Spine company raises $35M for SI joint stabilization system

Spinal Tech

PainTEQ, a spine fusion devicemaker, plans to use $35 million in non-dilutive growth capital to expand the commercialization of its implantable SI joint stabilization system.

The LinQ system allows for a minimally invasive treatment option for SI joint pain and dysfunction. Implanting the system directly into the joint enhances stabilization and creates a sufficient environment for long-term fusion, according to a July 10 news release. 

With more than 8,000 procedures that have been performed using the system, the company reports clinical data showing immediate benefits for patients with lower back pain, according to the release.

PainTEQ is backing the financing, managed by MVolution Partners, with its intellectual property portfolio.

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