MedShape raises $11M

October 8, 2013 by Brad Perriello

MedShape says it's raised $11 million to help develop its pipeline of shape memory devices.

MedShape raises $11M

MedShape Inc. said it raised $11 million to advance its pipeline of shape memory devices.

The Atlanta-based medical device company said the proceeds will go toward "further development and commercialization of pipeline products," including the launch of its Eclipse soft tissue anchor.

That device won 510(k) clearance from the FDA in March.

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"This latest round of financing represents another significant milestone as MedShape continues its growth in the joint fusion and soft tissue repair segments," CEO Kurt Jacobus said in prepared remarks. "The launch of Eclipse indicates the company's continued dedication towards advancing orthopedics by developing innovative devices using shape memory technology."

The Eclipse device has been in limited release since August, according to a press release.