Si-Bone, a San Jose, CA-based sacroiliac joint medical device company, raised $20m in funding.
According to a regulatory document filed with the SEC, nine unnamed investors participated in the offering.
Led by Jeffrey Dunn, President and Chief Executive Officer, and Mark A. Reiley, MD, Chief Medical Officer, Inventor & Founder, Si-Bone is dedicated to the development of tools and products for patients with low back issues related to certain SI joint disorders.
The iFuse Implant System is a minimally invasive surgical option that uses titanium implants coated with a porous, titanium plasma spray (TPS) that acts as an interference surface to decrease implant motion and allow for biological fixation to support long term fusion.
The system is intended for sacroiliac fusion for conditions including sacroiliac joint dysfunction that is a direct result of sacroiliac joint disruption and degenerative sacroiliitis.
The company received original 510(k) clearance in November 2008 from the Food and Drug Administration (FDA) to market the iFuse Implant System while the CE mark for European commercialization was obtained in November 2010.
UPDATE: The round was led by new investor Arboretum Ventures with participation from existing major investors.