Ceterix Orthopaedics, a Menlo Park, Calif.-based developer of surgical tools, received an up to $35m loan from CRG and certain of its affiliate funds.
This financing will allow the company to expand R&D.
Founded in 2010 and led by John McCutcheon, president and CEO, Ceterix Orthopaedics advances new technologies and improve patient outcomes in the meniscal surgery space. Its NovoStitch® suture passer, which enables orthopaedic surgeons to treat complex injuries by allowing the placement of a circumferential compression stitch in the knee meniscus, is currently in use by more than 300 U.S. physicians.
The NovoStitch technology can also be utilized in minimally invasive hip and shoulder procedures.
The company is backed by investors Novo Ventures, Versant Ventures and 5AM Ventures.
FinSMEs
08/05/2015