Spineology nets extra cash
Posted on July 14th, 2008 – 6:50 PMBy Thomas Lee
Spineology Inc. said Monday that it has raised $7.5 million from a private placement.
The St. Paul-based maker of devices used in spine surgeries will use the money to expand distribution, conduct clinical research, and develop new products.
The financing was led by Minneapolis-based Oakridge Financial. The company did not disclose the new investors.
“We’re at a pivotal stage in our growth process,” CEO John Booth said in a statement. “The company has made significant strides in many areas over the last few years with very limited capital resources. With this new capital, we are well positioned to expand on all fronts of the business.”
