Garwood Medical Devices Announces Series C Funding

By Julie A. Vetalice

Garwood Medical Devices Announces Series C Funding

Garwood Medical Devices closed a Series C financing round of $4 million to support additional preclinical testing for its BioPrax™ device.

Garwood’s Series B round closed in late 2019 at $3.7 million. These funds added to a 2016 Series A round, which raised $3.6 million.

The minimally invasive BioPrax device is in evaluation to help eliminate biofilm infections on prosthetic joints during early-intervention procedures. In in vivo animal models, BioPrax has shown a 99.6% biofilm reduction with no increased bone or tissue damage as compared to antibiotics alone, which achieved only 81.17% reduction.

FDA granted BioPrax Breakthrough Device Designation in 2019. Porcine studies are expected to begin in September 2020, with first in-human studies in the third quarter of 2021.

"The COVID-19 pandemic has forever changed the healthcare system and is motivating medical professionals to reevaluate all treatment standards," said Wayne Bacon, Garwood Medical's CEO. "During this time of reinvention, hospital administrators are actively seeking out new technologies that have the potential to support the delivery of safe, effective treatment options with the least amount of risk to patients."

 

Product Labels: Knee Replacement

Tags: Funding