ST. PAUL, Minn.--(BUSINESS WIRE)--Spineology Inc., the innovator in anatomy-conserving surgery™, is pleased to announce that Hermed Capital, a private equity fund located in Shanghai, China, has made a $5 million investment in the form of a convertible debenture. The proceeds from this financing are expected to fund additional commercialization, product development, and clinical research efforts for the company.
"We believe the Spineology investment is a very exciting opportunity," stated Dr. Jerry Xiao, Managing Director of Hermed Capital. "Spineology possesses a very novel product portfolio in an otherwise very homogeneous market. We look forward to working with them as they grow in the U.S. and hope to be able to leverage our resources as they begin to explore global opportunities."
“The Hermed investment comes at a very opportune time for Spineology,” said John Booth, CEO for Spineology. “With the recent approvals of Rampart One and Duo we are poised to dramatically expand our procedure base into additional market segments.”
The Duo System significantly reduces the surgical access required for lateral procedures while providing a large conforming device footprint.
The Rampart One System minimizes the exposure requirements associated with anterior spinal fusion procedures and is manufactured from Invibio® PEEK-OPTIMA® HA Enhanced material.
About Spineology Inc.
Spineology Inc. provides innovative, anatomy-conserving spinal technologies for surgeons and their patients. Spineology surgical techniques conserve spinal bone, ligament and muscle tissue. Spineology is committed to increasing procedural efficiency, reducing surgical morbidity and accelerating patient recovery. Learn more at spineology.com.
About Hermed Capital Co. Ltd.
Hermed Capital Co., Ltd is a venture capital investment firm specializing in growth capital investments in the healthcare industry including biotech, pharma. medical device and diagnostics projects globally, which is based in Shanghai China. With its abundant China resources, Hermed capital adds in values to those portfolio companies by leveraging its expertise and networks.