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Benvenue Medical Completes Divestiture of its Vertebral Augmentation Systems Portfolio

September 13, 2018

SANTA CLARA, Calif.--(BUSINESS WIRE)--Sep 13, 2018--Benvenue Medical, Inc., a developer of minimally invasive expandable implant solutions for lumbar fusion, today announced it has completed the divestiture of its vertebral augmentation systems portfolio for an undisclosed amount to IZI Medical Products, LLC. The completion of the sale of this business allows Benvenue Medical to devote its full resources to accelerating growth opportunities in the large market for its Luna 3D Interbody Fusion System.

The divested portfolio includes the Kiva ® VCF Treatment System, Kiva ® Pilot and Blazer ® Vertebral Augmentation System devices.

“IZI Medical’s acquisition of the Kiva and associated VCF product franchise allows us to singularly focus on our minimally invasive spinal implant and procedure product line,” said Robert K. Weigle, CEO of Benvenue Medical. “Our best-in-class Luna 3D Expandable Interbody System is an ideal minimally invasive expandable spinal implant and platform technology, enabling Nitinol, PEEK and Titanium materials to be combined in a procedural solution for degenerative disc disease that can be treated in either the hospital or the ASC setting.”

Benvenue Medical also announced the addition of its new Orbit Discectomy Instrumentation that facilitates a circumferential and comprehensive discectomy and endplate preparation to achieve a fusion. This novel new tool kit can be used in open and minimally invasive surgery with the Luna 3D implants, including compatibility with a variety of surgical fusion approaches.

Benvenue Medical will continue its spine surgeon-focused product development and U.S. operations at its Santa Clara, Calif., facility.

About the Luna 3D Interbody Fusion System

The Luna 3D Interbody Fusion System is one of the largest footprint yet least invasive devices for posterior lumbar interbody spinal fusion. The Luna 3D System is comprised of a PEEK implant designed to expand in multiple dimensions within the disc space, first in footprint, second in height and third in lordosis, allowing surgeons to effectively restore sagittal balance and height via a MIS posterior approach while providing the stability of a larger construct more often associated with an anterior approach. After a discectomy is performed, the Luna 3D Implant is delivered through a small diameter cannula into the disc space. After expanding its footprint, it is then expanded in height, diameter and lordosis with the insertion of a middle section. When the cannula is removed, a large volume of bone graft is placed in the middle of the implant to facilitate stabilization and an interbody fusion.

About Benvenue Medical, Inc.

Benvenue Medical, Inc. provides next-generation minimally invasive systems for lumbar fusion that combine expandable implants with novel delivery instruments to provide enduring functional benefits for patients. The company is privately held and funded by CRG. Its first products are designed for the treatment of degenerative disc disease and instability of the lumbar spine. For more information, visit www.benvenuemedical.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180913005235/en/

CONTACT: Merryman Communications

Betsy Merryman, 310-560-8176

betsy@merrymancommunications.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: SURGERY HEALTH MEDICAL DEVICES RADIOLOGY MEDICAL SUPPLIES

SOURCE: Benvenue Medical, Inc.

Copyright Business Wire 2018.

PUB: 09/13/2018 06:00 AM/DISC: 09/13/2018 06:01 AM

http://www.businesswire.com/news/home/20180913005235/en

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