SI-BONE, Inc. Closes $33 Million Growth Capital Financing (press release)
SI-BONE, Inc. (San Jose, California), a medical device company that has pioneered the use of the iFuse Implant System®, a minimally invasive surgical (MIS) device used to fuse the sacroiliac (SI) joint, announced today the completion of a $33 million growth capital round of financing.
Orbimed and Novo A/S invested in the round along with current investors Skyline Ventures and Montreux Equity Partners. Proceeds from the investment will be used to fund expansion of the U.S. sales organization and add additional resources in R&D, medical affairs, regulatory, compliance and reimbursement. In addition, the company will further expand operations outside the U.S. by pursuing regulatory approvals in over a dozen countries in Asia, the Middle East and South America and initiating commercialization in Australia, New Zealand and Hong Kong. The investment will also be used to continue funding the company's three ongoing prospective clinical studies including SIFI (Sacroiliac Joint Fusion with iFuse Implant System), a U.S. multicenter single arm study, INSITE (Investigation of Sacroiliac Fusion Treatment), a U.S. m...
