Shoulder Implant Co. OrthoSpace Raises $7M

| December 6, 2016 | Israeli shoulder implant medical device company OrthoSpace has raised $7 million in a financing round from new investor Johnson & Johnson Innovation and previous investors HealthpointCapital, Smith & Nephew and TriVentures. Led by Itay Barnea, CEO, Caesarea-based OrthoSpace produces InSpace, an orthopedic biodegradable balloon system that is a minimally invasive method for rotator cuff repair. The product, marketed in Europe, Israel, Russia and Hong Kong where 10,000 balloons have been implanted, is for patients who suffer from a rotator cuff injury, and reduces shoulder pain and improves the range of motion.