Conventus Orthopaedics said today it closed a $20 million round of financing to support its Conventus Cage implant device designed for 3D fixation and fracture repair.
The Conventus Cage is designed to allow for a “less invasive” reliable 3D fixation for treating proximal humerus, distal radius and proximal radius fractures, the company said.
The round was led by Deerfield Management and was funded entirely by the Minneapolis-based company’s existing ownership syndicate.
“The Cage is the future of fracture repair. We are pleased that our investor syndicate, led by Deerfield, share that vision and continue to provide financial support with a long-term view to realize the full potential of this technology,” exec chair Scott Flora said in a press release.
“The Cage is a truly innovative technology, poised to disrupt the orthopaedic trauma market. The early clinical results have been outstanding, leading us to continue our long-term investment thesis in the company,” Deerfield Management partner Dr. Avi Kometz said in a prepared statement.
In November 2015, Conventus said it completed a $23.5 million round of equity financing to support the Conventus Cage device.