Applied Spine Technologies

About Applied Spine Technologies

Applied Spine Technologies, Inc. operated as a medical device company with a specific focus on developing solutions for motion preservation of the lumbar spine. Founded in 2004, the company directed its efforts towards creating an alternative to spinal fusion that would maintain a patient's natural range of motion.

The cornerstone of the company's product development was the Stabilimax NZ®, a posterior dynamic stabilization device engineered to support an injured or degenerated spine without eliminating movement. This system was based on the biomechanical principles of the Neutral Zone, a concept pioneered by Dr. Manohar Panjabi. The technology was designed for patients with degenerative disc disease, with or without minor spondylolisthesis, who had not found relief after six months of non-operative treatment. The Stabilimax NZ system underwent an IDE Clinical Study at various sites across the United States to evaluate its safety and effectiveness.

Throughout its operation, Applied Spine Technologies secured significant financial backing from the venture capital community, raising a total of $47 million. Its funding history includes a $4 million Series A round in March 2004, a $15 million Series B round in February 2005, and a subsequent Series C round in April 2007. Key investors in the company included BioVentures Investors, De Novo Ventures, InterWest Partners, MB Venture Partners, and Oxford Bioscience Partners. The company was led by CEO Craig Corrance.

In a significant milestone that marked a new chapter, Applied Spine Technologies was acquired by Rachiotek on March 22, 2011. This acquisition represented the culmination of the company's journey as a venture-backed startup in the competitive spinal device market.