ZipLine Medical, which last week reported a more than $16 million funding round in a regulatory filing, said today that it pulled in $19 million for its Zip surgical wound closure technology, led by new backer MVM Life Science Partners and including existing investor China Materialia.
“This financing allows us to further expand our global sales and marketing activities leveraging the favorable clinical study results and strong support from key opinion leaders among clinicians,” president & CEO John Tighe said in prepared remarks.
Campbell, Calif.-based ZipLine said it’s adding MVM partner Dr. Bali Muralidhar and MVM managing partner Dr. Stephen Reeders to its board as part of the financing.
“I am impressed by the broad applicability as well as extensive clinical and economic benefits of ZipLine’s products. This makes ZipLine a perfect fit in our healthcare investment portfolio,” Muralidhar said.
“We are pleased to participate in this new infusion of capital to help carry the company to the next level of growth and commercial success,” Reeders added.
The Zip is a low-cost, non-invasive skin closure device designed to be alternative to suturing and stapling and to cut down on surgical site-related infections. The device has 510(k) clearance from the FDA.