Medical device firm RSB Spine LLC has raised $1.5 million in a private offering.
The company plans to use the funding to expand its U.S. sales. RSB plans to introduce several new product extensions at a spine conference this month, according to a brief statement from the company.
The company didn’t say from whom it received the funding. CEO John Redmond didn’t return a call.
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RSB’s InterPlate technology is used by surgeons to perform fusions in the lumbar and cervical areas of the spine.
The company said its third-quarter sales jumped 229 percent compared to the same period last year, but didn’t specify amounts.
Redmond attributed RSB’s sales growth in part to the performance of Massachusetts-based Paradigm BioDevices Inc., its exclusive U.S. distributor. RSB inked its distribution deal with Paradigm last fall.
Photo from flickr user wu_135
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