$17.6M Debt Round for Spine Wave

2/4/11

Shelton, CT-based spinal device developer Spine Wave has raised $17.6 million in debt financing, according to an SEC filing. The company said in a press release that previous investor New Enterprise Associates led the financing, which also included Morgenthaler Ventures, Compass Global Fund, New Leaf Venture Partners, Canaan Partners, Foundation Medical Partners, and Memphis Implant Partners. Spine Wave said it plans to use the proceeds of the financing to fund commercial operations and additional clinical trials of its injected spinal treatment called “NuCore” for patients with degenerative disc disease.

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