SI-BONE, Inc., a San Jose, California-based medical device company, has closed a $16.0m financing round.
The round was led by Montreux Equity Partners, with participation from Skyline Ventures.
The company intends to use the funds for expansion of clinical and commercial operations including ramp up its iFuse Implant System, a minimally invasive surgical (MIS) device to treat the sacroiliac (SI) joint pathology.
iFuse is commercially available in the U.S. for treatment of conditions including sacroiliac joint disruptions and degenerative sacroiliitis. The procedure uses a minimal incision for delivery and implantation of small, titanium implants, which are coated with a porous plasma spray that acts as an interference surface, designed to help decrease implant motion.
In conjunction with the funding, John Savarese, M.D., Managing Director at Montreux, will join SI-BONE’s Board of Directors. The company is led by CEO Jeff Dunn.