Thursday, September 3, 2009

Another One Bites the Dust! Archus going, going, gone!

On August 21st, 2009 Archus filed a notice of dissolution in the Office of the Secretary of the State of Delaware. The Certificate become effective that day.

All claims or potential claims must be presented in writing and contain sufficient information to inform Archus (James Fitzsimmons, CEO) of the identity of the claimant and the substance of the claim. All claims must be received by October 28th, 2009. A copy of the claim should be addressed to Archus c/o James Fitzsimmons and Cooley, Godward, Kronish, LLP, Attention J. Michael Kelley, 101 California Street, 5th Floor, San Francisco, CA 94111-5800.

Since the Spine Blogger has been involved with product development, one question must be posed to our readers, how does anyone "burn" through $63 million dollars in eight years? How much of this capital was spent on wasteful pre-revenue marketing? How much was spent on creating the "buzz?" How many people gambled their careers on hitting a grand slam? Is this a sign of things to come for companies like, Disc Motion Technologies? Impliant? Facet Solutions? How many years does it take to realize that your device is being driven up a dead-end street? How many surgeon consultants don't have the nerve to tell the company that the product will not work? Based on recent reports, there are private equity investors willing to invest in medical device companies, unfortunately or fortunately, they are not hardware based. The Spine Blogger wants to know if anyone has heard anything else on the street?

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