With the help of new investor Skyline Ventures, San Jose, CA-based SI-BONE has raised $11 million in financing. The company is developing a minimally invasive surgical device, called the iFuse Implant System, to treat back pain. The company was founded in 2008
SI-BONE plans to use the funding to bolster its worldwide sales and marketing operations, expand clinical studies of its products, and educate spine surgeons and referring specialists about the surgery, which the company says is less invasive than currently-available treatments.
"One of the reasons we invested in SI-BONE is our belief that the number of patients who suffer from SI joint dysfunction is large and dramatically underserved," noted Glenn Reicin, partner at Skyline, in a statement. "Further, we believe that the minimally invasive technology and procedure...has huge potential based on early patient results that the surgeons currently using the procedure are seeing." As part of the deal, Reicin will join the SI-BONE board of directors.
- check out SI-BONE's release