CURITEVA RAISES $20.5 MILLION IN FUNDING ROUND (Orthopedics This Week)
Huntsville, Alabama-based Curiteva, Inc., a spinal device company, has closed its oversubscribed Series A private funding round at a total of $20.5 million.
The company initiated the funding round at the end of last year. Proceeds from the financing will go towards technology acquisitions, product development, and scaling manufacturing.
Curiteva’s Chief Executive Officer Mike English is an industry veteran with over 20 years of medical device experience at all leadership levels. English expressed appreciation stating, “We are sincerely grateful to our investors who expressed confidence in our strategic vision by investing personal capital during this uncertain time.”
Founded in 2017, Curiteva is a privately held medical technology and manufacturing company focused on spinal implant systems. Curiteva launched its first product in January 2019. Its product portfolio includes the APTITUDE standard and midline anterior cervical plate system, PRODIGY™ pedicle screw system, PRODIGY™ MIS pedicle screw system, SAGE cervical interbody fusion system, SAVANT posterior lumbar interbody fusion system, and SAVANT transforaminal lumbar interbody fusion system.
COVID-19 dramatically impacted the orthopedic sector with the shut-down of elective procedures. Despite these uncertainties, Curiteva recently reported six consecutive quarters of revenue growth.
The funds will be used to foster additional growth, with some funds being used to expand the company’s manufacturing facility. Looking forward, Curiteva promises to “expand the product line by focusing on emerging market segments to introduce technological product innovation advancing patient care.”
Curiteva Chief Financial Officer Phil Cupero joined the company last year. He has experience leading corporate financial teams and enhancing operations. Most recently he worked for a pharmaceutical manufacturer where he led the finance team during a period of significant growth.
Cupero expressed excitement when discussing Curiteva. Cupero said, “I see so many exciting similarities to my last experience with a company that can scale manufacturing, control costs, and sustain rapid revenue growth.”