Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), a global leader in innovations for active healing, has completed a strategic investment in Trice Medical, Inc., a company focused on developing and commercializing minimally invasive technologies for sports medicine and orthopedic surgical procedures.
In conjunction with Bioventus leading the Series D funding round, the Company will receive exclusive sales and distribution rights to Trice’s products outside of the US.
Bioventus and Trice have also agreed to enter into a co-development arrangement to
explore the integration of Trice technologies with Bioventus’ current and future peripheral nerve stimulation (“PNS”) offerings of StimRouter® and TalisMannTM in order to accelerate adoption of both companies’ products.
Trice, founded in 2011 and based in Malvern, Pennsylvania, combines their handheld arthroscope and portable ultrasound visualization technologies with the company’s differentiated surgical devices to treat a range of sports medicine and orthopedic conditions, including tendinopathy, planter fasciitis and carpel tunnel, in order to improve patient recovery time, reduce pain, minimize scarring and move surgical procedures out of higher cost points of care.
“Trice’s established and growing presence in sports medicine and orthopedics is directly aligned with our strategy of expanding our offerings across these core Bioventus call points,” said Chris Yamamoto, Senior Vice President of Business Development & Strategy, Bioventus.
“Our investment will not only fund the ongoing growth of Trice, but also is expected to allow both companies to further validate the merits of a combination.”
In connection with the investment, Yamamoto has been elected to serve on the Board of Trice. Terms of the investment were not disclosed.