Simplify Medical closes $21 million Series B financing for trials on cervical artificial disc

Simplify Medical Pty Ltd. announced it has closed $21 million Series B financing, which will be used to support clinical trials of a cervical artificial disc, according to a company press release.

Life Science Partners led the round, along with investment from Sectoral Asset Management and M.H. Carnegie, a returning investor. Simplify Medical will use the new funds to complete two, ongoing pivotal clinical trials of the Simplify Disc in the United States. The trials are enrolling patients and will study the use of the disc for one level of the spine and for two adjacent levels for treatment of cervical degenerative disc disease.

“We are gratified by the confidence investors are showing in our Simplify Disc, which is designed to be clearly viewed on MRI without the artifact that can result from metal used in typical spine implants,” David Hovda, Simplify Medical chief executive officer, said in the release. “By avoiding the radiation that would otherwise accompany a CT scan, we intend to minimize patient exposure to unnecessary radiation risk. The new funds will enable us to develop the rigorous evidence that gets us one step closer to availability in U.S. patients in need.”

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