The company will use the funds to develop and commercialise its minimally invasive diagnostic and therapeutic solutions in the US and globally to treat two main indications such as degenerative disc disease (DDD) and lumbar spine stenosis (LSS)
Companion Spine has secured funding to develop advanced interventional and surgery solutions for back pain. (Credit: kalhh from Pixabay)
Companion Spine has secured a $55m in series A financing round for the development and marketing of advanced interventional and surgery solutions for back pain.
Led by Viscogliosi Brothers, the financing round witnessed participation from a major global medical technology company.
Viscogliosi Brothers have established Companion Spine to help patients, spine pain specialists, treatment centres and payors to focus on spine pain treatment, motion preservation, precision diagnostics and interventional care.
Companion Spine will use the funds to develop and commercialise its minimally invasive diagnostic and therapeutic solutions in the US and globally.
The solutions are being developed to treat two main indications such as degenerative disc disease (DDD) and lumbar spine stenosis (LSS).
Companion Spine CEO and co-founder Erick Cloix said: “We are witnessing a paradigm shift in the management of spine pathologies, as many other healthcare sectors have experienced with the development of new technical and scientific innovations.
“Companion Spine is positioned to become a major actor of this change due to its unique focus and its comprehensive solutions which are adapted to the needs of patients and back pain specialists throughout their entire journey, aiming at precisely diagnosing and treating back pain earlier, for good, precisely, and efficiently.”
Companion Spine include medical and diagnostic solutions that are acquired from Medtronic in September 2020.
With more than 140 patents, the portfolio consists of six patent families, as well as an inventory of instruments and implants sets.
In 2023, two of Companion Spine’s products are anticipated to be commercialised in the US.
The DIAM implant has already secured CE mark approval to treat DDD. In October last year, it also achieved breakthrough device designation from the US Food and Drug Administration (FDA).
Companion Spine’s other product is an APERIUS intervertebral implant for the percutaneous treatment of lumbar stenosis.