Companion Spine Closes $60.1 Million Series A Funding Round
Companion Spine, the French-American specialist in interventional spine pain-management surgery, today announced the successful closing of its $60.1 million Series A funding round with a final closing of a $5.0 million top-off bringing the total in Series A to $60.1 million.
Formed by Viscogliosi Brothers, LLC in 2020, Companion Spine was created to address the two largest indications of the overall spine market: Lumbar Spinal Stenosis (LSS) and Degenerative Disc Disease (DDD), without the requirement of spine fusion surgery. 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.
The completion of the Companion Spine Series A funding round will enable Companion Spine to successfully introduce both DIAMTM, Companion Spine’s main product, and LISA®, the device obtained through the acquisition of the French company Backbone earlier in 2023, into new Global territories, accelerate worldwide sales growth, and advance the US FDA PMA submission process for the APERIUSTM and DIAMTM. The top-off round was led by Viscogliosi Brothers, LLC (“VB”), Viscogliosi Brothers Watermark Holdings, LLC (“VBW”) and Epimed International. VBW is a proprietary holding company of VB, dedicated to creating shareholder value through capitalizing on regulatory driven high-barriers of entry, company building expertise, and a focus on increasing predictable cash flows in the $500B low-correlated MedTech innovation universe. VBW was founded by VB, Watermark Investments, and Monaut Partners.
Epimed is a development, design, manufacturing and distribution company focusing on standard and unique solutions for physicians with an emphasis on outcomes and safety. The company is owned by the Racz Family. Gabor B. Racz, M.D., DABPM, FIPP, DABIPP, is an internationally recognized specialist in the sub-specialty of spine pain management and known as the “The Father of Spine Pain Management.” One of his three sons, Tibor Racz, MD, is an anesthesiologist and pain management physician who learned from his father and has close to 4,000 pain procedures and achieved double board certification throughout his 30-year career. Tibor Racz, MD, is one of several “Master Companions” of Companion Spine’s Master Companion Medical Board (“MCMB”). Currently, Epimed continues its commitment to helping patients navigating through their pain, improving functionality and livelihood through cutting-edge medical care and service.
Erick Cloix, CEO and co-founder of Companion Spine, said: “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. 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.“
Anthony G. Viscogliosi, co-founder and Executive Chairman of Companion Spine and Principal at Viscogliosi Brothers, LLC, commented: “The VB investment philosophy is to skate where the puck will be, not where it is right now. This defines that VB invests in and leads new directions in healthcare.”
- Charles River and INADcure Announce Gene Therapy Manufacturing Collaboration Read more
- Experimental Cancer Drug May Slow Inflammation Linked to Heart Disease Read more
- Genmab Showcases Data From Comprehensive Epcoritamab Development Program in Patients Across B-Cell Lymphomas Read more
- Quell Therapeutics Signs Agreement with AstraZeneca to Develop and Commercialize Engineered Treg Cell Therapies for Autoimmune Diseases Read more
- Astellas and Kate Therapeutics Announce Exclusive License Agreement for KT430 Read more