Baxano Surgical Secures $22M Financing to Grow Minimally Invasive Technology

Raleigh, N.C.-based Baxano Surgical secured $22 million in financing to provide the company with the flexibility and resources to grow its minimally invasive spine device segment. The company obtained a credit facility of $15 million from Hercules. It will mature in 38 to 41 months. Baxano also entered into a $7 million common stock purchase agreement with Lincoln Park.

Baxano Surgical's spine technology focuses on treating degenerative conditions of the lumbar spine.

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