Inovedis closed a Series A funding round totaling $4 million. The infusion will support commercial launch of the SINEFIX implant in the United States, as well as a clinical study taking place in Germany to generate data needed in support of CE Marking and expansion of sales into Europe.
SINEFIX gained FDA 510(k) marketing clearance earlier this year. The system allows refixation of the rotator cuff tendon to bone with a simplified surgical technique optimized for minimally invasive surgery. The new technique requires minimal instrumentation, and removes the complexity of suture management and knot tying, which is time-consuming and requires an extensive range of instruments.
“The new funding brings significant financial capital to accelerate the launch of SINEFIX and innovations that promote improvements in the way rotator cuff tears are treated today,” says Lukas Flöss, Founder and CEO. “We are looking forward to starting a limited market release in the U.S. to begin gathering experience around SINEFIX and working on future product generations.”
This funding was supported by participation from all of Inovedis’ initial seed round investors including High-Tech Gründerfonds, MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg, Volksbank Albstadt ChancenKapital, Start-UP BW Innovation Fonds, angel investors and an initial investment by Renolit SE, the current manufacturer of the SINEFIX implant.
Inovedis closed a Series A funding round totaling $4 million. The infusion will support commercial launch of the SINEFIX implant in the United States, as well as a clinical study taking place in Germany to generate data needed in support of CE Marking and expansion of sales into Europe.
Inovedis closed a Series A funding round totaling $4 million. The infusion will support commercial launch of the SINEFIX implant in the United States, as well as a clinical study taking place in Germany to generate data needed in support of CE Marking and expansion of sales into Europe.
SINEFIX gained FDA 510(k) marketing clearance earlier this year. The system allows refixation of the rotator cuff tendon to bone with a simplified surgical technique optimized for minimally invasive surgery. The new technique requires minimal instrumentation, and removes the complexity of suture management and knot tying, which is time-consuming and requires an extensive range of instruments.
“The new funding brings significant financial capital to accelerate the launch of SINEFIX and innovations that promote improvements in the way rotator cuff tears are treated today,” says Lukas Flöss, Founder and CEO. “We are looking forward to starting a limited market release in the U.S. to begin gathering experience around SINEFIX and working on future product generations.”
This funding was supported by participation from all of Inovedis’ initial seed round investors including High-Tech Gründerfonds, MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg, Volksbank Albstadt ChancenKapital, Start-UP BW Innovation Fonds, angel investors and an initial investment by Renolit SE, the current manufacturer of the SINEFIX implant.
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