Trice Orthopedics said it closed a bridge loan financing worth about $3 million.
The King Of Prussia, Pa.-based medical device company said BioStar Ventures led the round, along with Millennium Life Sciences, existing investors and several new private backers.
“These proceeds will fund the company through its 510(k) submission, in Q1 2014, and the start of commercialization in mid-2014. We look forward to this next stage of our development. I believe that there will be a tremendous amount of opportunity in the orthopedic markets for the Trice device,” president Richard Washburn said prepared remarks.
Trice named Washburn president in June. A 20-year veteran of new product development, Washburn most recently was president of Core Essence Orthopaedics.
Trice is developing "camera-enabled needle technologies that integrate miniaturized opto-electronics into well-designed clinical solutions," according to its website.
