Spine devicemaker Spineart raised $22.5 million in convertible financing shortly after finishing enrollment for its cervical disc replacement trial.
The funding will help several initiatives including patient follow-up with trials, opening a research and development center in Dallas and completing a facility in Geneva, Switzerland, according to a news release.
The company completed enrollment for the U.S. investigational device exemption trial with the Baguera C cervical disc implant, according to a Feb. 29 announcement. The trial will compare Baguera C in single-level cervical disc replacement to ZimVie's Mobi-C.