Spinal Stabilization Technologies today reported raising more than $11 million for its lumbar disc replacement device.
San Antonio, Texas-based SST is developing the PerQdisc device to treat degenerative disc disease of the lumbar spine in adults. The device consists of two separate, inflatable chambers designed to replace the degenerated disc. After placement the inner chamber is first inflated with a radiopaque contrast media before the outer chamber is filled with a polymer, according to the company’s website. A 34-patient clinical trial, Nucleus 161, is under way in Europe, SST said.
Beginning August 16 the company raised $11.2 million in an equity offering from nine unnamed investors, according to a regulatory filing. SST hopes to drum up a total of $15 million, according to the filing.