EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Disc Dynamics, Inc. today announced that it has raised $27 million in new financing. Disc Dynamics is an orthopedic spine company that has developed the DASCOR Disc Arthoplasty System, a catheter-based, minimally invasive nucleus replacement technology designed to treat lower back pain associated with degenerative disc disease. The financing will be used to support the completion of the company’s U.S. clinical trial of the DASCOR System as well as additional product development efforts.
The funding was led by a financial investor, with additional participation from current investors Split Rock Partners, Pequot Capital, Brightstone Capital and Affinity Capital Management.
“This significant funding milestone comes at a very exciting time for Disc Dynamics,” said Steven J. Healy, president and CEO. “With our U.S. clinical trial of the DASCOR System well underway, we look forward to using the additional financing to achieve our goal of bringing new, minimally invasive surgical treatment options to U.S. patients suffering from degenerative disc disease.”
“With approximately 770,000 spinal surgeries having occurred in the U.S. in 2006 alone, there is clearly a tremendous market for Disc Dynamics’ technology,” said Dave Stassen, Managing Director, Split Rock Partners. “We believe the company’s DASCOR System will be the product of choice for patients requiring surgical treatment of degenerative disc disease.”
About Disc Dynamics
Based in Eden Prairie, Minn., Disc Dynamics, Inc. is an orthopedic spine company founded in 2000 to provide patients and physicians with a minimally invasive surgical alternative for treating degenerative disc disease. The company has developed the DASCOR Disc Arthroplasty System, a catheter-based, minimally invasive nucleus replacement technology for the treatment of degenerated lumbar discs. The goal of the DASCOR technology is to relieve pain, restore function and preserve anatomy. For more information, visit the company’s web site at www.discdyn.com.
About Split Rock Partners
Split Rock Partners, with offices in Minneapolis and Menlo Park, seeks emerging opportunities in software, Internet services and healthcare primarily in the Upper Midwest and West Coast. Split Rock Partners was formed in June 2004 by the software and healthcare investment teams of St. Paul Venture Capital and continues to manage St. Paul Venture Capital’s existing software and healthcare portfolio.
Contact: Disc Dynamics, Inc. Keith Eastman, CFO, 952-345-2963
Source: Disc Dynamics, Inc.
