Lumbar Stenosis Treatment Firm VertiFlex Secures $4 million

Correcting lumbar spinal stenosis usually involves an invasive procedure.

But California startup VertiFlex has developed percutaneous methods to treat spinal disorders. The company has recently raised $4 million by issuing convertible securities, according to a regulatory filing. 

VertiFlex is backed by Thomas McNerney & Partners, Aberdare Ventures, Alta Partners and New Enterprise Associates. In 2011, these venture capital firms pumped $14 million into the company.

VertiFlex is currently commercializing the Totalis Direct Decompression System in the U.S., which was cleared by the FDA in November. These are a set of surgical instruments designed to perform minimally invasive direct decompressions of the lumbar spine.

The company has also developed the Superion Interspinous Spacer System, an expandable implant that can reduce the pressure on nerves for patients who are experiencing moderate lumbar stenosis. The system is being tested through an investigational device exemption.

Earlier this year, VertiFlex sold some non-core spinal assets to Stryker for an undisclosed sum.

[Photo Credit: iStocphoto.com user AlexSava]

-- By Arundhati Parmar, Senior Editor, MD+DI
[email protected]