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.

Backers incluse existing investors OrbiMed Advisors, Prospect Venture Partners, Split Rock Partners, BBT Fund/Apothecary Capital, Highland Capital Management, and Vanguard Ventures.

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 (STARā„¢) System later this year and in early 2012. The STAR system is a palliative treatment of spinal tumors, whichĀ has already received FDA 510(k) clearance.

DFINEĀ 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 invasiveĀ therapies for patients suffering from vertebral pathologies. Its devices are built upon an extensible radiofrequency (RF) platform that also covers the StabiliTĀ® Vertebral Augmentation System and StabiliTĀ® ER2 Bone CementĀ to repair fractured vertebrae.



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