Minnesota-based Rotation Medical plans in coming weeks to advance its commercial efforts for its rotator cuff system thanks to the $27.2 million in raised from new and existing investors.
The oversubscribed Series B financing included backing from new investor Life Sciences Partners who co-led funding with New Enterprise Associations. New investor Pappas Ventures also joined the round among unnamed other backers.
"The support of this highly experienced investor base validates the significant opportunity to advance care of patients suffering from rotator cuff disease with the Rotation Medical technology," president & CEO Martha Shadan said in prepared remarks. "We are thrilled to be working with financial partners with such deep domain experience in the life sciences and healthcare and look forward to introducing our technology to clinicians in the next few weeks."
Rotator cuff damage affects more than 4 million people per year in the U.S. alone, but current treatment methods don’t address underlying tendon health. Rotation’s implant help spur new growth to thicken and strengthen the damaged tendon.
"Rotation Medical’s technology has the potential to significantly advance current approaches to the treatment of rotator cuff disease – an area for which there is clearly an unmet clinical need," Life Sciences Partners general partner Dr. Fouad Azzam said on behalf of Rotation Medical. "In an environment that increasingly puts a premium on health care efficiency and effectiveness, we think Rotation Medical’s technology and team are particularly well positioned to succeed."
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