Zyga Raises $10 Million for Spine Pain Solutions Business

Zyga Technology has raised $10 million, to be applied to general business purposes, which include the development of devices to manage spinal pain solution, according to a recent regulatory filing. The money comes from sales of equity and C-2 preferred stock

In January, Zyga completed enrollment in its German GLISSADE study of the Glyder facet resurfacing system for the treatment of chronic back pain, for which it presented initial results in October. The Minnetonka, Minn.-based devicemaker says it hopes to secure a CE Mark approval in the EU as well as an investigational device exemption in the U.S. based on these results.

Zyga also makes the SImmetry Sacroiliac joint fusion system, which uses implants and bone grafting to repair the joint connecting the spine to the pelvis. — Lena Freund

Subscribe to Devices & Diagnostics Letter for complete coverage of the medical devices industry. Click here for more information.