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SPINE-TECH ANNOUNCES $5 MILLION FINANCING

 MINNEAPOLIS, Jan. 11 /PRNewswire/ -- Spine-Tech, Inc., announced the closing of a $5 million financing. The financing included a large equity investment by Smith & Nephew Richards. David Stassen, Spine-Tech president, said, "This financing provides the needed capital to continue our clinical activities in the U.S., launch our products offshore and broaden our product line. In addition, we can finance the refinement of our laparoscopic spinal fusion procedure and tools for the BAK(TM) Interbody Fusion System."
 Spine-Tech, Inc., a privately held Minneapolis-based company, develops, manufactures and markets innovative surgical implants and investments for the treatment of diseases of the spine. Spine-Tech's initial product, the BAK Interbody Fusion System for treatment of chronic low back pain, is currently being evaluated in an FDA-approved multi-center clinical trial in the United States, and is being distributed internationally by Smith & Nephew Richards, Inc., of Memphis, Tenn.
 -0- 01/11/94
 /CONTACT: David W. Stassen, president and chief executive officer; or Keith M. Eastman, chief financial officer, 612-627-9631, both of Spine-Tech/


CO: Spine-Tech, Inc.; Smith & Nephew Richards, Inc. ST: Minnesota IN: MTC SU: FNC

CP-DB -- MN007 -- 1029 01/11/94 13:30 EST
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Publication:PR Newswire
Date:Jan 11, 1994
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