VertiFlex®, Inc., a San Clemente, CA-based developer of percutaneous and motion preserving spinal surgery technologies, completed a $14m equity financing with provision for an additional $14m investment within twelve months.
Existing investors Aberdare Ventures, Alta Partners and New Enterprise Associates were joined by new investor Thomas, McNerney & Partners.
In conjunction with the funding, James E. Thomas, co-founder and Partner of Thomas, McNerney & Partners, will join VertiFlex’ Board.
The company intends to use the capital to complete enrollment in the Superion Interspinous Spacer (ISS) IDE Trial in the U.S. before the end of 2011, and to advance global market development of the technology.
After receiving CE mark in 2007, the Superion Interspinous Spacer System has been implanted in over 1500 patients worldwide.
Founded in 2005, the company is led by President and CEO Earl R. Fender.