SAN FRANCISCO & PARIS–(BUSINESS WIRE)–SpineGuard, a medical device start-up, announced today that it has raised $4 million from Delta Partners and has added two new directors: Maurice Bourlion, a co-inventor of PediGuard®; and Joe Mason, M.D., a Partner with Delta Partners.
The $4 million investment by Delta Partners completes a first round of VC funding in SpineGuard totaling $15 million. On April 9, 2009, SpineGuard announced an $11 million round of financing from Crédit Agricole Private Equity (lead), Innoven Partenaires (co-lead), and A Plus Finance. Co-founded this year by Pierre Jérôme and Stéphane Bette, former executives at Medtronic Sofamor-Danek and SpineVision, SpineGuard’s primary objective is to establish its FDA-cleared and CE Marked PediGuard device as the standard of care for safer pedicle screw placement in spine surgery.
“This additional funding and the support of Delta Partners and Maurice Bourlion will fortify our efforts to establish PediGuard as a standard of care for safer spine surgery,” said Pierre Jérôme, CEO of SpineGuard. “Our novel device is emerging as a compelling solution to the widespread clinical need for safer pedicle screw placement.”
“SpineGuard has an established and stable management team with deep experience in the fast-growing spinal surgery markets in the U.S. and worldwide. PediGuard is a very exciting product and has the potential to become a standard tool in making spinal surgery safer for both patients and surgeons. We look forward to supporting the company and team as they build out PediGuard over the coming months and years,” added Joe Mason, M.D., Partner, Delta Partners.
“I am delighted to be involved actively in the governance of SpineGuard,” said Maurice Bourlion, who has a proven record in the medtech industry, “because I am convinced that SpineGuard, which has a clear focus and a dedicated team, will establish PediGuard as a standard of care. Indeed, I am proud to be part of a venture where patient safety and surgeon assistance are the primary goals. And I know that the PediGuard technology platform has other promising applications.”
“We are pleased that the leading investment firm Delta Partners recognizes the value of SpineGuard and the potential of PediGuard. This additional investment will support the company in its commercial development,” said Alexia Perouse, Investment Director, Crédit Agricole Private Equity. “In addition, Maurice Bourlion and Joe Mason, by joining the company as directors, will bring a very interesting strategic experience to the board.”