Simplify Medical ended a second tranche of its Series B financing.
Here are five points:
1. The company received an additional $23.25 million in this round, bringing the total financing to $44.25 million.
2. LSP Health Economics Fund 2 led the second tranche, with LSP Fund V, MH Carnegie & Co. and Sectoral Asset Management following.
3. Simplify Medical will put this financing toward two U.S. pivotal clinical trials of its Simplify Disc. The studies are analyzing the disc's efficacy for treating degenerative disc disease. One study will compare the Simplify Disc in two contiguous discs from C3 to C7 against two-level cervical fusion. A second study is investigating the disc's effectiveness at one level between C3 and C7.
4. The Simplify Disc is made of PEEK-on-ceramic, allowing its visibility on MRIs and greater durability.
5. Simplify Medical has received the CE Mark for its disc.