Schwartz Biomedical subsidiary BioPoly this week registered for a $5 million Series D round for its joint resurfacing technology.
The BioPoly material combines hyaluronic acid, a naturally occurring lubricant found in joint synovial fluid, and ultra-high-molecular-weight polyethylene, a biocompatible polymer. It’s designed to be used during arthroplasty procedures and won CE Mark approval in the European Union in June 2011.
According to a regulatory filing, BioPoly has raised $300,000 toward the hoped-for $5 million equity round, from a single investor. The Fort Wayne, Ind.-based has raised $13.8 million to date, according to its website, including $4 million in grants from Indiana’s 21st Century Fund, a $2 million Series A round in 2010, a $2.5 million Series B round in 2011 and a $5 million Series D round in 2014.