LDR Raises $25 Million in Series C Round

AUSTIN, Texas--(BUSINESS WIRE)--LDR, a privately held company with innovative spinal implants for both non-fusion and fusion applications, has completed a $25MM Series C funding round. Telegraph Hill Partners led the investment along with original investors Austin Ventures, Rothschild Private Equity and PTV Sciences.

“During our due diligence process we communicated with the spine surgeon community and received valuable and encouraging feedback about LDR and its products. In particular, the surgeons were excited about the “screw-less, keel-less, mobile bearing design”

LDR now sells products in over 30 countries and will use the funds for ongoing expansion. In the coming months the company will be introducing several new spinal products and concluding enrollment in its IDE study for Mobi-C^®, the company’s second-generation cervical disc.

The Mobi-C IDE study was the first FDA approved concurrent study for both one and two level indications. Introduced in France in late 2004, the product has now been implanted in over 4000 patients globally. The company continues to follow the first 200 patients that were implanted with the Mobi-C via a European clinical study and also has several ongoing clinical studies with patients outside the U.S. In the United States, approximately 430 patients have been enrolled and completion of the study is forecasted in the next 90-120 days. Multi-level cervical arthroplasty is forecasted to become a strong need in the spine market and the Mobi-C’s two-level study will be important in this emerging market.

The company is expanding into new geographic markets and introducing several new product platforms including: innovative interbody fusion products, an exciting new approach for motion preservation in the lumbar spine and a new methodology to minimally invasive surgery developed with leading physicians including clinicians at the Texas Back Institute.

Christophe Lavigne, CEO of LDR Holdings said, “We are excited about LDR’s future and are pleased to welcome Telegraph Hill Partners as our newest investor. Our company is now positioned to become one of the leading innovators in spine. The next six months should be particularly busy and exciting as we roll out several new technologies.”

Robert Shepler, general partner at Telegraph Hill Partners comments, “During our due diligence process we communicated with the spine surgeon community and received valuable and encouraging feedback about LDR and its products. In particular, the surgeons were excited about the “screw-less, keel-less, mobile bearing design” of the Mobi-C cervical disc, which they believe will be a leading contender in the emerging market for multi-level cervical disc surgeries. We look forward to working with the LDR team in the continuing development of an outstanding company.”

About LDR

LDR works closely with surgeons to develop implantable spine systems and instrumentation that restore optimum stability and mobility to patients and to make spine surgery more reproducible and easier to perform. More information is located at www.ldrspine.com.

Caution: Mobi-C is an Investigational device in the U.S. and is limited by U.S. law to investigational use.