Small Bone Innovations Inc. raised $15 million in a Series F round.
The proceeds are earmarked for growing sales for SBi’s Star ankle joint replacement system and its upper limb arthroplasty and trauma reconstruction products, according to the company.
"We are highly encouraged with Star’s performance, as well as the tremendous patient and surgeon feedback it has been receiving. We are committed to investing more in Star’s future to better serve appropriate patients who would benefit from this technology in order to restore the form, function and motion of their ankle," CEO Anthony Viscogliosi said in prepared remarks.
The funding came from New York City-based Viscogliosi Brothers LLC and NGN Capital, in addition to Kuala Lumpur-based Khazanah Nasional Berhad, the Malaysian government and other existing investors.
The company’s latest Securities & Exchange Commission filing from Dec. 9 notes that it raised $4.3 million through an equity and options-based round from one unidentified investor. The filing names CEO Anthony Viscogliosi, Amirul bin Wan Zahir, John Kastanis, John Viscogliosi, Kenneth Abramowitz, Thierry Marmay and Andrew Fink as directors.
Earlier this month SBi offloaded its shoulder-related assets to French orthopedics firm Fx Solutions for an undisclosed amount. Proceeds from the sale are slated for streamlining “product management efforts and accelerate product introductions and launches” — especially its Star total ankle replacement, according to the company.
