Empirical Spine, Inc., maker of the LimiFlex Paraspinous Tension Band, today announced the closing of a Series B financing of $10 million. SHD (Scientific Health Development) led the round, with additional investment from GP&G (Green Park & Golf) and other syndicate members. The funds will be used to advance the product on its path to market, including completing the ongoing pivotal trial and submitting all components of the PMA filing to the FDA.
“We are gratified by the confidence investors are showing in the LimiFlex device,” said Empirical Spine CEO Richard Treadwell. “As study data accumulates, we have more and more evidence that LimiFlex is on track to meet or exceed the clinical results we hoped for. The new funds will enable us to develop and submit a very strong PMA filing in the coming months.”
Dr. Reginald Davis of BioSpine Institute commented, “Results from the LimiFlex trial suggest the LimiFlex device may offer a motion-preserving, minimally invasive treatment option suitable for use in outpatient settings, such as the ambulatory surgery center (ASC). In my practice, I have seen increased interest in these benefits from both patients and physicians.”