The Atlanta, Ga.-based company offered equity in exchange for a minimum investment of $2,000 and 29 investors contributed to the round, beginning Feb 7.
The privately-held medtech company manufactures spinal fusion devices, including its Cohere cervical interbody fusion device. Cohere is the 1st porous all-PEEK (polyetherether ketone) interbody system to win 510(k) clearance from the FDA, Vertera reported, and it’s indicated for use in anterior cervical discectomy fusion procedures.
PEEK has been used for years in spinal implant devices. Vertera Spine developed PEEK Scoria, which is fabricated through a processing method that integrates a porous architecture with solid PEEK.
The company’s biomaterial has twice the shear strength of trabecular bone and facilitates bone tissue ingrowth, according to Vertera.
The porous PEEK Scoria tech also provides implants with expulsion resistance that is 70% higher than competitor PEEK Cages, the company said on its website.
Vertera’s Cohere cervical interbody fusion system is available for sale in the U.S. The company hasn’t formally said what it plans to use its newly-acquired funds for.