NEWS: Med-Device Startup for Spine Surgery Closes $18M Series B Round. Financing for Viseon was Co-Led by a VC firm in Irvine...
CAVEAT: Viseon's website (www.viseon-spine.com/) is non-operational and CEO Valko did not put any email address -- his or any media relations' contact info -- in the press release. This warrants further investigation. OCSN left a message for the company at 949-662-3959.
An Irvine startup that developed a portfolio of devices for minimally-invasive spine surgery announced today that it closed an $18 million Series B round.
The financing for Viseon was co-led by HBM-MedFocus, a fund created by MedFocus, a VC and PE firm in Irvine; Invus Opportunities; and affiliates of Wexford Capital.
Viseon said that the funding will support ongoing product development, worldwide regulatory approvals, clinical evaluations, manufacturing scale-up and commercialization efforts in a press release issued today.
The HBM fund also contributed to Viseon's $5M Series A raise in 2017. The fund has experienced one exit, Rebound Therapeutics, a med-device startup in Irvine, which was acquired by Integra LifeSciences for $16.5 million.
It was Rebound Therapeutics that Viseon was spun out of, according to Crunchbase.
The MedFocus firm was founded by Michael Henson. In 2000, he created the MedFocus Fund in conjunction with the Japan Asia Investment Company, according to Massinvestor.
In 2004, Henson started the MedFocus Fund II and the HBM-Med Focus Fund, with HBM BioVentures, which is reportedly one of the largest life science VC firms in Europe.
MedFocus reportedly has a portfolio of 21 medtech companies.
Henson has a broad medtech industry background, according to Massinvestor. He founded and served as CEO for 16 emerging healthcare firms. Six of those have reportedly been acquired by multinational companies and six have become public while the rest remain closely-held private firms.
Jeffrey Valko is the CEO of Viseon.
The startup's arsenal includes visualization and illumination tech for use in minimally-invasive spine surgery. The single-use, disposable devices are touted as having the ability to replace large, complex, capital equipment being used in operating rooms today.
The tech can be adapted for a variety of procedures including cervical, thoracic and lumbar procedures, as a replacement where surgical microscopes and endoscopes are routinely used.
It's also being adapted to more advanced lateral access procedures, where visualization remains "a challenge." Viseon claims that its disposable products "will reduce the burdens of high capital equipment cost," among other claims.