Scoliosis device maker SpineForm raises $1.25 million

The Cincinnati medical device company SpineForm has received $300,000 from the non-profit CincyTech, in addition to a $950,000 round of fund-raising through the Queen City Angels, Cincinnati Children’s Hospital Medical Center Tomorrow Fund and other investors.

The company, a spinoff from Cincinnati Children’s, has since 2005 been developing a “spine staple” to correct without surgery a curvature of the spine known as scoliosis. The device hopes to slow the effects of scoliosis for children and decrease the curvature as children get older.

SpineForm Chief Executive Joe Reynolds said the company will use this latest round of money to advance the technology and get the device to clinical trials. There is no timetable to begin clinical trials, Reynolds said.

This is the second round of fund-raising for the company. The latest raise started in February 2008, according to Security and Exchange Commission filings. CincyTech said most of the money in the round was raised last year.

SpineForm also raised about $600,000 in December 2006, according to the SEC.