Rotation Medical, a Plymouth, MN-based medical device company focused on developing new technologies to treat rotator cuff disease, secured $27.2m in Series B financing.
The round was co-led by new investor Life Sciences Partners (LSP) and New Enterprise Associates (NEA) with participation from new investor Pappas Ventures and others. In conjunction with the funding, Fouad Azzam, Ph.D., from LSP and Scott Weiner from Pappas Ventures will join Rotation’s Medical Board of Directors.
The company intends to use the funds for the commercial launch and post-market clinical studies of the Rotation Medical rotator cuff system.
Founded in 2009 by Martha Shadan, CEO and President, Rotation Medical is committed to improving the treatment of rotator cuff disease with the Rotation Medical rotator cuff system, which has the potential to prevent rotator cuff disease progression and reduce re-tears by inducing the growth of new tendinous tissue. The Rotation Medical rotator cuff system combines a proprietary bioinductive implant designed to induce tendinous tissue growth with a set of novel, arthroscopic disposable instruments that allow the procedure to be performed reproducibly.
The company received 510(k) clearance from the Food and Drug Administration (FDA) for its implantable bioinductive implant technology in March 2014.