Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Spinal Motion: Series B financing of $20 mil. will fund enrollment of the firm's SpinalMotion Kineflex lumbar disc and SpinalMotion Kineflex-C cervical disc U.S. clinical trials, President & CEO David Hovda says. The lumbar disc study, to take place at 25 centers, will seek to prove SpinalMotion Kineflex is substantially equivalent to Johnson & Johnson/DePuy's Charité - currently the only FDA-approved artificial spine disc (1"The Gray Sheet" Jan. 17, 2005, p. 15). The cervical disc trial will involve 20 sites and compare the Spinal Motion product to spinal fusion. Three Arch Partners and Thomas Weisel Healthcare Venture Partners participated in the funding round...