Ranier is a medical device company which is developing next-generation total replacement lumbar and cervical spinal discs (TDR’s) for the treatment of Degenerative Disc Disease (DDD). DDD is a leading cause of back pain and the most common disorder of the lower spine, affecting about 50% of people over the age of 40 years. The Ranier devices are highly differentiated second generation compliant discs, which uniquely recreate the natural biomechanics of the spine and provide shock absorption and compliance similar to a natural disc.

First generation discs for the lumbar region have been introduced in the US,  but have intrinsic limitations due to their lack of shock absorbing properties and non-physiological motion which can lead to accelerated degeneration of adjacent discs, and unsatisfactory long term clinical efficacy and further surgery. There is an expectation within the orthopaedics industry that future generation compliant, shock absorbing discs will rapidly replace first generation discs as they will offer better patient outcomes, and it is this emerging opportunity that Ranier is addressing.

To fund the development of the disc and further medical trials, Ranier appointed FirstCapital to assist the business in raising finance. A detailed investment memorandum, financial model and exit study were prepared that highlighted Ranier’s potential and the opportunity it is addressing. After approaching investors in both Europe and the US, a competitive environment was created that allowed the company to select its preferred investor and rapidly close a round of $16mn from Alliance Trust Equity Partners (ATEP) and existing investor FNI Venture Capital (managed by First Ventures).

www.ranier.co.uk

Testimonials

"FirstCapital ran a tight, efficient and entirely complimentary process, all the way from developing strategy and producing the marketing materials, through investor selection and management and onto deal negotiation and completion. Jason and his team shouldered the bulk of the load throughout, kept me well informed and managed expectations on both sides so that a good deal became inevitable in a reasonable timescale without major management distraction. I would recommend FirstCapital without reservation"
Geoffrey Andrews, Founder, CEO, Ranier