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ZuriMED Technologies closed a Series A financing round worth CHF 14.5 million (~USD $16.5 million).
With this funding, ZuriMED will accelerate the development and market uptake of its Surgical-Fiberlock™ technology for minimally invasive surgical repair of soft tissues. The secured financing will facilitate regulatory registration of a first product based on this technology that targets shoulder rotator cuff repair. ZuriMED aims to broadly leverage its groundbreaking technology to address the growing surgical device market in both the United States and Europe within the next three years.
Furthermore, with support from the recently introduced Innosuisse Swiss Accelerator Grant program, ZuriMED will receive an additional CHF 2.4 million (~$2.7 million) of non-diluting funding. This financial boost will expedite product development and regulatory registration of a second Surgical-Fiberlock device aimed at minimally invasive surgical repair of herniated lumbar discs.
“The Surgical-Fiberlock technology is a breakthrough innovation in tendon augmentation and closure that offers benefits for both the surgeon and the patient. Approximately 500,000 rotator cuff repairs are done annually in the U.S. and yet 25% of these repairs fail to heal. We know that biology is the limitation. For a surgeon like myself, Surgical-Fiberlock technology improves surgical efficiency and strength of a repair. For patients, I expect we will see better post-operative healing, with improved functional outcomes and a quicker recovery after surgery,” said Patrick Denard, M.D., a leading U.S. shoulder surgeon.
Source: ZuriMED
ZuriMED Technologies closed a Series A financing round worth CHF 14.5 million (~USD $16.5 million).
With this funding, ZuriMED will accelerate the development and market uptake of its Surgical-Fiberlock™ technology for minimally invasive surgical repair of soft tissues. The secured financing will facilitate regulatory registration of a first...
ZuriMED Technologies closed a Series A financing round worth CHF 14.5 million (~USD $16.5 million).
With this funding, ZuriMED will accelerate the development and market uptake of its Surgical-Fiberlock™ technology for minimally invasive surgical repair of soft tissues. The secured financing will facilitate regulatory registration of a first product based on this technology that targets shoulder rotator cuff repair. ZuriMED aims to broadly leverage its groundbreaking technology to address the growing surgical device market in both the United States and Europe within the next three years.
Furthermore, with support from the recently introduced Innosuisse Swiss Accelerator Grant program, ZuriMED will receive an additional CHF 2.4 million (~$2.7 million) of non-diluting funding. This financial boost will expedite product development and regulatory registration of a second Surgical-Fiberlock device aimed at minimally invasive surgical repair of herniated lumbar discs.
“The Surgical-Fiberlock technology is a breakthrough innovation in tendon augmentation and closure that offers benefits for both the surgeon and the patient. Approximately 500,000 rotator cuff repairs are done annually in the U.S. and yet 25% of these repairs fail to heal. We know that biology is the limitation. For a surgeon like myself, Surgical-Fiberlock technology improves surgical efficiency and strength of a repair. For patients, I expect we will see better post-operative healing, with improved functional outcomes and a quicker recovery after surgery,” said Patrick Denard, M.D., a leading U.S. shoulder surgeon.
Source: ZuriMED
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
