Zyga Technology, Inc., a Minnetonka, Minn.-basedĀ developer of minimally invasive solutions for underserved areas in spine, completed a $10m round of financing.
The financing is a combination of $8m in debt supplemented with $2m in equity. Silicon Valley Bank was the sole debt provider and the equity financing will be supported by all existing major investors.
The company intends to use the fund for the expansion of its U.S. sales and marketing organization and support of three clinical studies including:
– EVSI (EVoluSIon Study using the Zyga SImmetry Sacroiliac Joint Fusion System), a U.S. multicenter single-arm study;
– SAIF (SAcroIliac Fusion Study), a single-center single-arm study; and
– DUET (A Multi-Site Study of the Zyga GlyDer Facet Restoration Device in Subjects with LUmbar FacET Pain Syndrome), a U.S. multicenter single-arm study.
Led by Jim Bullock, President and CEO, Zyga TechnologyĀ has developed two minimally invasive products designed to treat under-served conditions of the lumbar spine: SImmetry Sacroiliac Joint Fusion System which uses proven orthopedic principles, including joint decortication, bone grafting and fixation with a threaded implant, to provide a “true SI joint arthrodesis”; Glyder Facet Restoration Device, which is designed to provide a minimally invasive, non-fusion treatment option for patients suffering from facet joint pain who do not receive long-term relief from conservative treatment.
FinSMEs
25/09/2014