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MEDICAL TECHNOLOGY
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Aliso Viejo’s Vertos Medical closes $15.5 million funding

The company finalizes the Series D phase of its financing led by new investor.

By Susan BelknappPublished: October 19, 2009 10:30 AM

Aliso Viejo-based medical device company, Vertos Medical Inc., developer of the “Mild” procedure for lumbar spinal stenosis (LSS), today announced it has completed a $15.5 million Series D financing. A new investor, Menlo Park-based ONSET Ventures, led the round with additional backing from existing Vertos investors CHL Medical Partners, Foundation Medical Partners, Aweida Venture Partners and DFJ Mercury.

The funding will be used to continue U.S. commercialization of the company’s Mild technology, the least invasive surgical procedure for treating LSS, with no implants left behind.

“Vertos’ Mild procedure is a breakthrough treatment option for a large, underserved market of LSS sufferers: those who are no longer responding to medical management, but who are not yet candidates for traditional invasive surgeries,” says ONSET Ventures partner and new Vertos board member, John Ryan. “Behind this procedure are proprietary technology and a top notch management team with a strategic approach for driving market adoption.

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