Colorado startup device maker JustRight Surgical closed a $7.5 million financing round with the help of 50 unnamed investors, regulatory filings show.
The company raised the funds by selling equity from May 2-15, according to the SEC filing. The company didn’t say what it plans to do with the new funds.
The new financing joins a pair of filings reported late last year, through which JustRight raised $10.5 million from a bevy of investors.
JustRight Surgical, founded in 2010, develops surgical instruments to provide access to "confined and often delicate structures." The company’s product portfolio includes the JustRight Surgical Vessel Sealing System, the JustRight Generator JR100 and the JustRight Sealer JR-SE20.
The company in February won FDA 510(k) clearance for its JustRight 5mm Stapler, which the company calls "the smallest classic stapler on the market."
"The needs of our smallest patients are unique, yet the surgical tools available to surgeons for these cases are virtually non-existent," JustRight co-founder and medical advisor Dr. Steve Rothenberg said in prepared remarks. "In the electronics industry, miniaturization happens almost faster than we can absorb the changes. Meanwhile, the downsizing of surgical instrumentation has remained stagnant and we have made it our mission to change that."