Titan Spine said this week that it completed an undisclosed Series B financing round, with money slated to support company growth through product line additions, an expanded sales team and continued research & development.
The round was led by current investor Southlake Equity Group, the Mequon, Wisc.-based company said. The round was also joined by legacy investors, and reportedly “exceeded capital-raising goals,” according to a press release.
“Titan Spine’s core business is to help patients that are suffering from back pain enjoy healthier, productive and pain-free lives as quickly as possible following surgery. Our NanoLOCK proprietary surface technology was designed to do just that by fueling the patient’s own healing mechanisms at the nano-level. The Series B round of financing will enable Titan Spine to help more patients with more products more quickly. We appreciate the continued support of Southlake Equity Group and are truly excited with the level of management investment in the Series B round,” prez & CEO Dr. Peter Ullrich said in a prepared statement.
“The management team of Titan is incredibly passionate about making patients’ lives better. It comes through loud and clear in every interaction with the great people of Titan at every level of the company. We are pleased to lead the Series B round of financing and are very excited about working with the company as it continues to expand its ability to reach more patients. Titan Spine has grown at double digit rates for 12 years and has enormous potential in changing the landscape of surface technology-enhanced orthopedic products,” Southlake Equity Group managing partner Tom Keene said in a press release.
In April, Titan Spine released results from a research review of spinal implant surface technology, including its NanoLock surface tech, touting its ability to improve osteogenic response.