backed by more than 75 years of experience from companies including Secord Market, Goldman Sachs, JP Morgan Chase Bank and the Asian Development Bank, among others. OfferBoard Securities is member FINRA/SIPC. To learn more about Atlas Spine on OfferBoard, please contact Andre Peshong, Managing Director, at (609)-498-7638.
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Ryan Schellhorn, OfferBoard Group, http://www.offerboard.com, +1 (609) 498-7638, [email protected]
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