Catalyst OrthoScience raised US $12.7MM in an oversubscribed Series C-1 financing. The infusion will support Catalyst's plans for rapid growth, including increased inventory, expanded distribution and new product development. The company will adjust its infrastructure and hire additional talent as it seeks to broaden the market for its total shoulder arthroplasty system, Catalyst CSR™.
Catalyst CSR's surgical technique creates a multiplanar chamfer cut on the humeral head to minimize bone removal and preserve the strongest, densest bone for component fixation. Angled glenoid instruments enhance glenoid exposure and lessen soft tissue retraction.
Cleared by FDA in 2016, Catalyst CSR system has been used in more than 1,000 surgeries to date in both inpatient and outpatient settings.
The financing round was led by River Cities Capital Funds.
Source: Catalyst OrthoScience Inc.