Atlanta medical device company lands $11M to launch smart materials orthopedics technology
MedShape, Inc., an Atlanta, Ga.-based medical device company, announced it closed an $11 million funding round that will go toward a full-market launch of the Eclipse Soft Tissue Anchor. The product, made from proprietary thermoplastic, is a shape-memory, soft-tissue repair device that allows surgeons to attach tendons, ligaments or soft tissue to bone.Its shape both allows surgeons “to accommodate a tendon alongside the implant,” and the company claims the product has a better fixation strength than traditional screws. The FDA cleared the device in March. The company began a controlled market release for the Eclipse technology in August.
The funding will also help push pipeline products through to commercialization.
“This latest round of financing represents another significant milestone as MedShape continues its growth in the joint fusion and soft tissue repair segments,” President and CEO Kurt Jacobus said in a release.