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Applied Spine Raises $28 Million For Clinical Trials

Friday, April 13, 2007 6:30:00 AM PDT | VentureDeal Staff

NEW HAVEN, CN -- Medical device maker Applied Spine Technologies Inc. announced the close of its third round of financing, receiving $28 million.

Applied has developed the "Stabilimax", a spinal device implant less inveasive than spinal fusion while allowing for greater flexibility for people with degenerated or injured spines.

Lead investor in the round was Investor Growth Capital which included investment by MB Venture Partners as well.  The company has raised a total of $48 million in venture funding.

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