New medical device company Viseon Spine closed its $5.0 million Series-A financing to fund product development, regulatory approvals, clinical evaluations and manufacturing and commercialization efforts, the company announced today.
HBM-MedFocus, Invus Opportunities Fund and affiliates of Wexford Capital LP led the financing round.
“We are very pleased to have the support from our investment partners as we build out our proprietary technology comprised of state-of-the-art visualization and illumination technologies for use in minimally invasive spine surgery (MISS) procedures,” president and CEO Jeffrey Valko said in a press release.
In the past six months since it was founded, the Irvine, Calif.-based company developed medical devices to improve the procedural and clinical outcomes of minimally invasive spine surgeries and completed a series of pre-clinical studies supporting human use.
“Our single-use, disposable MISS access devices will disrupt the way many MISS procedures are performed, including the displacement of the large, complex, capital equipment currently being used in operating rooms today,” Valko said.
Viseon expects its technology to be adapted for a range of applications including posterior cervical, thoracic and lumbar procedures to replace the surgical microscopes and endoscopes currently used. It can also be applied to more advanced lateral access MISS procedures, which afford limited visualization.
“The disposable products developed by Viseon will reduce the burdens of high capital equipment cost, OR footprint, maintenance and calibration expense, OR scheduling, sterilization risks, procedural inefficiencies and user ergonomic burdens,” Valko said.