Santa Rosa med-tech developer Osseon Therapeutics said Thursday it has raised $14 million in a round of equity financing led by an undisclosed private investor.
The proceeds will allow Osseon to expand its line of products to treat compression fractures in the spine, said Ron Clough, the company's chief executive officer.
The new series of financing was completed in conjunction with existing investors, the company said.
"This infusion of capital will allow us to continue to develop our patented orthopedic products and will propel us to the next level of commercial success," Clough said in a statement.
Founded in 2006 as a spinoff from the University of Northern California, the company has developed a type of bone cement and delivery devices to treat degenerative bone and joint disease.
Osseon, which has 20 employees, expects to hire six workers in sales and operating room support positions over the next four months, Clough said. It does not disclose financials, but Clough said the company is on track to triple its revenues this year.
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