Navigation Links
SI-BONE, Inc. Closes $11.0 Million Financing Led by Skyline Ventures
Date:8/17/2010

SAN JOSE, Calif., Aug. 17 /PRNewswire/ -- SI-BONE, Inc. (San Jose, California), a medical device company that is pioneering the use of a minimally invasive surgical (MIS) device to treat the sacroiliac (SI) joint, today announced that it has closed $11.0 million in financing for expansion of clinical and commercial operations. The financing round was led by new investor Skyline Ventures of Palo Alto, California.

The primary purposes of the financing are to dramatically increase investment in 1) worldwide sales and marketing operations 2) expansion of the company's clinical efforts through a retrospective minimally invasive surgical (MIS) SI joint treatment study, a prospective, multicenter study (MISSION), a European prospective study, additional post-market case studies and an animal study validating arthrodesis with the iFuse implant to further establish clinical efficacy and 3) educate spine surgeons and referring specialists in the US and Europe.

Glenn Reicin, a partner at Skyline Ventures, will join the SI-BONE Board of Directors. Reicin joined Skyline as a Partner in October 2008. From 1993 to 2008, he was a Managing Director at Morgan Stanley, covering medical devices. He was ranked in the Institutional Investor "All-America" team from 1994 through 2008, including six years as first place. In 2008, the Financial Times ranked him the top stock picker in the Medtech sector. His experience includes a leading role in bringing several companies public and provided research coverage in the areas of medical technology and devices.

"One of the reasons we invested in SI-BONE is our belief that the number of patients who suffer from SI joint dysfunction is large and dramatically underserved. Further, we believe that the minimally invasive technology and procedure invented by Dr. Mark Reiley has huge potential based on early patient results that the surgeons currently using the procedure are seeing. We are very confident in the management team led by Jeff Dunn, President and CEO. We look forward to helping them accomplish their mission of helping many patients worldwide," said Glenn Reicin.

Jeff Dunn, CEO of SI-BONE, commented, "We are pleased that our colleagues at Skyline have agreed to bring their extensive clinical and business experience to our commercial efforts. We expect to benefit from their insights and expertise through Glenn's board participation. The financing will further help position iFuse as the frontline MIS therapy for patients with SI joint syndromes who are unresponsive to conservative therapy."

Surgeons across the United States are implanting iFuse and preparing to report their initial clinical data at several significant spine meetings this fall. Upcoming clinical presentations on the iFuse early experience will be made at the North American Spine Surgery (NASS) in Orlando on October 7 on the main floor and at SI-BONE's Satellite Symposium, the American Association of Pain Management & Rehabilitation (AAPM&R) on November 5, the Society of Minimally Invasive Spine Surgery (SMISS) on November 6 and World Congress of Low Back & Pelvic Pain in Los Angeles on November 12. Surgeons participating in iFuse clinical evaluation include Steven Garfin, Fred Geisler, David Polly, Leonard Rudolf, J. John Halki, Arnold Graham-Smith and A. Nick Shamie.

In response to increasing awareness of SI Joint dysfunction as a debilitating symptom generator, SI-BONE, Inc. developed an innovative, patented, intramedullary implant to treat the SI Joint. The company is also embarking on a post-market multicenter study to determine its effect over time on SI Joint pathology and on symptoms associated with SI Joint dysfunction.

The iFuse Implant System is a commercially available device in the US intended for fracture fixation of large bones and large bone fragments of the pelvis for conditions including sacroiliac joint disruptions and degenerative sacroiliitis. The iFuse procedure uses a minimal incision for delivery and implantation of small, titanium implants. The implants are coated with a porous plasma spray that acts as an interference surface, designed to help decrease implant motion. These implants have substantial thickness and sophisticated metallurgy and are able to produce a much stronger construct than that of conventional pins or screws used to surgically fix boney structures. This implant technology from SI-BONE has been previously used successfully in well over 1,000 cases of dysfunctional foot joints.

About SI-BONE, Inc.

SI-BONE, Inc. (San Jose, California) is a leading spinal medical device company dedicated to the development of tools and products for diagnosing and treating patients with low back issues related to sacroiliac (SI) joint pathology. The company has developed, and is manufacturing and marketing, less invasive approaches using implants for the treatment of SI Joint pathology. SI-BONE has an experienced management team with extensive experience in orthopedic and spine medical devices.


'/>"/>
SOURCE SI-BONE, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. BioVascular Inc. Closes $10.87 Million Series C Financing
2. MabVax Therapeutics Closes Two Licensing Agreements With Sloan-Kettering Institute for Cancer Research
3. DNA Therapeutics Closes 2.2 Million EUR Series A Financing Round
4. Cognition Therapeutics Closes Series A Financing to Advance Drug Candidates for Alzheimers Disease
5. Curemark Closes Series A Financing
6. Blue Belt Technologies, Inc. Closes Series A Financing
7. Caraco Pharmaceutical Laboratories, Ltd. Closes Asset Purchase Agreement with Forest Laboratories, Inc. to Settle Lexapro(R) (escitalopram oxalate) ANDA Patent Litigation
8. American Scientific Resources Inc. Discloses Audited Financials for 2007 and 2008
9. Keraderm Closes on $2.5 Million Investment from NewVa Capital Partners, LP
10. Aethlon Medical Discloses Live Webcast of Todays BIOCOM Presentation
11. Boehringer Ingelheim Animal Health Closes Deal to Acquire a Significant Portion of the Fort Dodge Animal Health Business From Pfizer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/27/2017)... July 27, 2017  West Pharmaceutical Services, Inc. (NYSE: ... for the second-quarter 2017 and updated financial guidance for ... Second-Quarter 2017 Highlights Reported net sales ... the prior-year quarter. Net sales at constant currency (organic) ... EPS was $0.51, compared to $0.60 in the prior-year ...
(Date:7/26/2017)... Medical Aesthetics, a leading medical aesthetic clinic in Singapore ... several skin conditions from the inside. The natural process ... The skin becomes more transparent due to the thinning of the ... from the sun contributes to aging skin, causing age spots and ... ...
(Date:7/26/2017)... , July 26, 2017 The Galien ... Prix Galien USA Award Nominees. Counted ... Prix Galien Award recognizes outstanding biomedical and technology product achievement ... To qualify, each candidate must be U.S. Food ... five years and demonstrate tremendous potential to impact human health. ...
Breaking Medicine Technology:
(Date:8/18/2017)... New York (PRWEB) , ... August 18, 2017 ... ... leading manufacturers and marketers of high-quality anti-aging skincare solutions, recently announced ... Serum. These new products are an affordable, yet effective alternative to expensive plastic ...
(Date:8/18/2017)... ... 18, 2017 , ... “Prompted By Love”: a love story thrown into doubt ... Nettles. Author Mary P. Nettles has devoted her life to ministry since the ... lifelong desire to write was, however, not fulfilled until 2014 when "The Color of ...
(Date:8/18/2017)... ... August 18, 2017 , ... “Case ... Veterans Affairs Medical Center. “Case #10-5411 Veterans Administration” is the creation of ... abuse. In June 1990, Carol Mulhem started work at the Coatesville VAMC ...
(Date:8/17/2017)... ... August 17, 2017 , ... ... organizations and considered extremely effective, very effective, or effective by 85% of respondents, ... , NEJM Catalyst Insights Reports are based on surveys of the NEJM Catalyst ...
(Date:8/17/2017)... ... , ... When Amy Cowperthwait left the emergency room after 28 ... dream to make nursing education more relevant and prepare aspiring nurses to address both ... healthcare provider education. , “The human element was missing. Students were learning ...
Breaking Medicine News(10 mins):