Simplify Medical reports $21M financing round; funds to support Simplify Disc clinical trials: 6 notes

Written by Megan Wood | July 19, 2017 | Print  |

Simplify Medical closed a Series B financing round.

Here are six notes:

 

1. The round, led by Life Sciences Partners, closed at $21 million.

 

2. Sectoral Asset Management and M.H. Carnegie also invested.

 

3. Simplify Medical will put the funds toward two ongoing U.S. pivotal clinical trials testing the Simplify Disc. Surgeons can view the disc on MRIs without artifact, so patients do not have to undergo CT scans with additional radiation.

 

4. One trial is evaluating the Simplify Disc in treating two adjacent spinal levels, from C3 to C7, for patients suffering from cervical degenerative disc disease. The trial will include up to 200 patients and 15 centers.

 

5. The second trial is testing the Simplify Disc in treating one level of the spine, from C3 to C7, with cervical fusion surgery versus a control group.

 

6. The technology has the CE Mark, and surgeon have implanted the Simplify Disc in more than 700 patients outside of the U.S. Simplify Medical reports early clinical data supports pain score and functional improvement following implantation.

 

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Spineway reports $6.9M in revenue for first half of 2017: 4 insights

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