Active Implants LLC, a Memphis, TN-based developer of cushion bearing orthopaedics, closed the first tranche of $8.7m in new funding.
The total commitment amounts to $26m.
The round was led by View Capital RIA, L.P. and River Street Management.
Led by Henry Klyce, Chairman and CEO, Active Implants aims to introduce orthopaedic implant solutions that better integrate with the natural biomechanics of the musculoskeletal system.
The company, which has additional offices in Driebergen, The Netherlands and Netanya, Israel, intends to use the funds to complete a Multi-Center Trial on its NUsurface® Meniscus Implant, which is designed to fill a treatment gap between non-operative care and knee replacement surgery.
Active Implants is currently enrolling patients in Europe and Israel, and initiate a randomized clinical trial to support application for U.S. regulatory approval.