Archus Orthopedics, Inc, of Redmond, Washington, announced that it has closed a $35 million round of Series C financing, with the principal investors being Johnson & Johnson Development Corporation and DePuy Spine Inc of Raynham, Massachusetts.
Archus, the leader in facet arthroplasty, is conducting a US clinical trial of its Total Facet Arthroplasty Systemâ„¢ (TFASâ„¢), a patented spinal implant designed to treat spinal stenosis. The TFAS product replaces the degenerative facet joints with a prosthetic joint implant intended to restore stability and normal motion to the spine and eliminating the need for fusion. Collaboration is expected between Archus and DePuy Spine, the leader in disc arthroplasty, to develop total reconstruction of degenerative spine segments for motion restoration and joint replacement. DePuy Spine currently markets the only lumbar artificial disc approved for use in the US.
DePuy Spine Inc is an operating company of DePuy, Inc, a subsidiary of Johnson & Johnson. Other participants included the current investors, MPM Capital, InterWest Partners, and Polaris Venture Partners.
—A. Techman