A startup that treats conditions of the spine using minimally invasive devices announced Wednesday that it has raised $25 million in its third round of financing.
Zyga Technology said that new investor Versant Ventures took part in the series C round and was joined by existing investors Split Rock Partners, Domain Associates and MB Ventures. The investment also brings a new member to the Minnesota company’s board — Kirk Nielsen, managing director at Versant.
Using Informed Awareness to Transform Care Coordination and Improve the Clinical and Patient Experience
This eBook, in collaboration with Care Logistics, details how hospitals and health systems can facilitate more effective decision-making by operationalizing elevated awareness.
In a news release, Zyga’s president and CEO, Jim Bullock, said that the money will be used to commercialize the SImmetry spinal fusion system. Zyga announced that it had received U.S. Food and Drug Administration approval for the system in January 2011.
“These funds will allow us to focus on building world-class sales, marketing and clinical efforts to commercialize this important new technology,” Bullock said in the release.
Zyga is also developing the Glyder Facet Resurfacing System to treat facetogenic pain caused by degeneration in the joints in the back of the spine. The device is being tested overseas. Bullock added that the money will be used to expand the clinical trials that are necessary to win regulatory approval both in Europe and the U.S.
The company has raised $12 million in previous rounds of financing, said Paul Hess, Zyga’s senior marketing manager, and the firm has 25 employees.
BioLabs Pegasus Park Cultivates Life Science Ecosystem
Gabby Everett, the site director for BioLabs Pegasus Park, offered a tour of the space and shared some examples of why early-stage life science companies should choose North Texas.
[Photo Credit: freedigitalphotos user Salvatore Vuono]
