Taylor Wessing advises on £4m spinal investment

28-Jun-2005  |  Corporate, Employment & Pensions, Life Sciences & Healthcare, Technology

Taylor Wessing advised FNI Venture Capital on its investment of £4m in a second institutional financing round for Ranier Technology, a Cambridge-based medical device development company. 

FNI Venture Capital was also an investor in Ranier's first financial round in 2002, on which Taylor Wessing also advised.  The financing from this second round will be used to further develop Ranier's patented spinal disc implant, CAdisc, through clinical trials.

The CAdisc total disc replacement device is designed to replace diseased spinal discs associated with debilitating back pain and bring relief and a normal quality of life to sufferers worldwide.  The spinal implant market is estimated at over $3.7 billion per year, with an annual growth rate of 12%.

The Taylor Wessing team advising FNI Venture Capital comprised David Mardle and Susanna Stanfield (corporate), and Rowena Davis (employment).

Ranier Technology was advised by Hewitsons.

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