Jan. 2016 | SpineGuard Secures €7.7m Debt Financing with Bpifrance and IPF Partners
PARIS and SAN FRANCISCO, Jan. 11, 2016
SpineGuard (FR0011464452 – ALSGD), an innovative company that designs, develops and markets disposable medical devices designed to make spine surgery safe and easier, announced today that it has secured a total €7.7M debt financing through an Innovation Loan of €1.5M with Bpifrance and the issuance of four tranches of bonds totaling €6.2M with IPF Partners. The first tranche of € 3Mwas drawn on December 28, 2015.
Manuel Lanfossi, CFO of SpineGuard, said: “This funding from Bpifrance and IPF Partners endorses SpineGuard’s strategy and will underpin its sales momentum for the next 3 years. In addition, our new financial partners further validate the great clinical potential of our Dynamic Surgical Guidance platform. The funding strengthens our financial position in a flexible way and allows us to accelerate the new- product launches from our very exciting pipeline. In particular, we are excited about the upcoming launch of PediGuard Threaded and the ‘smart screws’ that we have been developing with our industry partners.”