Jul 8 2010
DFine, Inc., developer of minimally invasive solutions for treating vertebral pathologies, announced today the closing of a $36.2 million round of equity financing. The round was led by new investor Split Rock Partners. Funding was also contributed by new investor OrbiMed, and inside investors Prospect Venture Partners, Vanguard Ventures, BBT Fund/Apothecary Capital, Highland Capital Management and several private investors. In connection with this financing, Josh Baltzell of Split Rock and Jonathan Silverstein of OrbiMed will join the board of directors.
“We are excited to join DFine as an investor. We believe the Company's StabiliT® System is a novel therapy that provides clinical benefit to the growing population of patients with vertebral compression fractures while potentially reducing physician exposure to radiation”
"We are excited to join DFine as an investor. We believe the Company's StabiliT® System is a novel therapy that provides clinical benefit to the growing population of patients with vertebral compression fractures while potentially reducing physician exposure to radiation," said Josh Baltzell, Managing Director, Split Rock Partners.
"We are very pleased to add Split Rock and OrbiMed as our new partners. Given the current economic uncertainty in the markets, their confidence in our company represents a significant validation of our people, our technology and the value proposition of our products," said Kevin Mosher, Chief Executive Officer of DFine, Inc. "This funding will enable us to put additional resources in the field to support the growing demand for our StabiliT® Vertebral Augmentation System, and to accelerate the commercialization of several promising products in our pipeline."