A Medical Device Daily

Small Bone Innovations (SBi; New York) said that it has raised a total of $15 million of Series F Preferred shares. The Series F funding was led by a fund formed by Viscogliosi Brothers. Khazanah Nasional Berhad, the investment firm of the Government of Malaysia, NGN Capital and other existing investors participated in this round of financing as well.

Anthony Viscogliosi, SBi's chairman/CEO, said: “We are highly encouraged by SBi's favorable sales and business performance, given the state of affairs of the current orthopedic hip, knee and spine markets with declining procedure volumes and payor pushback. SBi's performance is quite the contrary with year-to-date revenues through November 2010 growing 36% in North America, 14% (constant currency) internationally and 28% (constant currency) worldwide. We have rising procedure volumes and more payors allowing coverage for approved medical use of our technologies. Especially, the STAR total ankle joint replacement system continues to gain traction in North America and internationally. We believe the STAR total ankle joint replacement system holds the leading market share position in the U.S. and globally.“

Small Bone Innovations is an orthopedics company focused exclusively on serving patients and their physicians with technologies and treatments for joint repair (arthroplasty) and trauma reconstruction around the small bone joints of the thumb, fingers, hand, wrist, elbow, toe, foot and ankle.

In other financings, BioClinica (Newton, Pennsylvania), a provider of clinical trial management services, said its board has authorized a share repurchase program of up to $2 million of the company's common stock over the next 18 months.

Repurchase under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws, including Rule 10b-18. The timing of the repurchases and the exact number of shares of common stock to be purchased will be determined by the discretion of the company's management, and will depend upon market conditions and other factors. The program will be funded using the company's cash on hand and cash generated from operations. The program may be extended, suspended or discontinued at any time.

BioClinica, a provider of integrated, technology-enhanced clinical trial management services, currently has 15.2 million shares of common stock outstanding.