Discure Technologies, the developer of the Discure System, a bioelectronic implantable device for the treatment of degenerative disc disease (DDD), announced that it has secured $11 million in an oversubscribed Series A funding round following a $5 million SAFE (Simple Agreement for Future Equity) raise, bringing the total equity financing raised to $16 million.
This Series A funding round was led by BOLD Capital Partners, Supernova Invest and Sanara Capital, with participation from multiple US hospital networks, leading orthopedic surgeons, veteran medtech industry investors, and existing investors.
KEY QUOTES:
“We welcome our new partners and investors to our existing investor group. The SAFE allowed us to complete development of the Discure System, as well as successfully complete our comprehensive pre-clinical program, adding studies in large animals and human cadaveric discs, thereby setting the stage for this successful Series A round. This latest investment will accelerate our growth, allowing us to make key hires and fully fund our First-in-Human clinical study in Canada and Italy. The investment validates the Company’s novel, minimally invasive approach to reverse disc degeneration, shifting the paradigm from symptom management to addressing the problem by regenerating the disc.”
–Yuval Mandelbaum, CEO, Discure Technologies
“We are excited to invest in Discure’s Series A financing. We focus on companies using cutting edge technology to solve problems that impact people’s lives. DDD and its accompanying back pain are a natural result of aging. It is bad for the person suffering from it and it is bad for the economy in terms of lost workdays. Discure is the first company we have seen with an approach that has the potential to not only alleviate the pain but also reverse the underlying disc damage causing the pain. Just as important, we were impressed by the expertise, focus and dedication of the Discure team and are honored to back them in this journey.”
-Neal Bhadkamkar of BOLD Capital Partners
“Discure is the only medical device company that has demonstrated a clear focus on addressing the underlying cause of DDD. We firmly believe that the technology’s capacity to treat patients at an earlier stage, thereby avoiding the necessity for aggressive surgical procedures, will make a tangible impact. We are delighted to be joining the existing shareholders in supporting this excellent company and team.”
-Pascal-André Chenal, Investment Director at Supernova Invest
