Providence Medical Technology, Inc., a Walnut Creek, CA-based developer of tissue-sparing, cervical-fusion technology, closed a $10.5m equity financing.
The round was led by new investor MVM Life Science Partners (and will join the Providence Board of Directors) with participation from Stanmore Medical Investments, Aphelion Capital, and existing private investors.
The company intends to use the proceeds to further commercialize and expand its portfolio of cervical-fusion technology.
Led by Chief Executive Officer Jeff Smith, Providence Medical Technology is a medical device company developing innovative solutions addressing the cervical spine market. The company is focused on commercializing the DTRAX platform of single-use, tissue-sparing instruments and CAVUX implants for cervical fusion, as well as other technologies that improve cervical spine procedures for both physicians and patients.
Its family of cervical-fusion products now includes DTRAX® Spinal Systems, CAVUX™ Cervical Cages, ALLY™ Screw Systems, and BIOLOGIX™ Allograft Bone.