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.
- Conformal Coatings for Tomorrow’s Medical Technologies - Webcast
- ISO80369 Standards Bring Changes to Medical Device Companies - Webcast
- Automation in Machining - Webcast
- How to Develop a Risk Based Biological Safety Evaluation Per New US FDA Guidance - Webcast
- 3 Tips for Successfully Launching an Outsourced Medical Device - Webcast
- When Do I Really Need to Perform an Ethylene Oxide Requalification? - Webcast