IRVINE, Calif.–(BUSINESS WIRE)–Viseon, Inc. today announced the closing of their $18.0 million Series-B financing. The financing was co-led by Invus Opportunities (New York, NY), affiliates of Wexford Capital LP (Greenwich, CT and West Palm Beach, FL) and HBM-MedFocus (Irvine, CA). The funding will support ongoing product development, worldwide regulatory approvals, clinical evaluations, manufacturing scale-up and commercialization efforts.
Jeffrey Valko, President and CEO, commented, “We are very pleased to have the ongoing support from our current investment partners, with confidence underscored by inside-only investor participation and oversubscription. Ongoing advancements in minimally invasive surgical techniques often bring the consequence, and risk of limited visualization. As fundamental as it may seem, enhanced real-time intraoperative visualization projected onto a large high-definition flat panel display will contribute toward clinical outcomes improvement, procedural efficiency, reduced risk of complications, OR staff involvement teaching opportunity and procedure expansion.”
Peter Davis, Chief Operating Officer, added, “We have initiated limited commercial use of Viseon technology and early surgeon response has been very positive. Viseon continues to strategically expand commercialization working closely with MIS surgeons, collecting additional clinical feedback and utility in the U.S. and we are assessing international commercialization opportunities.”
The Company will continue to build out their proprietary technology comprised of state-of-the-art visualization and illumination technologies for use in Minimally Invasive Spine Surgery (MISS) procedures. The single-use, disposable MISS access devices will disrupt the way many MISS procedures are performed, including the displacement of the large, complex, capital equipment currently being used in operating rooms today. The Viseon technologies can be adapted for a variety of MISS procedures including a wide range of cervical, thoracic and lumbar procedures, as a replacement where Surgical Microscopes and Endoscopes are routinely used today. The Viseon technology is also being adapted to more advanced lateral access MISS procedures, where visualization remains a challenge. The disposable products developed by Viseon will reduce the burdens of high capital equipment cost, OR footprint, maintenance and calibration expense, OR scheduling, reusable sterilization risks, procedural inefficiencies and user ergonomic burdens.
About Viseon, Inc.
Viseon has developed a unique portfolio of devices to improve the procedural and clinical outcomes of many minimally invasive spine surgery procedures. In addition to rapid product development of its products, Viseon is assembling a world class Clinical Advisory Board of leading MISS physicians, amassed a significant intellectual property portfolio, and completed a large series of clinical use. Viseon is a privately held medical device company founded in early 2017 as a spin-out from Rebound Therapeutics Corporation, and is located in Irvine, California.