Navigation Links
Benvenue Medical Closes $35.5 Million Series C Financing
Date:4/18/2011

SANTA CLARA, Calif., April 18, 2011 /PRNewswire/ -- Benvenue Medical, Inc., a developer of minimally invasive solutions for spine repair, announced the completion of a $35.5 million Series C round of financing.  The proceeds will be used to complete KAST (Kiva® System as a Vertebral Augmentation Treatment – A Safety and Effectiveness Trial) and execute on the company's commercialization strategy.  Benvenue Medical is entering a $9 billion global spinal device market with three breakthrough minimally invasive products to treat vertebral compression fractures (VCFs) and degenerative disc disease (DDD).

(Logo:  http://photos.prnewswire.com/prnh/20110418/SF84532LOGO)

The round was co-led by new investors Domain Associates and Technology Partners, with continued support from current investors Versant Ventures and DeNovo Ventures.  Nimesh Shah, principal at Domain Associates, and Roger Quy, general partner of Technology Partners, will join the Benvenue Medical Board of Directors.  

The funds will be used to complete enrollment and patient follow-up in Benvenue Medical's KAST trial, the largest randomized study versus balloon kyphoplasty to date, and begin multiple spine product commercialization initiatives in the U.S. and Europe. KAST is being conducted in support of 510(k) market clearance from the U.S. Food and Drug Administration (FDA) and is evaluating the Kiva VCF Treatment System versus balloon kyphoplasty in vertebral compression fractures. The Kiva VCF Treatment System has now been used to treat over 450 vertebral compression fractures globally.  The National Osteoporosis Foundation estimates that there are 700,000 osteoporosis-related vertebral compression fractures annually in the U.S.

"We welcome Domain Associates and Technology Partners as new investors and specifically Nimesh and Roger to our board.  We're also gratified by the continued support of Versant Ventures and DeNovo Ventures, who have been with us since the beginning.  Our investors share the vision of Benvenue Medical becoming a leading company with product platforms in multiple markets in spine repair," said Robert Weigle, CEO of Benvenue Medical.  "This significant financing is an important milestone for our continued momentum."

"With the landmark KAST Clinical Trial enrolling well, along with the go-to-market efforts already underway for Blazer and additional products, Benvenue Medical is well positioned to be a significant player in the global spine market.  We're very enthusiastic about being involved," said Nimesh Shah.

"We're impressed with Benvenue Medical's growth potential in both the VCF and fusion markets and we look forward to working with the company as it evolves into a commercially-focused organization," said Roger Quy.

"We at Versant Ventures are enthused by Benvenue's momentum on multiple fronts and are thrilled to have the caliber of investors of Domain Associates and Technology Partners join the team," said Beckie Robertson, managing director at Versant Ventures.

About Benvenue Medical, Inc.

Founded in 2004, Benvenue Medical, Inc. is advancing spine repair through the development of proprietary, minimally invasive surgical and interventional solutions. The company is privately held and funded by Versant Ventures, DeNovo Ventures, Domain Associates and Technology Partners.  Its first products are designed for the treatment of vertebral compression fractures and degenerative disc disease, which have combined $1.6 billion revenues globally. For more information, visit www.benvenuemedical.com.

MEDIA CONTACT:
Betsy Merryman
Merryman Communications
betsy@merrymancommunications.com
310-560-8176

ML1977.A


'/>"/>
SOURCE Benvenue Medical, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. OnPoint Medical Diagnostics, Inc. and Vertical Health Solutions, Inc. Complete Reverse Merger
2. FDA Approves New Medical Device for Form of Brain Cancer
3. Millstone Medical Outsourcing Expands Sales, Marketing Capacity, Hires Two Professionals
4. New Brachytherapy Applicator for Endometrial Cancer Patients Introduced at ABS 2011 by Varian Medical Systems
5. CVS Caremark to Offer Medical Benefit Drug Management Services to Clients
6. Palomar Medical Technologies to Host First Quarter 2011 Financial Results Conference Call and Webcast on April 28, 2011
7. Varian Medical Systems to Exhibit the Latest Digital Image Detectors, X-Ray Tubes and Cancer Treatment Technologies at the CMEF Show in Shenzhen, China
8. Winner Medical to Attend 65th CMEF Spring11 Exhibition in Shenzhen
9. Solta Medical Announces First Quarter 2011 Results Release and Conference Call
10. Medical Device Industry Veteran Angela Horacek Joins AlloSource as VP of Operations
11. BD and Waste Management Launch Initiative to Recycle Medical Sharps
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/27/2017)... , Sept. 27, 2017  Commended for their devotion to ... awards. Ranked as number one in the South Florida Business ... in Inc. 5000 yearly list, the national specialty pharmacy has ... Armando Bardisa will soon be honored by SFBJ as ... Set to receive his award in October, ...
(Date:9/25/2017)... Sept. 25, 2017  EpiVax, Inc., a leader ... and immune-engineering today announced the launch of EpiVax ... of personalized therapeutic cancer vaccines. EpiVax has provided ... access to enabling technologies to the new precision ... lead EpiVax Oncology as Chief Executive Officer. Gad ...
(Date:9/22/2017)... DIEGO , Sept. 22, 2017 AVACEN ... medical device is now successfully helping those with the ... Fibromyalgia diagnosed Amanda in Essex, ... dressed and washing my hair, experiencing no sleep at ... in painful spasm… I cannot recommend [the AVACEN 100] ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... “America On The Brink”: the ... “America On The Brink” is the creation of published author, William Nowers. Captain ... As a WWII veteran, he spent thirty years in the Navy. Following his ...
(Date:10/12/2017)... Wis. (PRWEB) , ... October 12, 2017 , ... ... standard products to meet the demand of today’s consumer and regulatory authorities worldwide. ... of probiotic experts and tested to meet the highest standard. , These ...
(Date:10/12/2017)... ... October 12, 2017 , ... Information about ... intend to develop to enable prevention of a major side effect of chemotherapy ... especially in pediatric patients. For cisplatin, hearing loss is FDA listed on-label as ...
(Date:10/12/2017)... ... , ... On Saturday, October 21, the Health & Wellness Center at Florida ... money for the American Heart Association Heart Walk. Teams of up to 10 people ... keep their treadmills moving for 5 hours. Treadmills will start at 7:00 p.m. on ...
(Date:10/12/2017)... ... 12, 2017 , ... Vohra Chief Medical Officer Dr. Shark ... skilled nursing facility medical directors and other clinicians at various events in October. ... "At many of these conferences we get to educate other physicians, facility nurses, ...
Breaking Medicine News(10 mins):