SpineGuard has secured $6.2 million to extend its PediGuard platform for enhanced spinal screw placement. Investors included Credit Agricole Private Equity, Innoven Partenaires, A Plus Finance and Delta Partners.
"This new financing round recognizes the significant commercial foundation that the leadership of SpineGuard has forged, with the mission of making spine surgery safer," explains Alan Olsen, chairman of SpineGuard, in a statement.
Conventionally placed pedicle screws show high rates of misplacements that can lead to serious complications, including spinal cord damage. PediGuard aims to remedy this situation. It is the only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Real-time feedback is provided by audio and visual signals. Published studies show PediGuard doubles the pedicle breach detection rate, limits radiation exposure by 30%, decreases by up to 10% the average time for pedicle screw placement, according to a company statement.
SpineGuard's PediGuard products have been adopted by nearly 200 spine surgeons for more than 17,000 procedures worldwide. The company, which has offices in Paris and San Francisco, was founded in 2009 by Pierre Jerome and Stephane Bette.
Back in 2009, SpineGuard raised $4 million from Delta Partners, closing its $15 million first round of funding. It previously announced an $11 million round from Crédit Agricole Private Equity, Innoven Partenaires and A Plus Finance, as the San Francisco Business Times notes.
- see the SpineGuard statement
- check out the story in the San Francisco Business Times