Equinext receives local funding to test device for equine leg injuries
LEXINGTON, Ky. (Dec. 5, 2011) — UK spinoff company, Equinext, began testing its device to treat equine tendon and ligament injuries using funds raised entirely from local Kentucky investors. Equinext recently closed an $850,000 Series A investment round and began the initial work on their clinical trial with strategic partner Hagyard Equine Medical Institute.
Investors include UK through Kentucky Technology Inc., the Bluegrass Angels, two state funds, and the local equine industry.
Equinext is a spinoff of Orthopeutics-Intralink Spine recruited to Lexington last year and located at Coldstream Research Campus. Tom Hedman, who developed the technology as a treatment for Degenerative Disc Disease and related lower back pain, has a joint appointment at UK in neurosurgery and biomedical engineering.