BioArctic founds SpineMedical AB

SpineMedical AB is a 100 percent owned subsidiary to BioArctic Neuroscience AB. The company was founded to bring the new treatment and product for complete spinal cord injury to the world market. The company’s main focus initially will be to drive the clinical development of the product which has been granted Orphan Drug Status in both EU and US.

The company will continue to develop its R&D pipeline to build value for the shareholders with new products based on its existing experience with biodegradable devices and FGF1. One product which is in early preclinical testing is a device for treatment of peripheral nerve injuries which is a vast market. The company intends to develop the current product for complete spinal cord injury into the segment of incomplete spinal cord injuries as well as a treatment for older injuries which is a 2.5 million patient market.