Sparta Biomedical closed a heavily oversubscribed convertible funding round. The company has developed the Ormi device to treat knee osteoarthritis. Ormi was granted Breakthrough Device Designation by FDA in 2021, and also secured initial funding within that year.
The newly-secured capital will accelerate Sparta’s preparations for the Investigational Device Exemption study preparations of Ormi.
Sparta’s implant is a minimally invasive treatment for chondral or osteochondral defects of the knee cartilage. It mimics the properties of native cartilage and provides a smooth articulating surface, lending support to surrounding cartilage while stabilizing subchondral bone, and thereby limiting further exacerbation of the disease.
Sparta Biomedical closed a heavily oversubscribed convertible funding round. The company has developed the Ormi device to treat knee osteoarthritis. Ormi was granted Breakthrough Device Designation by FDA in 2021, and also secured initial funding within that year.
The newly-secured capital will accelerate Sparta’s preparations for the...
Sparta Biomedical closed a heavily oversubscribed convertible funding round. The company has developed the Ormi device to treat knee osteoarthritis. Ormi was granted Breakthrough Device Designation by FDA in 2021, and also secured initial funding within that year.
The newly-secured capital will accelerate Sparta’s preparations for the Investigational Device Exemption study preparations of Ormi.
Sparta’s implant is a minimally invasive treatment for chondral or osteochondral defects of the knee cartilage. It mimics the properties of native cartilage and provides a smooth articulating surface, lending support to surrounding cartilage while stabilizing subchondral bone, and thereby limiting further exacerbation of the disease.
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