SANTA ROSA -- Osseon Therapeutics, Inc. announced today that it has raised a $14 million round of equity financing led by a private investor, which will allow the medical device maker to expands its product line that treats vertebral compression fractures.
The private investor was not identified by Osseon, which said the new series of financing was completed with existing investors that have supported Osseon's efforts of becoming a "preeminent spine company."
"This infusion of capital will allow us to continue to develop our patented orthopedic products and will propel us to the next level of commercial success," Ron Clough, chief executive officer, said in a statement.
Santa Rosa-based Osseon hopes to develop and commercialize state-of-the-art medical devices for minimally invasive treatments for degenerative bone and joint disease, including the treatment of vertebral compression fractures. The company, started a few years ago, hired Mr. Clough as CEO in October.
It’s newest product, Osseoflex SB, received Food and Drug Administration approval in late October. The Osseoflex SB steerable bone tamp, introduced to the European marketplace in second quarter of 2012, has driven the company’s revenue and distribution has expanded to six EU countries, according to Osseon.