Mike Lewis, CEO and Chairman of Ranier said, “This now gives us the ability to expand our PPM offering beyond replacement spinal discs and commercialise our other next generation spinal implants. We are also excited by our recent co-development agreements for medical, non-spinal applications that will exploit our novel materials and manufacturing processes”.
Background notes
Spinal Discs and disease
Nearly 2 million people worldwide are treated for spinal disc defects annually and 50% require some structure to be inserted or implanted. Over 7 million work days were lost in the UK from back pain related illness in 2011. Back pain is the second most common cause of illness and time off work.
Who is Ranier?
Ranier Technology, based in Cambridge, UK, is a materials science and medical device innovator that has developed a novel, proprietary PPM (Precision Polyurethane Manufacturing) technology.
What is the innovation?
PPM can be used to in a wide variety of applications where load sharing is required. The technology is being evaluated in medical and non-medical fields and has already been incorporated into the Cadisc™ range of replacement spinal discs which are able to mimic more closely the properties of the native spinal disc.
What products are available?
The first two products have received CE marks and are already being promoted in Europe, the Middle East and Asia and have been used by world renowned surgeons. Clinical studies have shown that the Cadisc™ products have reported highly significant improvements in pain relief, mobility and quality of life very soon after implantation.
What is the future for the technology?
Ranier is already in co-development work with several medical device companies to build PPM technology into other orthopaedic applications. Ranier is also exploring the use of PPM in non-medical applications in the consumer markets and is interested in exploring other avenues.
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Contact:
Louisa Harris, Marketing Communications Manager
+44 1223 707866
louisa.harris@ranier.co.uk
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Ranier closes additional $5M investment funding round
26 September 2012
Materials technology and medical device manufacturer, Ranier Technology Limited, Cambridge, has closed a further $5M funding round, which was fully funded by existing investors.