Progentix Orthobiology B.V. (Bilthoven, The Netherlands ) announced that it has closed an investment agreement with NuVasive, a medical device company that develops products for minimally disruptive surgical treatments for the spine. Under the terms of the agreement NuVasive will gain access to Progentix’ synthetic bone substitutes designed to accelerate bone healing through a novel micro-structure created by a proprietary manufacturing process. NuVasive’s initial commitment will be $15 million in cash, consisting of a $10 million equity purchase from Progentix shareholders and a $5 million loan used to fund ongoing clinical and regulatory efforts. Upon accomplishment of the complete set of pre-defined development milestones, NuVasive will be obligated to purchase the remaining equity of Progentix for $45 million, and, upon the achievement of additional milestones and NuVasive’s sales success, pay a maximum earn-out of $25 million. In addition, NuVasive obtained exclusive worldwide distribution rights as well as an exclusive option to purchase all of Progentix under certain circumstances.