Intrinsic Therapeutics, Inc., a Boston, MA-based medical device company focusing on surgeries to treat leg and low back pain resulting from ruptured lumbar discs with large anular defects, raised $52m in growth equity financing.
The round was led by Questa Capital, with participation from existing investors New Enterprise Associates (NEA), Greenspring Associates, Quadrille, and Delos Capital. In conjunction with the funding, Ryan Drant, Founder and Managing Director of Questa Capital, will join Intrinsic’s Board of Directors.
The company intends to use the funds to accelerate commercial efforts in the United States.
Led by Cary Hagan, CEO, Intrinsic Therapeutics is a medical device company focused on delivering a safe treatment to improve outcomes in patients who are at a disproportionately high risk of requiring repeat surgeries due to reherniation following lumbar discectomy surgery.
The device has been studied in seven distinct patient populations. In a large randomized clinical trial, the Barricaid® device was proven to reduce reherniation, rehospitalization and reoperation rates.