Lower Back Pain Treatment Company Zyga Technology Raises $10M

Zyga Technology, which has developed a minimally invasive procedure to treat chronic low back pain, has raised $10 million, according to a regulatory filing.

Zyga's CEO Jim Bullock explained in an email that this is part of $25 million Series C round the company announced in May 2012. That round was led by new investor Versant Ventures, while existing investors Split Rock Partners, Domain Associates and MB Venture Partners also participated.

The company markets the SImmetry Sacroiliac Joint Fusion System, which treats sacroiliac joint dysfunction that causes lower back pain and hip pain related to the SI joints. The FDA cleared the product for use in 2011.

Now, the company is developing a new product. Earlier this year, Zyga announced that it had completed enrollment in the Glissade trial that will test its Glyder Facet Resurfacing System in treating chronic facetogenic pain.

 "Forpatientssufferingfromchronicfacetpain,therehasneverbeenaviableprocedureprovidinglongtermrelief,”saidProf.Dr.HansJörgMeisel,DirectoroftheCenterofNeurosciencesoftheBG-ClinicBergmannstrostHalle,Germany, in the announcement.“Theiroptionsweretoreceiveinjectionsseveraltimeseachyearorto undergoamoreaggressive,permanentspinefusionprocedure.TheGlyder Systemofferssimple,minimallyinvasiveimplantationofadevicedesignedtopreservethepatient’sanatomyandtoprovidelong-termpainrelief."

The news release from January noted that the company expects to get CE Mark on the product by the end of 2013. Bullock explained that he expects European approval to come in the "next month or so."

 The company also will be running a feasibility trial in the U.S. soon. 

-- By Arundhati Parmar, Senior Editor, MD+DI
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