Vertis raises $37 million in venture financing:
This article was originally published in Clinica
Vertis Neuroscience, which develops devices for treating diseases and disorders of the nervous system, has closed a $37 million round of venture financing. The Seattle-based company has developed the Vertis PNT, a minimally invasive, nonsurgical treatment for low back pain through the delivery of electrical stimulation to the deep tissues near the spine. The product received FDA clearance in December 2001. Proceeds from the financing will be used to support sales and marketing of the product. The new investors include Johnson & Johnson Development, J&J's venture capital company.