The Trendlines Group has typically realised its investments in start-ups through exits whereby it receives one-time payments from acquirers.
-- Todd Dollinger (photo),
Chairman and CEO of Trendlines. “We are very pleased that the product launch is on-time and rapidly moving forward... The royalty stream which is scheduled to begin in 2018 when sales commence should contribute positively to our cash flow position in the future."
There was one exit in 2014 which was an asset sale only. The start-up has since been identified only as the "Most Valuable Portfolio Company".
Its product (which is not revealed except for it being a medical device) will enter into production next year and Trendlines will receive royalty payments from its sales.
At the time of the asset sale, Trendlines received cash payment and has, since Nov 2014, received milestone payments totalling US$1.6 million as well.
Trendlines, in an update, said the acquirer of its Most Valuable Portfolio Company is currently establishing a high-volume manufacturing facility.
As Trendlines and the Most Valuable Portfolio Company are bound by a confidentiality agreement, additional details of the agreement cannot be disclosed.
|“10 companies to watch” report on its portfolio companies.
One of them -- which has received substantial investment from third parties -- is ApiFix, which has developed a minimally invasive device to treat scoliosis.
ApiFix has stated that its device is far superior to the conventional method for the correction of Adolescent Idiopathic Scoliosis (AIS).
Worldwide, there are approximately 126,000 scoliosis procedures per year, of which 40,000 are AIS, representing a US$2.4 billion implant market.
♦ Funding to date: US$7.8 million, including from strategic investor B. Braun
♦ 4 distribution agreements executed (UK, France, Turkey, Mexico), sales have begun
♦ 3 granted U.S. patents (1 in national phase)
♦ CE Mark certification received allowing European sales
♦ Performed over 150 surgeriesTrendlines has issued its first