INNOVATIVE SPINAL TECHNOLOGIES RAISES $39M

Innovative Spinal Technologies, Inc., a privately held medical technology company that develops minimally invasive treatments for spinal disorders, said Tuesday that it closed a $39 million Series B financing. The funding includes a team of investors led by OrbiMed Advisors, MPM Capital, and JPMorgan Partners. The financing will be used to expand Boston-based IST's work force and further develop spinal devices.

Boston Business Journal (http://boston.bizjournals.com/boston/stories/2005/08/01/daily15.html)