CARLSBAD, Calif.– Carlsmed announced today that it closed an oversubscribed $30M Series B funding round, led by B Capital Group, a global, multi-stage investment firm. Existing investors, U.S. Venture Partners, The Vertical Group, Cove Fund and Wavemaker Three-Sixty Health, also participated in the round. The company plans to use the Series B funds to ramp commercialization of aprevo®, Carlsmed’s FDA cleared personalized surgical devices.
“Traditionally, patients undergoing spinal surgery are at risk for postoperative complications and revision surgery. Our goal is for aprevo® to be the last spinal surgery a patient will ever need,” said Mike Cordonnier, CEO of Carlsmed. “Unlike conventional implants that are mass produced in stock shapes and sizes, each aprevo® device is designed for a specific patient, with spinal alignment correction built into the device.”
Carlsmed also announced today that Robert Mittendorff, MD, MBA, has joined its Board of Directors. Dr. Mittendorff is General Partner and Head of Healthcare at B Capital Group. “We are pleased to support the Carlsmed team in the transformation of spine surgery, enabled with artificial intelligence, to produce patient and surgeon specific implants,” said Dr. Mittendorff. “The potential for the Carlsmed platform to improve both surgical workflow and patient outcomes is substantial, and the team leading this innovation is second to none.”
Widya Mulyasasmita, PhD, Senior Principal of Healthcare at B Capital Group, will also join the Board as an observer. According to Dr. Mulyasasmita, “Carlsmed represents the future of surgery, where machine learning and artificial intelligence technologies enable improved outcomes for patients. The aprevo® devices are unique in that they deliver personalized medicine that is simple for surgeons to adopt and scalable as a business.”
