Benvenue Medical, Inc., a Santa Clara, CA-based developer of minimally invasive solutions for spine repair, completed $60m equity and debt funding round.
The financing is a combination of $23m in equity and $37m in debt.
The equity financing was provided by DeNovo Ventures, Domain Associates, Esquilime Partners, InterWest Partners, Technology Partners and Versant Ventures. CRG is the sole debt provider and also participated in the equity financing. In conjunction with the funding, Donald Milder, co-founder and managing director of Versant Ventures, will join Benvenue Medical’s Board of Directors.
Founded in 2004 and led by Robert K. Weigle, CEO, Benvenue Medical provides minimally invasive systems for spine repair that combine expandable implants with novel delivery instruments to provide enduring functional benefits for patients.
Its first products are the Luna® 3D Interbody Fusion System for treating degenerative disc disease and the Kiva® VCF Treatment System for treating vertebral compression fractures (VCFs).
The company intends to use the proceeds to accelerate U.S. commercialization activities for its two products.