Innovative Spinal Technologies Inc., former maker of spinal devices, has closed its website and did not return DOTmed staff phone calls. A former board member said several founders reported the firm shut down last week.

As added evidence to the claim, Xconomy, a Boston business website that covers technology and life sciences companies, said the company was forced to close after a deal collapsed to sell itself to Biomet Spine of Parsippany, N.J.

In 2007, the company was thriving and raised $75 million in funding with more than 100 employees. Since then, IST had gradually trimmed its staff down to 80 employees according to the new 2008 New England Technology Directory.

A spin off of the Texas Back Institute, IST once attracted a number of investors, including OrbiMed Advisors LLC, JP Morgan, and MPM Capital.

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