OsteoVantage™ Receives Grant from the National Science Foundation
Medical Instrumentation Company to Develop Unique, Bone-Building Technology to Improve Spine Treatment
FAYETTEVILLE, Ark.– JANUARY 1, 2013 – OsteoVantage, Inc. received a National Science Foundation Phase I Small Business Innovation Research grant of $150,000 for development of a specially designed screw used in lower back fusion surgery. The screw itself is not only the all-important anchor for OsteoVantage’s unique hardware design, but it is also designed to stimulate the body’s own bone-building machinery. With OsteoVantage’s innovative technology, bone fusion is faster, stronger, and less likely to fail over time.
Injuries to the back and spine represent the leading cause of lost productivity in the United States. For serious conditions, spinal fusion surgery has become the approach of choice. Between 1998 and 2008, the annual number of spinal fusions in the United States increased from 174,000 to 413,000 and the national bill for spinal fusion increased 7.9-fold. Although successful spinal fusion surgery can significantly improve quality of life, failure rates have been reported to be as high as 40%.