SAN DIEGO–Carlsmed, Inc. announced the close of a $10 million Series A financing to commercialize the aprevo family of spine deformity correction devices.
The San Diego-based medical device company is focused on improving outcomes for patients with adult spinal deformity. Carlsmed has pioneered a novel digital + surgical solution to create optimized surgical plans and personalized aprevo implants to enable superior correction of the spinal deformity. This round of financing is led by U.S. Venture Partners (USVP) and includes participation from The Vertical Group, Cove Fund, and Wavemaker Three-Sixty Health, among others.
“This round of financing comes at the perfect time to meet surgeon and patient demand for the newly launched Breakthrough aprevo devices,” said Mike Cordonnier, CEO of Carlsmed. “U.S. Venture Partners is the right fit for our digital + surgical company, being the leading Silicon Valley VC focused on early stage IT and healthcare. Their track record of building and scaling transformative companies is second to none.”
New Company Directors Named
In conjunction with the Series A closing, the Company announces the appointment of three highly accomplished directors to the board, Jonathan Root, M.D., Phil Young, and Kevin Sidow.
Dr. Jonathan Root is a General Partner at USVP and is currently serving on the board of Inari Medical (NARI), Silverback Therapeutics (SBTX) and several private USVP portfolio companies including Cleave Biosciences, eFFECTOR Therapeutics, Edgewise Therapeutics, HealthJoy, Nuvaira, Okami Medical, Omada Health, Ribon Therapeutics and Route 92 Medical.
Phil Young previously represented USVP on the boards of Aerogen, CardioThoracic Systems, CardioVascular Imaging Systems, CoCensys, Compugen, FemRx, Penederm, 3Dfx Interactive, Vical, Xoma, RelayHealth, Synarc and St. Francis Medical Technologies, all of which became public companies or were acquired.
Kevin Sidow brings more than 35 years of operational and corporate governance experience in spine and orthopedics. Kevin is past CEO of St. Francis Medical Technologies and Moximed, as well as past Worldwide President of DePuy Orthopedics, a Johnson & Johnson Company.
Frank Fitzgerald joins as VP of Sales
The company also announces the expansion of its commercial team with the addition of Frank Fitzgerald as Vice President of Sales. Frank is responsible for building the Company’s sales and distribution channels in the US. He brings to Carlsmed more than twenty-five years of success in launching spine surgery devices at startups and market leaders including Medtronic, Innovasis and Misonix.
