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SI-BONE, Inc. Closes $16.0 Million Financing Led by Montreux Equity Partners
Date:9/26/2011

SAN JOSE, Calif., Sept. 26, 2011 /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 $16.0 million in financing for expansion of clinical and commercial operations. A new investor, Montreux Equity Partners, of Menlo Park, California, led the round and Skyline Ventures also significantly supported this round of financing.

The financing objectives 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), additional post-market case studies and an animal study validating fusion with the iFuse implant to further establish clinical efficacy, and 3) continue to educate spine surgeons and referring specialists on SI joint diagnosis as part of the diagnosis of lower back pain in the US and Europe.  

John Savarese, M.D., Managing Director at Montreux, will join the SI-BONE Board of Directors. Dr. Savarese is actively involved in Montreux's investment decisions in several medical device companies. Dr. Savarese currently is a board director or observer for several Montreux portfolio companies, including MAKO Surgical and Pivot Medical (Chairman). Prior to joining Montreux, Dr. Savarese was Director of Business Development and Marketing at NeurogesX, a Montreux portfolio company focused on treatment of neuropathic pain. Earlier, he worked the Investment Banking divisions at Credit Suisse and Merrill Lynch.  Dr. Savarese was trained in General and Orthopedic Surgery at the Hospital for Special Surgery/Cornell University Medical College in New York City. Dr. Savarese received an M.D. from Duke University and M.B.A. from Stanford University.

Dr. Savarese noted, "We invested in
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SOURCE SI-BONE, Inc.
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