By Lisa Kerner
Erie, Pa., Feb. 16 - Spine Wave, Inc., said it completed a new $36.5 million round of equity financing.
Proceeds from the financing will be used to further pursue Spine Wave's global clinical programs and in support of launching the company's first product, the StaXx XD Expandable Device.
The series C round was led by existing investor New Enterprise Associates with new investor Foundation Medical Partners. Also participating were existing investors Canaan Partners, Morgenthaler Venture Partners, Sprout Capital, Thoma Cressey Equity Partners, CHL Medical Partners and California Technology Partners.
Spine Wave is a medical device company focused on the development and marketing of clinical solutions for three spinal market segments: nuclear replacement and augmentation, vertebral compression fracture repair and spinal fusion. The company is based in Shelton, Conn.
| Issuer: | Spine Wave Inc.
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| Issue: | Series C equity funding
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| Amount: | $36.5 million
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| Investors: | New Enterprise Associates, Foundation Medical Partners, Canaan Partners, Morgenthaler Venture Partners, Sprout Capital, Thoma Cressey Equity Partners, CHL Medical Partners and California Technology Partners
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