Healthcare Industry News: Spine Wave
News Release - February 16, 2006
Spine Wave Closes on $36.5 Million FinancingSHELTON, Conn.--(HSMN NewsFeed)--Feb. 16, 2006--Spine Wave, Inc., a developer of advanced materials, techniques, and implant systems for spine surgery, today announced the completion of a new $36,500,000 round of equity financing. The Series C round was led by existing investor New Enterprise Associates with new investor Foundation Medical Partners. Also participating in the financing were existing investors Canaan Partners, Morgenthaler Venture Partners, Sprout Capital, Thoma Cressey Equity Partners, CHL Medical Partners and California Technology Partners.
Ryan Drant, who represents NEA on the Spine Wave board of directors, commented, "Mark and the experienced team at Spine Wave have made excellent clinical development progress with products for three different large-market clinical indications: lumbar fusion, vertebral compression fracture repair and disc repair. We are pleased to work with this strong management team and to play a part in funding Spine Wave to bring these exciting new products to market."
About Spine Wave:
Spine Wave is a medical device company focused on the development and marketing of clinical solutions for three of the largest and fastest growing spinal market segments: nuclear replacement and augmentation, vertebral compression fracture repair and spinal fusion.
The company's product portfolio includes the NuCore(TM) Injectable Nucleus, the StaXx(TM) FX Fracture Repair System, the StaXx(TM) XD Expandable Device, and several products in development.
For more information, visit Spine Wave's website at www.spinewave.com.
Source: Spine Wave
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