Singapore: Trendlines portfolio firm ApiFix closes $5m Series B investment

Apifix image extracted from Facebook. Credit: ApiFix

ApiFix has closed a $5 million Series B investment led by Braun through its  lead position through B. Braun’s Aesculap  division, with a contribution of $2.8 million. SGX-listed Trendlines also participated in the investment.

ApiFix operates in the scoliosis device market, with its product being a minimally invasive, non-fusion spinal implant system for the correction of Adolescent Idiopathic Scoliosis (AIS). Traditional surgical correction is a highly invasive procedure involving fusion, which results in a rigid spine and low patient quality of life.

ApiFix CEO, Eran Feldhay, remarked: “This funding round will support our FDA submission in the coming months and assist the expansion of our clinical and commercial activities in Europe.”

Weighing in on the investment, Todd Dollinger, Trendlines’ Chairman and CEO, who also serves as chairman of ApiFix, observed that it “…positions ApiFix for accelerated growth and brings B. Braun’s substantial experience to ApiFix’s board of directors.”

The ApiFix system is implanted in a minimally invasive procedure and does not require fusion, thus maintaining spine flexibility and high quality of life. The global market for ApiFix is estimated to be over $1.15 billion. ApiFix received the CE Mark in 2012 and is marketing its device in Europe, with more than 100 operations performed to date with the ApiFix implant; first patients are now 4-years post-surgery.

The transaction reflects a partnership between Braun and Trendlines, which commenced in 2015. The two firms have established mutual deal flow to identify potential new investment opportunities and are working together in the establishment of incubators and collaboration in the development of new technologies, solutions, and products.

B. Braun invested approximately US$5 million in Trendlines as a cornerstone investor in Trendlines’ 2015 initial public offering in Singapore. Additionally, the two firms have executed a memorandum of understanding for co-investment in Trendlines Medical Singapore, Trendlines’ first incubator outside of Israel.

Prof. Dr. Hanns-Peter Knaebel, a member of the B. Braun Management Board and CEO of their Aesculap division, commented, “Our deep interest in innovation and in bringing disruptive products to patients and the medical community drives our internal R&D efforts and, as well, brings us to search the world for investment opportunities to achieve these same goals.”

“Our investment in ApiFix, a Trendlines portfolio company, further cements the B. Braun / Trendlines collaboration effort,” he adds,

Also Read: 

Singapore: Trendlines-Braun to operate medtech incubator targeting APAC

Israeli businesses are international from the start: Todd Dollinger, Trendlines

SG Digest: Exiger buys Poseidon; Trendlines-backed Vensica closes $500k round

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.