Here are five key notes:
1. The financing is in combination of $15 million in debt supplemented with $5 million in equity.
2. Oxford Finance and Bridge Bank co-led the debt refinance. All the existing major investors supported the equity financing.
3. The company expects the SI-joint clinical acceptance and utilization to grow over the next 12 to 18 months.
4. The company will use the financing to expand clinical studies designed to demonstrate radiographic fusion and pain reduction with the SImmetry Sacroiliac Joint Fusion System. “The funds secured in this round of financing will be important as Zyga reinforces its commercial operation and drives collection of clinical data demonstrating the SImmetry system’s ability to provide a successful SI joint arthrodesis both clinically and radiographically,” said Zyga Technology CEO Jim Bullock.
5. The company’s two minimally invasive devices include SImmetry Sacroiliac Joint Fusion System and Glyder Facet Restoration Device.
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