|A still shot from a video featuring a computer-generated image of the Rotation Medical Bioinductive Implant in action--Courtesy of Rotation Medical|
Startup Rotation Medical nabbed a $27.2 million Series B round from a group of high-profile VCs including Life Science Partners and New Enterprise Ventures. It will use the money to finance a July launch and postmarket clinical studies of its rotator cuff system that the FDA cleared in March.
The implant is designed to induce new tissue growth and absorb into the patient's body within 6 months, leaving a new layer of tendinous tissue to augment the existing tendon. It is derived from bovine Achilles tendon that is processed and reconstituted to achieve porosity and purity.
The system includes the bioinductive implant and disposable surgical instruments for its placement. It's available in two configurations: flat for mini-procedures and preloaded into the delivery instrument.
"Rotation Medical's technology has the potential to significantly advance current approaches to the treatment of rotator cuff disease--an area for which there is clearly an unmet clinical need," Dr. Fouad Azzam, general partner at LSP, said in a statement. "In an environment that increasingly puts a premium on health care efficiency and effectiveness, we think Rotation Medical's technology and team are particularly well positioned to succeed."
Rotator cuff damage is the most common source of shoulder pain, which affects more than four million people a year in the U.S. Current approaches to repair tissue don't address existing poor tendon quality in patients and repaired tendons often deteriorate again over time and are prone to tears, according to the company.
New investor Life Sciences Partners and existing investor New Enterprise Associates co-led the round, which also included new investor Pappas Ventures. As part of the financing, LSP's Azzam and Scott Weiner from Pappas will join the company's board.
- read the press release