Tendon and ligament repair technology developer Biorez announced today that it raised $3.5 million in a seed financing round.
New York Angels led the financing round, while Connecticut Innovations, Pritzker Vlock Family Office, Brainchild Holdings and The Vertical Group also participated, according to a news release.
The New Haven, Conn.-based company develops the BioBrace implant, which is comprised of a highly porous collagen sponge reinforced with bioresorbable microfilaments with the intention of augmenting and reinforcing a wide range of tendon and ligament procedures, including rotator cuff repair and ACL reconstruction.
Biorez said that the latest financing round adds to a previously raised $3.5 million, bringing its total funding at the moment to $7 million.
“Our vision is to help patients return to normal activity sooner and safer,” Biorez president & CEO Kevin Rocco said in the release. “BioBrace has the potential to create a new category of implant materials known as “biocomposites” that contain both biologic and synthetic materials. This rationally-designed approach creates an opportunity for more durable surgical repairs and faster healing, which we intend to prove clinically.”
