Vertebral Technologies closed the first tranche of a $2.5 million Series B financing with the EB-5 immigrant investor program.
Here are four things to know:
1. The Minneapolis-based company will use the proceeds as growth capital for its expandable, modular interbody device suite commercialization.
2. VTI will focus on expanding manufacturing and inventory capacities concurrent with the sales team as part of the first tranche of Series B financing.
3. VTI's intraoperative assembly technology is designed to implant large, biomechanically stable implants through a smaller access channel than with currently available lumbar fusion products.
4. Surgeons implant the device one module at the time and the assembled implant has a large surface area and anatomical lock.
"We believe VTI's modular technology has the potential to significantly disrupt the current spine market," said CEO Matt Kyle.