Here we go! It’s only been a week since the Conformis acquisition closing and Restor3d needs more capital. Not sure why companies take on acquisitions that they cannot service (eg: Surgalign). I would hate to see the financial terms of this new convertible debt.
3D medtech startup Restor3d raises $17M in new funding (WralTechWire)
Durham-based Restor3d, a medical device company, has raised $17 million from investors, according to a Form D filed Tuesday with the Securities and Exchange Commission.
The money came from 98 investors, according to the filing.
The company specializes in the reconstruction and repair of the human body through 3D printed orthopedic medical devices, machine learning and artificial intelligence. Back in April, it raised $12 million in a convertible debt offering.
And in April 2022, it raised $23 million in a stock offering. That money was used for new product development, research and clinical studies and software. The company moved into a new facility in the Research Triangle Park earlier this year.
Restor3D, which was spun out of Duke University in 2017, received U.S. Food and Drug Administration approval in April for an ankle replacement. The company has multiple FDA product clearances that span lower extremity, upper extremity, spine, and trauma.