By Elaine Rigoli
Tampa, Fla., Sept. 27 - SpinalMotion has closed a series C round of financing, raising $20 million of additional capital.
Skyline Ventures led the round, joined by MedVenture Associates. Early investors Thomas Weisel Healthcare Ventures and Three Arch Partners also participated.
SpinalMotion said it continues to make significant progress on two U.S.-based Investigational Device Exemption clinical trials for the Kineflex lumbar disc and Kineflex/C cervical disc implants.
More than 550 patients are enrolled in the studies; more than 70% of the required number of patients.
In South Africa, nearly 850 lumbar discs and more than 350 cervical discs are implanted, bringing the total number of Kineflex discs implanted worldwide to more than 1,500.
In addition to its ongoing clinical trials, the company said it continues to work on its posterior lumbar disc.
Based in Mountain View, Calif., SpinalMotion is focused exclusively on spinal disc arthroplasty.
| Issuer: | SpinalMotion
|
| Issue: | Series C financing
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| Amount: | $20 million
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| Investors: | Skyline Ventures, MedVenture Associates, Thomas Weisel Healthcare Ventures and Three Arch Partners
|
| Announcement date: | Sept. 27
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