HyperBranch Medical Technology

About HyperBranch Medical Technology

HyperBranch Medical Technology, established in 2003 by co-founders Mark Grinstaff, Anthony Sherbondy, and Robert A. Naslund, carved a niche in the biosurgical device market by focusing on proprietary polymer and cross-linked hydrogel technologies. Based in Durham, North Carolina, the firm centered its strategy on developing and marketing products for traumatic or surgically induced wounds.

The company's product portfolio was aimed at the general surgery, ophthalmology, and specialty surgery markets. A notable product was the OcuSeal liquid ocular bandage, a hydrogel that acted as a protective barrier on the eye to reduce discomfort after surgery or trauma. However, its flagship product became the Adherus AutoSpray Dural Sealant. This synthetic, absorbable, two-component sealant was developed to provide a watertight closure of the dura mater following cranial procedures, thereby preventing cerebrospinal fluid leaks. The Adherus system featured a self-contained applicator designed for ease of use, allowing surgeons to precisely control dispensing without clogging. This product was one of only two FDA-approved dural sealants on the market, receiving its CE Mark in 2012 and FDA approval in March 2015.

HyperBranch's business model involved direct sales and distribution through a network of international partners. The company's growth was fueled by over $18.7 million in funding across several rounds, with investors including H.I.G. HealthBridge Partners and The Aurora Funds. This culminated in a significant milestone in October 2018, when Stryker Corporation acquired the privately-held company in an all-cash transaction valued at approximately $220 million. The acquisition was a strategic move by Stryker to enhance its Neurotechnology division and strengthen its portfolio in the dural repair space.