OrthoSpace develops a simple to implant, biodegradable balloons for the orthopedic market. OrthoSpace's first product is indicated for the shoulder Rotator-Cuff injury. The Rotator-Cuff is a complex network of muscles and tendons that hold the shoulder in place and enable the arm to rotate. The space between the Rotator-Cuff and the upper bone of the shoulder (the Acromion) is filled with a fluid sac called the bursa. The InSpaceTM balloon, implanted using a simple 10-minute procedure, is designed to replicate the action of the bursa during the healing process. It removes friction, and correctly spaces the tendons and muscles in the Rotator-Cuff.
Rotator cuff syndrome is 3rd orthopedic common pathology after knee and back cases; ~ 3m - 4m Americans visit physicians due to problems associated with rotator cuff injury.
OrthoSpace is targeting ~ 1 to 1.5 million people who are untreated and remain in pain.
Estimated $750m - $1B market.
OrthoSpace has already shown initial safety and efficacy in a double-arm, single center study in Slovenia. This study enrolled 24 patients with Massive Rotator-Cuff tears with an average follow-up of 18 months after operation. The results were very successful in pain reduction and improvement of motion. In November 2009 the company started a multi center study in Israel.
OrthoSpace was spun off out from BioProtect in August 2009.
TEAM
Itay Barnea, CEO
Experienced executive with 8 years in the medical device industry including senior positions at Johnson & Johnson and start up companies.
Shaul Shohat, Founder & Board Member
Founder, VP R&D & Chairman of BioProtect, a developer of biodegradable implants to reduce radiotherapy related side effects.
More than 15 years of executive experience in life-science and medtech development.
Dr. Assaf Dekel, Founder & Medical Director & Board Member
Orthopedic surgeon with more than 10 years experience in the medical device industry.
Founder of Neatstitch, a developer of unique laparoscopic suturing technology.
Guy Levy, VP Sales & Marketing
Senior sales positions at Genzyme & DePuy (J&J).
Board member in several orthopedic start ups.
Dr. Yossi Muncher, VP Clinical Affairs
Regulatory & Clinical Director, Accelmed, an investment firm focusing on Israeli late stage medical device companies with significant clinical data.
More than 15 years in VP positions for medical device companies in the regulatory and clinical fields.
Prof. Nogah Haramati, PhD., Board Member
Chief, Dept. of Radiology, Montefiore Medical Center, New York. Prof. of Clinical Radiology and Clinical Surgery, Einstein Medical School, New York.
Anat Segal, Board Member
CEO Xenia Venture Capital. Former Managing Director and Head of Corporate Finance at Tamir Fishman & Co., then Israeli strategic affiliate of Hambrecht & Quist (which later merged with Chase JP Morgan).
Advisory aboard
Dr. Ken Zaslav, Medical Advisor
Medical Director of Advanced Orthopedic Centers in Richmond, Virginia
Founding Director of the Sports Medicine Center and Cartilage Regeneration Centers in Richmond, Virginia.
Dr. Eliyahu Adar, Medical Advisor
Head Director of Orthopedic unit in Wolfson medical center , Israel
EX- Chairman of the Arthroscopy association in Israel.
www.orthospace.co.il
|
