Gornitzky together with DLA Piper represented SeaSpine in an agreement to acquire the assets of NTL Spine, an expandable interbody platform technologies company.
In the acquisition, most of NTL Spine’s assets will be transferred to SeaSpine. NLT Spine will receive an initial payment of USD 1 million and further payments in stock conditional upon meeting milestones, and altogether, stands to receive USD 5 million in milestone payments and up to USD 43 million in royalties. NTL Spine was founded by Dr. Tzony Siegal in 2006. It is a graduate of the Incentive incubator in Ariel, and among its later investors are Accelmed and Peregrine Ventures. NLT president and CEO Didier Toubia said that the company sees SeaSpine as the ideal partner to lead NTL’s innovative solutions in the market.
SeaSpine was represented by Chaim Friedland (partner). Yoni Raff, Avi Meer and Daniel Skald.