Carlsbad, Calif.-based Vertiflex completed a $40 million financing round.
Here are five points:
1. Vertiflex develops minimally invasive interventions for spinal stenosis.
2. Endeavour Vision and H.I.G. BioHealth Partners, both new investors, led the financing round.
3. Existing investors, New Enterprise Associates, Thomas, McNerney & Partners and Alta Partners also led the round.
4. Vertiflex will use most of the funds for the U.S. commercial expansion of the Superion Indirect Decompression System, which is a MIS implant for treating lumbar spinal stenosis.
5. The Superion device, labeled an American Medical Association Current Procedural Terminology Category I code, is designed to decrease pressure on impacted nerves.