Companion SpineDiagnostic and interventional spine surgery company Companion Spine announced today that it raised $55 million in a Series A financing.

Companion Spine, which has headquarters in New York and Bordeaux, France, had its financing led by Viscogliosi Brothers, the company’s co-founder and historical shareholder, and jointly invested by a leading global medtech company.

Viscogliosi Brothers formed Companion Spine to focus on spine pain treatment, motion preservation, precision diagnostics and interventional care, according to a news release. Funds raised in the Series A round will be used primarily for the development and commercialization of the company’s minimally invasive diagnostic and therapeutic solutions for treating degenerative disc disease (DDD) and lumbar spine stenosis (LSS).

Companion Spine’s portfolio, which come sin part from a 2020 acquisition of regulatory and clinical property from Medtronic, includes six patent families covering more than 140 total patents, along with an inventory of instruments and implant sets for the target population of spine patients. The company aims to develop diagnostic tools for early diagnosis of the root causes and biomechanical and biological factors that induce pain, too.

The company expects two of its products to be commercialized in the U.S. in 2023, as the DIAMTM implant for treating DDD already has CE mark and received FDA breakthrough device designation in October 2021. It also anticipates bringing the APERIUSTM intervertebral implant for the percutaneous treatment of LSS to market.

“Companion Spine is positioned to become a major actor of this change due to its unique focus and its comprehensive solutions which are adapted to the needs of patients and back pain specialists throughout their entire journey, aiming at precisely diagnosing and treating back pain earlier, for good, precisely, and efficiently,” Companion Spine CEO and Co-Founder Erick Cloix said in the release. “I am thrilled by the completion of this very important financing in our sector of activity, which testifies not only to the support and confidence of our co-founder and main shareholder, Viscogliosi Brothers, but also to the medical relevance of the technologies for the preservation and protection of functional mobility of the spinal segment, and to the interest of the business model developed by Companion Spine, with the participation of a leading spine medical devices manufacturer from which a large part of the patents for some of our innovations originate.”