PainTEQ Raises $35M in Non-Dilutive, IP-Backed Financing

PainTEQ, a company focused on minimally invasive posterior sacroiliac (SI) joint fusion, has closed $35 million in non-dilutive, growth capital backed by its intellectual property (IP) portfolio from a lending vehicle managed by MVolution Partners (MVP).
 
The proceeds from the IP-backed debt financing will help expand commercialization of LinQ, PainTEQ’s implantable SI joint stabilization system. It will also be used to support R&D efforts to boost care for SI joint pain and dysfunction patients.
 
The LinQ implant is placed into the SI joint with a large graft window to promote stabilization and create an ideal area for long-term fusion, without any drilling. To date, over 8,000 LinQ procedures have been performed in the U.S.
 
“We are excited to work with MVP. Our ability to secure attractive debt financing from an experienced healthcare investor is a testament to the strength and potential of PainTEQ’s business”, Sean LaNeve, CEO of PainTEQ told the press. “This strategic funding allows us to accelerate our growth trajectory and significantly strengthens PainTEQ’s ability to improve the quality of life for an even greater number of patients living with SI joint pain.”
 
Mike Weinmann, founding partner at MVolution Partners, added, “We are impressed by LinQ’s proven ability to generate positive patient outcomes through a simple, efficient, and safe therapy using the best instrumentation set for SI joint procedures. Our IP-backed financing will enable PainTEQ to fulfill its mission of helping millions of patients suffering from SI joint pain and dysfunction. We look forward to working with Sean and the rest of PainTEQ’s senior management team.”