Spine startup gets $1M

Orthopedic Development Corp. is raising $1 million in venture financing to help market a device designed to improve on the old metal-rod-and-screw method of back surgery, VentureWire reports. The company's first product, TruFUSE, consists of a human-bone-based dowel inserted during surgery in the spine to help promote the fusion of wiggly joints. The company expects the round to close before year-end. www.odcsurgical.com