Vertiflex manufactures the Superion Indirect Decompression System, a minimally invasive spinal implant designed to treat moderate lumbar spinal stenosis. The implant is intended to reduce pressure on affected nerves and allow patients to return to a more active lifestyle, and is placed through a small tube without deconstructing anatomical elements. Superion received FDA Premarket Approval following a 391-patient randomized controlled trial and is supported by five-year durability data; it is described by an AMA CPT Category I code and has broad reimbursement. The company plans to use recent financing proceeds primarily to fund U.S. commercial expansion of Superion. Vertiflex has expanded its commercial infrastructure, relocating its headquarters to a larger facility in Carlsbad, CA, which includes expanded distribution capability and a physician education center. The privately held company, founded in 2005, says it has compiled the largest, most rigorous body of device clinical evidence related to lumbar spinal stenosis. VertiFlex develops percutaneous, motion-preserving spinal implants, with the Superion Interspinous Spacer (ISS) as its flagship product. Superion is a minimally invasive, fully percutaneous implant that can be delivered on an outpatient basis under local anesthesia and has been implanted in over 1,500 patients worldwide. The device received CE mark in 2007 and is currently the subject of a pivotal IDE trial in the U.S. studying safety and efficacy versus Medtronic’s X-STOP IPD at 30 sites. VertiFlex reports the Superion IDE trial is ahead of plan and has surpassed 275 patient enrollments; the company plans to complete enrollment before the end of 2011. The company was founded in 2005 and is headquartered in San Clemente, California. Raised capital will be used to finish IDE enrollment and to advance global market development of the technology.

Total raised

$54M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2017