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Spinal device developer Spinal Modulation raised $27.4mm in its Series C financing led by first-time backer Johnson & Johnson Development Corp., which was joined by other new investors DFJ InCube Ventures and Raffles Venture Partners and returning shareholders De Novo Ventures, DFJ ePlanet Ventures, Kleiner Perkins Caufield & Byers, and MedVenture Associates.
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