Viseon closes $18m Series B funding round

Chloe Kent 26 February 2020 (Last Updated February 26th, 2020 12:10)

Spinal surgery company Viseon has announced the closing of an $18m Series B funding round, co-led by Invus Opportunities, HBM-MedFocus and affiliates of Wexford Capital.

Viseon closes $18m Series B funding round
Viseon is focused on building visualisation and illumination technologies for use in minimally invasive spine surgery. Credit: Shutterstock

Spinal surgery company Viseon has announced the closing of an $18m Series B funding round, co-led by Invus Opportunities, HBM-MedFocus and affiliates of Wexford Capital.

The funding will be used to support Viseon’s ongoing product development, worldwide regulatory approvals, clinical evaluations, manufacturing scale-ups and commercialisation efforts.

Viseon is focused on building visualisation and illumination technologies for use in minimally invasive spine surgery (MISS) through its Voyant System. The company’s single-use, disposable MISS access devices are intended to offer an alternative to the large, complex surgical microscopes and endoscopes currently being used in operating theatres.

The technology works by projecting the operative field on to a high-definition flat panel display within the operating room, which can also be streamed to remote locations. It can be adapted for a variety of MISS procedures, including cervical, thoracic and lumbar procedures. Viseon is also working on adapting it to more advanced lateral access MISS procedures, where visualisation remains a challenge.

Viseon chief operating officer Peter Davis said: “We have initiated limited commercial use of Viseon technology and early surgeon response has been very positive. Viseon continues to strategically expand commercialisation working closely with MISS surgeons, collecting additional clinical feedback and utility in the U.S. and we are assessing international commercialisation opportunities.”

The company said its products will help reduce capital and maintenance costs and improve efficiencies in procedure and scheduling.

In addition to developing its product portfolio, Viseon is working towards assembling a clinical advisory board of leading MISS physicians.

Viseon president and CEO Jeffrey Valko said: “We are very pleased to have the ongoing support from our current investment partners, with confidence underscored by inside-only investor participation and oversubscription.

“Ongoing advancements in minimally invasive surgical techniques often bring the consequence and risk of limited visualisation. As fundamental as it may seem, enhanced real-time intraoperative visualisation projected on to a large high-definition flat panel display will contribute toward clinical outcomes improvement, procedural efficiency, reduced risk of complications, or staff involvement teaching opportunity and procedure expansion.”