Santa Clara, CA-based Benvenue Medical has completed a $35.5 million Series C round of financing. The round was co-led by new investors Domain Associates and Technology Partners. It also included support from current investors Versant Ventures and DeNovo Ventures. In addition, Nimesh Shah, principal at Domain Associates, and Roger Quy, general partner of Technology Partners, will join the Benvenue medical board of directors.
Benvenue Medical was founded roughly seven years ago. Its first products are designed for the treatment of vertebral compression fractures and degenerative disc disease, which have combined $1.6 billion revenues globally, according to a company statement. Its CEO is Robert Weigle, who has held positions at Johnson & Johnson, Baxter, Aesculap and Neurocare.
The company says the funds will be used to complete enrollment and patient follow-up in its KAST trial and begin multiple spine product commercialization initiatives in the U.S. and Europe. KAST is being conducted in support of 510(k) market clearance from the FDA and is evaluating the Kiva VCF Treatment System versus balloon kyphoplasty in vertebral compression fractures.
"With the landmark KAST Clinical Trial enrolling well, along with the go-to-market efforts already underway for Blazer and additional products, Benvenue Medical is well positioned to be a significant player in the global spine market. We're very enthusiastic about being involved," commented Shah.
- see the Benvenue Medical release