Sensor-assisted orthopedic technology developer OrthoSensor filed an SEC Form D yesterday confirming the sale of $1.3 million in debt.
Dania Beach, Fla.-based OrthoSensor made its first sale in the new notice on Oct. 9, 2020. The offering total is $2.5 million, leaving $1.2 million remaining to be sold, according to the filing.
The offering, which is not being made in connection with a business combination transaction, including a merger, acquisition or exchange offer, is not expected to last longer than one year. So far, five investors have contributed to the fundraising round.
OrthoSensor develops the Verasense sensor-assisted technology, which it touts as the only single-use intelligent sensor that measures tibial coronal alignment and ensures soft-tissue balance. The technology received FDA 510(k) clearance in April.
Verasense is used during primary and revision total knee arthroplasty in tandem with the Zimmer Biomet Persona knee implant system before it is discarded. The sensor is designed to transmit real-time data to a display unit in the operating room, allowing surgeons to make more informed decisions about implant alignment and soft-tissue balance.