Spine surgery tech company Carlsmed raises $30 million
Company uses patient data and machine learning to create custom spinal implant
The spinal implants and surgical devices market is expected to be worth over $14 billion by 2028, with surgeons performing more than 1.6 million spinal fusions every year. And yet, current treatments are not personalized for each patient; instead, they use implants with preset sizes and configurations until they find one that works for that patient, which takes a lot of trial and error.
Carlsmed wants to change that: the company manufactures personalized surgical implants for patients with disabling spinal deformities.
On Tuesday, the company announced an oversubscribed $30 million Series B funding round, led by B Capital Group, with participation from existing investors, US Venture Partners, The Vertical Group, Cove Fund and Wavemaker Three-Sixty Health. . This is the company’s first financing since breeding a $10 million Series A in December 2020.
Founded in 2018, Carlsmed’s 3D printed spine devices are manufactured on demand for each patient and supplied directly to hospitals through qualified distributors. It uses patient anatomy and machine learning algorithms to create optimized surgical plans and 3D printed implants.
After a hospital sets up the Carlsmed system, a patient receives imaging, such as an X-ray, CT scan, or MRI, and the images are transferred to Carlsmed’s aprevo system, which is FDA cleared. He then creates a surgical plan which is reviewed by the surgeon and the patient, and upon approval by the surgeon, the 3D printed implants are created and packaged sterile for surgery.
“Traditionally, patients undergoing spine surgery are at risk for postoperative complications and revision surgery. Our goal is for aprevo to be the last spine surgery a patient will need,” Mike Cordonnier, CEO of Carlsmed, said in a statement.
“Unlike conventional implants that are mass-produced in stock shapes and sizes, each aprevo device is designed for a specific patient, with spinal alignment correction built into the device.”
The company said it plans to use the new Series B funding to accelerate the commercialization of aprevo.
Along with the financing, the company also announced that Robert Mittendorff, general partner and head of healthcare at B Capital Group, has joined its board of directors, while Widya Mulyasasmita, senior director of healthcare at B Capital Group, joined the board as an observer. .
“We are thrilled to support the Carlsmed team in transforming spine surgery, enabled by artificial intelligence, to produce patient- and surgeon-specific implants,” Dr. Mittendorff said in a statement. communicated. “The potential of the Carlsmed platform to improve both surgical workflow and patient outcomes is enormous, and the team driving this innovation is second to none.”
(Image source: carlsmed.com)