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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
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SOURCE SI-BONE, Inc.
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