Auctus joins the ranks of past medical device winners who each went on to generate significant traction and success. To name a few 2018 winners: Augmedics raised $15 million in Series B fundraising, Green Sun Medical raised $2.5 million in Series A funding, K2M Inc. sold to Stryker for $1.4 billion, and 2019 winner ControlRad raised $15 million in Series B financing.
The Auctus system was designed from the ground up with the guidance of an experienced group of pediatric orthopedic surgeons to specifically address the limitations of current tethering approaches. The Dynesys system from Zimmer received a Humanitarian Device Exemption late last year to become the the first commercially available VBT system in the United States. In contrast to the Zimmer system, the dynamic Auctus VBT system incorporates a magnetic adjustment system allowing for non-surgical adjustments of the implanted tethering system as well as a tether material with superior strength and handling properties.
According to Mohammad Diab, MD, Chief of Pediatric Orthopedic surgery at UCSF. “The Dynamic Auctus Tethering system has been developed specifically for non-fusion pediatric scoliosis correction, and will provide the adjustability needed to take the current tethering procedure options to the next level.”
Auctus serves as an active portfolio company of IntuitiveX, a premier leading life science technology incubator and consultancy. Auctus is currently filling out a $2.0M seed round to advance to first-in-mail clinical trials.
You can view Auctus winning the 2020 Best Technology in Spine Award here.
IntuitiveX is a life science consulting firm and incubator. With a team of life science entrepreneurs, investors, and innovators, IntuitiveX brings a combined 100+ years of experience in R&D, Clinical, Surgical, IP Strategy, Prototyping, Product Development, and Commercialization. We catalyze medical innovation by removing the complexities, cost barriers, and time sensitivities related to introducing new products into the market. From initial concept to final commercialization, IntuitiveX has the in-house knowledge and network to meet the unique needs of the most innovative life science companies in the world. With a portfolio spanning 12+ life sciences companies from spinal implant devices to AI/ML in surgical navigation, IntuitiveX is capable of generating millions in value, making the opportunity to diversify one's investment simple.
Auctus Surgical Contact:
John Barrett | CEO
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As seen on WFMJ: https://www.wfmj.com/story/42990054/auctus-surgical-awarded-2020-best-technology-in-spine-by-orthopedics-this-week