DFINE Closes $25M Equity Financing
DFINE, Inc., a San Jose, CA-based developer of minimally invasive radiofrequency (RF) targeted therapies for the treatment of vertebral pathologies, has closed a $25m equity financing.
The first $15m portion of the two-tranche round has been drawn down.
The company intends to use the funds to advance clinical studies and expand marketing initiatives to launch its Spinal Tumor Ablation with Radiofrequency (STAR™) System later this year and in early 2012. The STAR system is a palliative treatment of spinal tumors, which has already received FDA 510(k) clearance.
DFINE will also allocate funds for other pipeline projects and the continued expansion of its sales organization.
Led by CEO Kevin Mosher, the company focuses on developing minimally invasive therapies for patients suffering from vertebral pathologies. Its devices are built upon an extensible radiofrequency (RF) platform that also covers the StabiliT® Vertebral Augmentation System and StabiliT® ER2 Bone Cement to repair fractured vertebrae.