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.
- Considerations for Third-Party Reprocessing Of Single-Use Medical Devices - Webcast
- Drowning in Big Data: Extracting Medical Device Quality and Safety Insights - Webcast
- Quality with Confidence – What You Need to Know About Digital Microscopes for Medical Device Quality Processes - Webcast
- Risk Management for Medical Device Manufacturers - Webcast
- 3 Steps for Designing the Ideal Medical Device Packaging System - Webcast
- Reducing Device Cost with Innovative Medical Materials - Webcast