Healthcare Industry News: DFINE
News Release - October 28, 2008
DFine Secures $30 Million in Series D Funding
Investment Will Help Drive Advancement of Vertebral Compression Fracture Treatment Using Ultra-High Viscosity Energy Responsive Bone CementSAN JOSE, Calif., Oct. 28 -- (Healthcare Sales & Marketing Network) -- DFINE, Inc., a developer of minimally invasive solutions for treating vertebral compression fractures (VCFs), has secured a $30 million round of investment in its Series D funding led by BBT Fund LP and Highland Capital Management. Other investors include Prospect Venture Partners and Vanguard Ventures.
DFINE is dedicated to developing treatments for VCFs that relieve pain and improve quality of life for patients. More than 700,000 new VCFs occur every year in the United States due to osteoporosis, tumor growth and traumatic injury, accounting for nearly 150,000 hospital admissions and resulting in close to $1.6 billion in annual costs.(1)
The growing U.S. elderly population, particularly Baby Boomers, is increasing the need for new treatments of VCFs to meet their demand for an active lifestyle. In addition, in the United States alone, there are an additional 440,000 osteoporotic-related fractures that go undiagnosed each year.
"Minimally-invasive vertebral compression fracture procedures are a rapidly growing area of the spine market as physicians and patients look for treatments that are safe, effective and improve their quality of life," said Ryan Perras of BBT Fund LP. "Our investment recognizes DFINE's unique technology and commitment to innovation and patient care that will drive it to succeed in this market."
Minimally invasive treatment of VCFs, percutaneous vertebral augmentation (also known as vertebroplasty or kyphoplasty), require placement of bone cement into the fractured vertebra. Percutaneous vertebral augmentation offers many benefits compared to a conventional surgical approach including reduced procedure time, shorter hospital stays, shorter recovery period and the elimination of brace usage.
"We saw an opportunity to help streamline the vertebral augmentation procedure while enabling physicians to control the delivery of cement for optimized patient outcomes," said Csaba Truckai, president and chief executive officer of DFINE. "We are delighted with the continuing support of our investors. With this investment, we will be able to commercialize the StabiliT Vertebral Augmentation System which we believe will redefine the way vertebral compression fractures are treated, offering benefits to patients and physicians alike."
DFINE is led by a dynamic management team and board of directors whose collective experience spans across all aspects of the medical device industry and interventional neuroradiology, neurosurgery and orthopedic surgery.
About DFINE
DFINE, Inc., a privately held medical device company based in San Jose, Calif., is dedicated to advancing minimally invasive solutions for treating vertebral compression fractures and other spinal disorders to improve quality of life. DFINE's innovative system provides physicians with a precise means of delivering ultra-high viscosity bone cement to fractures of the spine in an effort to relieve pain and improve patient outcomes. The company's products include the StabiliT(TM) Vertebral Augmentation System and StabiliT(TM) ER Bone Cement, a proprietary energy responsive polymethylmethacrylate (PMMA) formulation. For more information, visit http://www.DFINEinc.com.
(1) Cooper, Grant. Nonoperative treatment of Osteoporatic Compression
Fractures. eMedicine, http://www.emedicine.com/pmr/TOPIC238.HTM#section~Introduction
Source: DFine
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