Rotation Medical completed a US $12MM Series B extension financing. Proceeds will support U.S. commercialization of a rotator cuff repair system, comprising a proprietary bioinductive implant and disposable instruments.
Existing investors New Enterprise Associates, Life Sciences Partners and Pappas Ventures all participated in the round.
The implantable collagen tendon sheet received FDA 510(k) clearance in 1Q14 and launched later that year. Also within 2014, the company initiated a 2-year U.S. multi-center postmarket clinical study to investigate tendon healing and tissue growth following implantation of a bioinductive implant that is used as either a standalone treatment or as an adjunct to surgical repair.
Sources: Rotation Medical Inc.; ORTHOWORLD Inc.