HAPPE Spine closed on a $3.35 million Series A capital raise. The oversubscribed funding was led by strategic investors from within the spine industry along with prominent and continuing investment by the Genesis Innovation Group's cultivate(MD) Seed II Fund.
The company will apply the Series A funding proceeds to launch an innovative interbody spinal fusion implant, with a focus on completing final regulatory testing and obtaining FDA 510(k) clearance, as well as scaling manufacturing operations and the production of implant and instrument inventory. Several new strategic leadership and staff positions within the company will also be added.
HAPPE's orthopedic material platform, HydroxyApatite Porous PEek (HAPPE™), transforms polyetheretherketone (PEEK) from a hydrophobic, bioinert and non-integrating material into a hydrophilic, bioactive and osteointegrating material. As such, the HAPPE material platform promises to improve clinical outcomes in spinal fusion by augmenting the radiolucency, bone-like mechanical properties and subsidence resistance of conventional PEEK with designed cancellous porosity and bioactive surfaces for osteointegration.
Source: HAPPE Spine