Vertos Medical Gets $23M for Spinal Treatments

Aliso Viejo-based Vertos Medical said today that it has raised $23M in a Series E financing round, to fund the company's expansion in the U.S. and launch in European markets. The firm, which develops a outpatient procedure for helping lumar spinal stenosis (LSS) patients, said the funding was leds by Pitango Venture Capital, and also included ONSET Ventures, CHL Medical Partners, Foundation Medical Partners, Mercury Fund and Aweida Venture Partners. Pitango's Ittai Harel has joined the company's board with the funding. Lumbar spinal stenosis is a age-related, degenerative disease which causes pain and reduced mobility in patients, and usually is treated via physical therapy or open back surgery. Vertos Medical said its treatment provides durable relief with low risk of complications and does not require general anesthesia, stitches or extensive recovery time. More information »