Medical Benvenue, Inc. , a developer of minimally invasive spine repair solutions, announced the completion of the $25 million Series D funding round. The spine company intends to use the proceeds to sustain the global commercialization of its three breakthrough minimally invasive products for the treatment of degenerative disk disease (DDD) with spinal fusion and vertebral compression fractures (VCFs), as well as additional initiatives to bring its fusion and VCF products to the US market.
Series D financing was completed by existing investors DeNovo Ventures, Domain Associates, Technology Partners and Versant Ventures. “Our investors share our enthusiasm for our rapid growth and positive momentum, and we welcome their continued support for our vision and progress,” said Robert Weigle, CEO of Benvenue Medical.
“Benvenue is an innovative spine company with a high-quality team. We expect this new capital infusion to bring the company to the next level of growth and commercial success,” said Nimesh Shah, principal at Domain Associates.
Benvenue Medical has entered the $9 billion global spine device market with its three minimally invasive VCF and DDD products.
The Kiva VCF Treatment System, commercially available in Europe, has now been used to treat more than 800 VCFs worldwide. Kiva is distributed in Europe by Zimmer Spine On the U Oh, S The Kiva VCF Treatment System is being evaluated in the KAST (Kiva® System as a Vertebral Augmentation Treatment-A Safety and Effectiveness Trial) clinical trial, which is being conducted in support of 510(k) U market clearance. Oh, S Administration of Food and Drugs (FDA) KAST is the largest randomized study to date compared to the current standard of care, Balloon Cyphoplasty, in VCFs.
The BlazerTM Vertebral Augmentation System, also used in the treatment of VCFs, is the first clinical product in the Benvenue Medical portfolio to be commercially available in the U Oh, S Together, Kiva and Blazer will be able to treat the majority of patients with VCFs who are common to osteoporosis. The National Osteoporosis Foundation estimates that there are 700,000 osteoporosis-related vertebral compression fractures in the U annually. Oh, S Alone, yet 200,000 typhoplasty procedures are carried out globally.
Benvenue Medical’s LunaTM Interbody Spacer System for spinal fusion procedures was approved by CE Mark in 2010. Patients are currently enrolled in the European post-marketing study Luna Interbody System for Fusion Trial (LIFT) After registration in the LIFT study, the Luna Interbody Spacer System will be commercially available in the EU. Currently, this device is not available in the United States and the company intends to submit 510(k) to the United States later this year.
Benvenue Medical, Inc.
Benvenue Medical, Inc. was founded in 2004. Advance spine repair through the development of proprietary, minimally invasive surgical and interventional solutions. The company is privately owned and financed by Versant Ventures, DeNovo Ventures, Domain Associates and Technology Partners. Its first products are intended for the treatment of vertebral compression fractures and degenerative disk disease with a combined revenue of $1. Globally, 6 billion
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