Orthopedic balloon startup raises $2.6M to treat shoulder
Ortho Space Ltd. has raised $2.6 million at a company value of $11.5 million, after money. TriVentures LP led the round. Ortho Space is a subsidiary of Bioprotect Ltd. Both companies are graduates of Xenia Venture Capital Ltd. (TASE:XENA) incubator.
Ortho Space’s balloons are used to treat torn ligaments in the shoulder, and have been implanted in 150 patients to date in a clinical trial. The biocompatible balloon imitates the natural physiological bursa underneath the acromion.
OrthoSpace Ltd. designs and develops new technology separates tissue using a balloon made of biodegradable material. The product creates a space between a tumor and the nearby healthy tissue. The product is also used in orthopedics, as an implant in the shoulder of patients with massive tears in the muscle and tendon. OrthoSpace Ltd. is based in Israel.