SPINEGUARD COMPLETES FINANCING FOR “SMART” SCREW (Orthopedics This Week)
SpineGuard website
SpineGuard, S.A. has finished raising the rest of a $3.1 million equity round of financing to accelerate the market launch of its "smart screw" for spine surgery.
Claiming to have the world's first "smart screw" to make surgery "safer," the company said on June 15, 2015 the equity came from two Paceo equity line draws in April and May. In addition to a private placement with institutional investors announced in June, the company issued new shares to investors.
"Despite the cancellation of the public offering announced by the company on June 4 due to adverse market conditions, the company was able to serve most of the subscription demands received. Pursuant to article L. 225-138 of the French Commercial Code, this equity round was reserved for named investors meeting certain criteria as defined in resolution 13 of the shareholders’ meeting of May 28, 2014," stated the company.
The company was co-founded in 2009 in France and the U.S. by Pierre Jérôme and Stéphane Bette. The co-founders' goal is to establish its proprietary Dynamic Surgical Guidance (DSG) technology as the global standard of s...
