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Ceterix Orthopaedics finalizes financing, new patent acquisitions

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Ceterix Orthopaedics recently announced the acquisition of $18 million in new financing. 

Previous investors Novo A/S, Versant Ventures and 5AM Ventures participated in this round of financing. Debt financing was also secured Silicon Valley Bank and Oxford Finance, according to a company press release.

The new round of financing will be used to support commercial expansion of the company’s surgical tools for arthroscopic procedures, which allow surgeons to place stitches in tight joint compartments while protecting sensitive surrounding structures.

Ceterix was also issued two U.S. patents relating to methods of meniscal and soft-tissue repair with the company’s proprietary technology, according to the release.
“These company milestones will allow us to accelerate our efforts to meet the significant need for better surgical outcomes for millions of patients undergoing knee, hip and shoulder procedures each year,” John McCutcheon, Ceterix Orthopaedics president and CEO, said in the press release. “We have been extremely pleased with physician response to our technology, which has exceeded expectations on every front, and look forward to expanding our reach to additional U.S. physicians and patients in the coming months.”