Spineology, a medical technology company known for its Conform and Expand technology, has raised $25m in Series AA financing.
The funding round was led by SV Health Investors, with contributions from 1315 Capital and existing investor RC Capital.
This injection is set to accelerate the deployment of Spineology's innovative OptiMesh technology to patients and clinical programmes nationwide.
Spineology chief executive officer Brian Snider said: “We are thrilled to welcome SV Health Investors and 1315 Capital. This infusion of capital allows us to provide our offering more rapidly to patients and clinical programmes across the country.
“OptiMesh’s powerful distraction forces and conformance to the endplates provide strength and stability to restore disc height, achieve alignment goals, and promote robust fusion. It is evident that surgeons and patients desire less disruptive options to treat spinal disorders, further accelerating our opportunity.”
Annually, around 400,000 lumbar interbody fusion procedures are performed in the US. OptiMesh is claimed to be the only in situ patient-specific, expandable implant available in the market.
It is designed for delivery via the smallest insertion portal in the lumbar interbody market and conforms to each patient’s distinct endplate morphology. Besides, it accommodates multiple lumbar fusion approaches, thereby offering a tailored solution for each patient's needs.
The ultra-minimally invasive approach of OptiMesh aims to provide patients with faster post-operative healing and a quicker return to high quality of life. The technology is supported by IDE-level data and carries the only de novo grant for spinal fusion.
Spineology executive chairman Tom Patton said: “Spineology's OptiMesh technology is disrupting the industry for the better. Backed with IDE-level data, this is an implant category of its own. We look forward to tremendous growth ahead bringing this unique offering to more hospitals and surgery centres in the US.”
OptiMesh is touted as having the highest achievement in clinical validation with an IDE-level grant. It is claimed to be further distinguished in the interbody fusion space by over two decades of clinical experience, 20 clinical publications, and more than 50,000 procedures.
