Ceterix Orthopaedics, a medical device manufacturer based in Menlo Park, California, announced that it had successfully raised $19.5 million in its latest funding round. According to a filing with the Securities Exchange Commission (SEC), all the funding came from five different investors.
The company is currently developing a specialized suturing device to assist surgeons with challenging anatomies. With its suturing device, surgeons can stitch complex anatomies while avoiding adjacent cartilage, tissue and nerves. This has the potential to reduce surgery length and recovery time. In addition, the company’s suturing technology has the potential to reduce surgical complications from poor stitching. This includes complications like infections, the need for secondary surgery and more.
In a Series A round of financing in 2010, the company raised $8.1 million. Its Series A round was backed by 5AM Ventures and Versant Ventures.
The company hopes to raise an additional $1.1 million to support additional initiatives at the company.
- Five Key Considerations for Evaluating and Selecting the Most Effective Electronic Quality Management Systems for Medical Device Manufacturers - Webcast
- Prototyping and Low-Volume Production for Medical Applications - Webcast
- Water Quality for Pharmaceutical and Medical Device Processes - Webcast
- Enhancing Medical Device Performance and Reliability with Parylene Conformal Coatings - Webcast
- Best Practices for Medical Device Complaints Handling - Webcast
- Designing Diagnostic Tools for the Developing World - Webcast