Osseon Therapeutics grabs $14M to fuel spine repair-device development
Osseon Therapeutics pulled in $14 million in new equity financing to help fuel development and expansion of its devices designed to treat vertebral compression fractures.
The company said the new money comes from a private investor, along with previous Osseon investors. Osseon targets vertebral compression fractures with its devices and surgical tools in patients with osteoporosis, osteotraumatic injuries, myelomas and a number of degenerative bone diseases, according to its website.
Osseon said it wants to become a "pre-eminent spine company" and that the new funding will accelerate commercial development of key products to get it there.
Based in Santa Rosa, CA, Osseon will have to contend with other upstarts trying to reach the same goal. California company Benvenue Medical, for example, pulled in $25 million in Series D financing in June 2012 to help it commercialize three spinal-repair devices, one of which is targeted to address vertebral compression fractures.
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