Friday, November 6, 2009

Facet Solutions acquires Archus Orthopedics

By Mass High Tech staff

Video Gallery

MHT's Efrain Viscarolasaga: How social networking is changing business

MHT managing editor Rodney Brown on NECN: 22 tech companies give back to community

Rodney Brown on NECN: Hacking into medical devices

Related News

Corindus raises $4.7M in equity funds [November 20, 2009]

Medical device firms show cautiously optimistic outlook [November 20, 2009]

Athena Diagnostics slaps IP suit on Calif. genetics firm [November 19, 2009]

Pressure BioSciences closes $1.2M tranche [November 18, 2009]

Clinical Data’s cardiac stress test hits Phase 3 trials [November 18, 2009]

Facet Solutions Inc. has bought all the assets of Redmond, Wash.-based spine disorder implants maker Archus Orthopedics, the company announced today. The acquisition brings Facet’s total patents up to 36, along with 200 patent applications.

Mass High Tech reported Thursday that Hopkinton-based Facet Solutions, a developer of surgical devices for spinal disorder treatments, raised $3.6 million in a combination of debts and warrants. CEO Geoff Pardo said that the company is in the process of raising up to $4.7 million.

Facet is currently enrolling patients in a clinical study for its Acadia system, intended to treat lumbar spinal stenosis.

Privately held Facet Solutions is backed by Spray Venture Partners of Newton, Palo Alto, Calif.-based DeNovo Ventures and New York-based FirstMark Capital.