Vertos Medical, Inc. has completed a $15.5m Series D financing round led by new investor ONSET Ventures, with additional participation from existing investors CHL Medical Partners, Foundation Medical Partners, Aweida Venture Partners and DFJ Mercury.
Vertos is medical device company developing its mild procedure, an alternative treatment for a huge and underserved market of lumbar spinal stenosis (LSS) sufferers: those who are no longer responding to medical management, but who are not yet candidates for traditional invasive surgeries.
The proceeds will be used to continue U.S. commercialization of the company’s mild proprietary technology.
As stated by James M. Corbett, president and chief executive officer of Aliso Viejo, CA-based Vertos, “This sizeable financing is an important milestone for Vertos and demonstrates recognition of the market potential of our mild procedure”.
FinSMEs
19/10/2009