Spineart, a trailblazer in the field of spinal surgery, has been at the forefront of medical device innovation since its inception in Geneva. Renowned for its focus on designing, developing, and promoting safe, efficient, and straightforward solutions, Spineart caters to the needs of spine surgeons, operating room teams, and patients alike.
The latest financing round saw an impressive participation, with over CHF 15 million contributed by existing shareholders and employees. The remaining funds were raised from new investors, indicating robust confidence and support for Spineart’s vision and cutting-edge technologies. The amount raised surpassed the initial target of CHF 20 million, showcasing the strong belief in the company’s future and its innovative solutions.
Jerome Trividic, CEO of Spineart, expressed his excitement about the funding, stating: “the successful closure of our CHF 20 million convertible financing round is a testament to the potential of our BAGUERA® C cervical disc prosthesis and our unwavering commitment to improving spinal surgery through enabling technologies and robotic navigation.” This financing is set to propel Spineart forward, enabling the company to undertake several strategic initiatives aimed at further innovating in the field of spinal care.
Addressing the challenges of degenerative cervical disc disorders
The funds from this financing round are earmarked for a variety of key projects. These include further investments in novel enabling technologies and the continued follow-up of patients who are part of the BAGUERA® C IDE studies. Additionally, the funds will support the completion of a new 43,000 sqaure foot manufacturing facility near Geneva by the end of 2024 and the inauguration of Spineart’s new R&D and Training Center for Enabling Technologies in Dallas, Texas.
The BAGUERA® C IDE studies are critical to evaluating the safety and efficacy of Spineart’s BAGUERA® C cervical disc prosthesis, designed to address the challenges of degenerative cervical disc disorders. The completion of enrollment in these studies is a pivotal milestone in introducing this groundbreaking technology to the United States market, promising to bring about significant improvements in patient care and surgical outcomes.
