SpineForm has raised more than half of a hoped for $1 million to further development of a scoliosis-treating medical device.
The company has raised $539,000 in equity from 14 investors, according to a regulatory filing with the U.S. Securities and Exchange Commission (SEC).
The latest SEC document is an amendment to a filing from last year in which the company said it had raised $464,000 in equity from 12 investors.
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CEO Joe Reynolds declined comment.
SpineForm was founded in 2004 to commercialize technology developed at Cincinnati Children’s Hospital Medical Center. The company is developing a “spine staple” to correct without surgery a curvature of the spine known as scoliosis. The company hopes the device slows the effects of scoliosis in children and decreases the curvature as children get older.
In addition to Cincinnati Children’s, SpineForm has received investment funding from state-supported investment group CincyTech and angel group Queen City Angels.
The company has also received a $1 million grant through Ohio’s Third Frontier program.
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Brandon Glenn is the Ohio bureau chief for MedCity News.
