20 Apr Carlsmed Raises $30M in Series B Funding to Scale Personalized Spine Surgery
CARLSBAD, Calif.–(BUSINESS WIRE)–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.”
Carlsmed’s mission is to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. The company’s aprevo® devices are personalized to improve the standard of care for the surgical treatment of adults with spinal malalignment. Carlsmed uses patient data and proprietary digital technologies to create aprevo® spine fusion devices to align with the surgeon’s goals for each patient. For more information, visit carlsmed.com or contact us at firstname.lastname@example.org.
About B Capital Group
B Capital Group is a multi-stage international investment firm founded in 2015. Investing in companies transforming large traditional industries across borders and geographies, B Capital leverages a global team of seasoned experts, as well as its strategic partnership with BCG. The firm helps founders navigate business challenges, raise capital, and attract talented leadership at every stage of the startup lifecycle. B Capital focuses on enterprise software, financial services and healthcare investing. The B Capital portfolio includes global, industry-leading companies like Atomwise, Carro, Dailyhunt, Datarobot, Evidation Health, Icertis, Innovaccer, Ninja Van, Tuhu, and Yalo. For more information, visit bcapgroup.com.
SOURCE: Business Wire, April 19 2022