Spineart, a Geneva, Switzerland-based spine specialist working with surgeons to accelerate the adoption of technologies, raised more thane CHF20M in convertible financing.
Approximately CHF16M of the funding was contributed by existing shareholders and employees, with the remaining portion sourced from new investors.
The company intends to use the funds to make investments in novel enabling technologies, continued follow-up of patients enrolled in the two BAGUERA®C IDE studies, the opening this summer of a new R&D and Training Center for Enabling Technologies in Dallas, Texas, and completion of a new 43,000sqft / 4,300 m2 factory currently under construction near Geneva by the end of 2024.
Led by CEO Jerome Trividic, Spineart works to address the changes of the healthcare industry by providing cost effective solutions, reducing the workflow complexity while increasing safety. The use of compact sets allows for reduced learning curve, decreased sterilization cost and better workflow. Its management allows to accommodate price pressure without compromising implant quality or investments in innovation.
The funding follows the completion of enrollment in the two BAGUERA®C IDE studies, underlining the company’s commitment to advancing spinal surgery through large scale investments in research and development.
FinSMEs
19/03/2024