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SpineGuard secures 7.7 million euros in debt financing

Issue: February 2016

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SpineGuard announced it has secured 7.7 million euros in debt financing through an innovation loan of 1.5 million euros from Bpifrance and four tranches of bonds totaling 6.2 million euros from IPF Partners.

On Dec. 28, 2015, SpineGuard drew the first tranche of 3 million euros.

“This funding from Bpifrance and IPR Partners endorses SpineGuard’s strategy and will underpin its sales momentum for the next 3 years,” Manuel Lanfossi, chief finance officer of SpineGuard, said in a press release. “In addition, our new financial partners further validate the great clinical potential for our dynamic surgical guidance platform. The funding strengthens our financial position in a flexible way and allows us to accelerate the new product launches from out very exciting pipeline. In particular, we are excited about the upcoming launch of PediGuard Threaded and the ‘smart screw’ that we have been developing with our industry partners.”

Reference:

www.spineguard.com