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Barricaid (by Intrinsic Therapeutics) is an FDA-approved bone-anchored annular closure device implanted in 12,000+ patients; CMS raised its ASC reimbursement 46% in 2025; first awake-surgery and endoscopic implantations achieved in 2025.
Barricaid is the commercial brand name for the Barricaid Annular Closure Device (ACD), a medical device developed and marketed by Intrinsic Therapeutics, a clinical-stage medical device company. The Barricaid ACD received FDA premarket approval on February 8, 2019. It is designed to treat lumbar disc herniation by sealing tears in the annulus fibrosus — the tough outer layer of spinal discs — following discectomy (the surgical removal of herniated disc material). By closing the annular defect, Barricaid aims to contain remaining disc material, reduce the likelihood of reherniation, and alleviate nerve compression and back pain.
mRNA pioneer with $3.2B FY2024 revenue (down from $18.4B 2022 COVID peak); mRESVIA RSV vaccine approved 2024; personalized cancer vaccine with Merck shows 44% recurrence reduction in melanoma.
Moderna is a clinical-stage biotechnology company that pioneered the development of messenger RNA (mRNA) therapeutics and vaccines, founded in 2010 by Noubar Afeyan, Robert Langer, Kenneth Chien, Stéphane Bancel, and others in Cambridge, Massachusetts, where it is headquartered and trades on Nasdaq (MRNA). The company achieved extraordinary commercial success with Spikevax, its COVID-19 mRNA vaccine developed in partnership with the U.S. government in 2020—generating $18.4 billion in COVID vaccine revenues in 2022 at peak—before experiencing a severe revenue decline as global COVID booster demand normalized. For FY2024, Moderna generated approximately $3.2 billion in revenues, with Spikevax and the reformulated XBB.1.5-targeting COVID vaccine contributing the majority, while the company's significant R&D investment pipeline consumed most operating cash flows.
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