NEW HAVEN, Conn.--(BUSINESS WIRE)--Applied Spine Technologies (‘AST’) Inc. (www.appliedspine.com) announced today that it has closed on a $28 million ‘Series C’ round of financing led by Investor Growth Capital. MB Venture Partners also participated in the round. Stephen M. Campe, Managing Director of Investor Growth Capital, has joined AST’s Board in connection with the financing. A portion of the proceeds will be used to finance a U.S. IDE clinical trial. This pivotal study is now under way comparing posterior dynamic stabilization using AST’s Stabilimax NZ™ Dynamic Spine Stabilization System to patients receiving traditional fusion stabilization to treat degenerative lumbar spinal stenosis.
