Synergy Spine Solutions – an innovative medical device developer focused on artificial cervical disc replacement – announced that it has closed on a significant equity financing of $30 million. The Series A funding round was led by a new institutional investor, Amzak Health, and joined by other investors.
The proceeds will be used to complete enrollment of Synergy’s U.S. IDE 2-level clinical trial, continue patient follow-up on both the 1-level and 2-level clinical trials, submit anticipated Pre-Market Approval applications to the FDA, and to support continued commercialization in markets outside the United States.
Synergy remains at the forefront of addressing the critical need for innovative solutions in cervical disc replacement and the enrollment for the Synergy Disc 1-level IDE trial was completed in June 2023. And the 2-Level trial will evaluate the safety and effectiveness of the Synergy Disc artificial cervical disc compared to anterior cervical discectomy and fusion (ACDF) for the treatment of degenerative disc disease in subjects that are symptomatic at two contiguous vertebral levels from C3 to C7. This is a multi-center, prospective, non-randomized, and historically controlled study that will be conducted on 200 patients at up to 25 sites.
With this investment, Joyce Erony of Amzak Health has joined Synergy’s Board of Directors.
KEY QUOTES:
“We are excited about this next chapter of Synergy’s growth. We look forward to welcoming Amzak Health to the Synergy team that has worked incredibly hard to get to this point. We remain focused on completing the 2-level study and to bringing the Synergy Disc to the U.S. market, as it represents an important treatment option for patients suffering from degenerative disc disease and was specifically designed to restore both motion and alignment to the cervical spine.”
– Josh Butters, CEO of Synergy Spine Solutions
“We believe in Synergy’s dedication to advancing patient care and reshaping the landscape of cervical disc replacement. We are very excited to be a part of their evolution and future growth.”
– Joyce Erony of Amzak Health
