SeaSpine Holdings Corporation (NASDAQ: SPNE) saw its shares climb on new product developments.
The company, a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced the FDA 510(k) clearance of its 7D Percutaneous Spine Module for minimally invasive surgery. This represents a new application and increased functionality for its 7D Flash™ Navigation System.
This news follows SeaSpine’s recent acquisition of 7D Surgical, a Toronto-based company that develops advanced optical technologies and machine vision-based registration algorithms for surgical navigation to improve patient care. The Company is preparing a limited release of the Percutaneous Spine Module in the third quarter.
"We are extremely excited to achieve FDA clearance and eager to deploy our Percutaneous Spine Module," said Beau Standish, President of Enabling Technologies at SeaSpine.
"This new application will help address an important part of the spine navigation market and will nicely round out our FLASH Navigation Spine portfolio. We anticipate this MIS application to be a valuable enhancement for both ambulatory surgery centers and hospitals. I’m very proud of what our team has accomplished thus far, but this is still just the beginning of where we will take our machine vision technology in the future."
The 7D FLASH Navigation System uses visible light to create a three-dimensional image for surgical navigation in just seconds, which is expected to result in shorter and more efficient spinal procedures.
SPNE shares hiked 80 cents, or 4.3%, to $26.54.
