Here are five key notes:
1. The financing combines $23 million in equity and $37 million in debt.
2. The proceeds will accelerate U.S. commercialization activities for the Luna 3D Interbody Fusion System and Kiva VCF Treatment System for vertebral compression fractures.
3. DeNovo Ventures, Domain Associates, Esquilime Partners, InterWest Partners, Technology Partners and Versant Ventures provided the equity financing. CRG is the sole debt provider and participated in the equity financing.
4. Co-founder and managing director of Versant Ventures Donald Milder will join Benvenue Medical’s board of directors.
5. The FDA cleared the Kiva VCF in 2014 and a randomized, controlled study showed the procedure restored kyphotic angles and reduced the rate of adjacent level fractures when compared with balloon kyphoplasty. The procedure also showed economic benefit.
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