Benvenue Medical, Inc., a Santa Clara, CA-based developer of minimally invasive solutions for spine repair, completed a $35.5m Series C round of financing.
The round was co-led by new investors Domain Associates and Technology Partners, with participation from existing investors Versant Ventures and DeNovo Ventures.
The company intends to use the funds to complete enrollment and patient follow-up in KAST trial (Kiva® System as a Vertebral Augmentation Treatment – A Safety and Effectiveness Trial), and begin multiple spine product commercialization initiatives in the U.S. and Europe.
The Kiva system offers a solution to the treatment of Vertebral Compression Fractures (VCFs) due to osteoporosis and benign and/or malignant lesions.
It has now been used to treat over 450 vertebral compression fractures globally.
In conjunction with the funding, Nimesh Shah, principal at Domain Associates, and Roger Quy, general partner of Technology Partners, will join Benvenue Medical’s Board of Directors.
Founded in 2004 and led by CEO Robert Weigle, Benvenue Medical is entering a $9bn global spinal device market with three minimally invasive products to treat vertebral compression fractures (VCFs) and degenerative disc disease (DDD).