Vertos Medical, Inc., an Alisa Viejo, California-based developer of minimally invasive treatments for lumbar spinal stenosis, closed a $28m financing round.
The round was led by MVM Life Science Partners with participation from existing investors Leerink Revelation Partners, Pitango Venture Capital, ONSET Ventures and Aweida Venture Partners. In conjunction with the funding, Hugo Harrod, a partner at MVM, will join Vertos Medical’s board of directors.
The company intends to use the funds to expand commercialization of its proprietary mild® procedure and to support physician training and education designed to expand access to the novel treatment for appropriate patients.
Led by Eric Wichems, President and CEO, Vertos Medical is a medical device company committed to developing innovative, minimally invasive treatments for lumbar spinal stenosis (LSS). Its proprietary technologies include mild®, which offers a safe, outpatient, minimally invasive, fluoroscopically guided therapeutic LSS treatment that requires no general anesthesia, no implants, and no stitches.
The mild procedure treats this condition by restoring space in the spinal canal using specialized devices to remove hypertrophic ligamentum flavum through a 5.1-mm treatment portal.