Carlsmed recently announced that it has closed an oversubscribed US$30M Series B funding round, which will be used to ramp up commercialisation of aprevo, the company’s US Food and Drug Administration (FDA) cleared personalised surgical devices.
The Series B funding round was led by B Capital Group, with existing investors, U.S. Venture Partners, The Vertical Group, Cove Fund and Wavemaker Three-Sixty Health, also participating.
“Traditionally, patients undergoing spinal surgery are at risk for postoperative complications and revision surgery. Our goal is for aprevo to be the last spinal surgery a patient will ever need,” said Mike Cordonnier, CEO of Carlsmed. “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.”
Carlsmed also announced that Robert Mittendorff has joined its board of directors. Mittendorff is general partner and head of healthcare at B Capital Group.
“We are pleased to support the Carlsmed team in the transformation of spine surgery, enabled with artificial intelligence, to produce patient and surgeon specific implants,” said Mittendorff. “The potential for the Carlsmed platform to improve both surgical workflow and patient outcomes is substantial, and the team leading this innovation is second to none.”
Widya Mulyasasmita, senior principal of healthcare at B Capital Group, will also join the board as an observer. “Carlsmed represents the future of surgery, where machine learning and artificial intelligence technologies enable improved outcomes for patients. The aprevo devices are unique in that they deliver personalised medicine that is simple for surgeons to adopt and scalable as a business,” she said.