Companion Spine announced today that it added $5 million to close its Series A financing round at $60.1 million.
The initial $55 million came in through fundraising announced in February 2022.
The French-American spine pain-management surgery company aims to address two large indications in the market. It seeks to treat lumbar spinal stenosis (LSS) and degenerative disc disease (DDD) without requiring spine fusion surgery.
Based in Bordeaux, France, and New York, Companion Spine focuses on interventional spine pain treatment. It develops revisable, minimally invasive implants centered around motion preservation. The company also offers precision diagnostics for comprehensive spine health throughout the care continuum.
Companion Spine said in a news release that its funding allows the introduction of its DIAM and LISA products. DIAM, the company’s flagship product, treats DDD. The company obtained LISA through its acquisition of French company Backbone earlier this year.
Additionally, Companion Spine expects to accelerate worldwide sales growth and advance its FDA premarket submission for DIAM and its APERIUS product.
Companion Spine focuses on interventional spine pain treatment with revisable, minimally invasive, implants, focused on motion preservation, and precision diagnostics to allow for comprehensive spine health through offering a total spine care continuum approach for patients, spine pain specialists, treatment centers, and payors.
Viscogliosi Brothers, Viscogliosi Brothers Watermark Holdings and Epimed International led the $5 million add-on round.
“The final closing of the capital raise supports our comprehensive solutions portfolio that precisely addresses, over time, the different stages and the multiple origins of back pain,” said Erick Cloix, Companion Spine CEO and co-founder. “Our unique portfolio of technologies enables interventional, earlier, safer, and scalable treatment to match the exact patient condition as it is today, or will be tomorrow, and after tomorrow.“