Amber Implants Announces $10 Million in Series A Financing
VCFix® spinal system / Source: Amber Implants The Hague, Netherlands-based spinal technology company Amber Implants has announced the closing of its $10 million in Series A financing. The endeavor was accomplished through collaboration between the company founders, existing venture capital investors, angel investors as well as non-dilutive government funding sources.
Amber Implants was founded in 2018 and specializes in implants for vertebral compression fractures (VCF). Company Founder and Chief Executive Officer Dr. Banafsheh Sajadi stated, “We welcome the support of our high-quality investors to advance our lead product into clinical development. This funding enables us to fully validate the clinical performance of VCFix® spinal system both in Europe and the U.S.—following receipt of the Breakthrough Device Designation. We are excited to take a further step towards improving the quality of life for patients with vertebral fractures with our proprietary VCFix®.”
Over 4 million people a year suffer spinal fractures. VCFix is the first vertebral body augmentation system to treat broad types of vertebral fracture without the need for bone cement. The spinal implant system promotes increased organic bone healing via a 3D-printed structure with perforations designed to stimulate natural bone growth. The system also provides improved pedicle anchorage for increased stability and the possibility of posterior fixation for unstable fractures.
VCFix received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in September 2021 and has undergone preclinical verification, ISO 13485 certification, preliminary clinical study, and a pilot clinical trial.
Peter Krekel, M.D. of Blue Sparrows MedTech Fund sees a bright future for VCFix. “We are excited to reaffirm our commitment to Amber Implants’ journey by participating in this new investment round. The company has shown impressive progress in the run-up to their first in-human clinical trials commencing. VCFix® is without doubt a ground-breaking technological advancement for the spinal market and we very much look forward to seeing the positive impact it can have.”
