Discure Technologies raises $16 million for degenerative disc disease treatment
Discure Technologies raises $16 million for degenerative disc disease treatment
DDD accounts for 35% of all lower back pain and an economic loss of $100 billion in the U.S. alone.
Discure Technologies has announced the successful completion of $16 million in financing to advance its treatment for degenerative disc disease (DDD). The funding includes $11 million raised in an oversubscribed Series A round, following a $5 million SAFE (Simple Agreement for Future Equity) raise. The Series A round was led by BOLD Capital Partners, Supernova Invest, and Sanara Capital, with participation from U.S. hospital networks, orthopedic surgeons, and medtech investors.
“We welcome our new partners and investors to our existing investor group. The SAFE allowed us to complete development of the Discure System, as well as successfully complete our comprehensive pre-clinical program, adding studies in large animals and human cadaveric discs, thereby setting the stage for this successful Series A round,” said CEO Yuval Mandelbaum. “This latest investment will accelerate our growth, allowing us to make key hires and fully fund our First-in-Human clinical study in Canada and Italy. The investment validates the company's novel, minimally invasive approach to reverse disc degeneration, shifting the paradigm from symptom management to addressing the problem by regenerating the disc.”
DDD accounts for 35% of all lower back pain and an economic loss of $100 billion in the U.S. alone. Current treatments are focused on symptom relief rather than addressing the root cause of the disease. Whereas current treatments for DDD include opioids, injections and invasive surgery, Discure's approach aims to shift the paradigm by offering a disease-modifying solution. The funds will be used to advance the clinical development of the Discure System, an implantable bioelectronic device designed to treat and reverse DDD by restoring fluids and nutrients to the affected discs.
