Orthopedic implant maker ConforMIS successfully raised $73 million through the sale of stock and convertible securities on Wednesday. The fundraising, noted in a new regulatory filing, is a bit of a coup, in fact, surpassing an initially-announced plan to pull in $68 million through the action.
Including the new bundle of cash, the Burlington, MA company has raised a total of $162 million just since January, representing a significant amount of money raised so far in 2012. ConforMIS pulled in $89 million in a Series E funding round in January.
The company said its January funding round would fuel the commercial launch and manufacturing of its new iTotal total knee replacement system, billed as a first-of-its-kind product. That cash infusion was also intended to fuel development of a new implant for a different body joint, and also add to the company's 200-employee base to enable manufacturing for knee implant devices in Massachusetts. MassHighTech, which covered the initial news, couldn't reach CEO Philipp Lang for comment.
As MassHighTech notes, ConforMIS is armed with more than 250 patents and pending patents for its iFit technology, which converts CT scan data into implants customized for a specific joint.