Healthcare Industry News: vertebral compression fractures
News Release - July 7, 2010
DFine, Inc. Announces Close of $36 Million FundingProceeds Support Continued Global Expansion and Commercialization of New Technologies
SAN JOSE, Calif.--(HSMN NewsFeed)--DFine, Inc., developer of minimally invasive solutions for treating vertebral pathologies, announced today the closing of a $36.2 million round of equity financing. The round was led by new investor Split Rock Partners. Funding was also contributed by new investor OrbiMed, and inside investors Prospect Venture Partners, Vanguard Ventures, BBT Fund/Apothecary Capital, Highland Capital Management and several private investors. In connection with this financing, Josh Baltzell of Split Rock and Jonathan Silverstein of OrbiMed will join the board of directors.
“We are excited to join DFine as an investor. We believe the Company’s StabiliT® System is a novel therapy that provides clinical benefit to the growing population of patients with vertebral compression fractures while potentially reducing physician exposure to radiation,” said Josh Baltzell, Managing Director, Split Rock Partners.
“We are very pleased to add Split Rock and OrbiMed as our new partners. Given the current economic uncertainty in the markets, their confidence in our company represents a significant validation of our people, our technology and the value proposition of our products,” said Kevin Mosher, Chief Executive Officer of DFine, Inc. “This funding will enable us to put additional resources in the field to support the growing demand for our StabiliT® Vertebral Augmentation System, and to accelerate the commercialization of several promising products in our pipeline.”
Based in San Jose, CA, DFine, Inc. is a privately held medical device company dedicated to improving patient quality of life through the development of innovative, minimally invasive therapeutic devices used to treat pathologies of the vertebrae. DFine, Inc. is the developer of Radio Frequency (RF) Kyphoplasty, a novel approach to stabilizing vertebral fractures, relieving pain and improving patient quality of life. Commercially available through the company’s flagship StabiliT® Vertebral Augmentation System, RF Kyphoplasty provides physicians greater control in the treatment of vertebral compression fractures through site and size specific cavity creation, ultra high viscosity bone cement with extended working time, and its unique, remotely controlled cement delivery system. For more information, visit www.dfineinc.com.
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