Conventus Orthopaedics, Inc., a Maple Grove, MN-based medical device company developing a proprietary nitinol “Cage” technology for treatment of periarticular fractures, raised a $12m venture loan.
Horizon Technology Finance Corporation (NASDAQ: HRZN), a specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries, provided the financing.
The company will use the proceeds to commercialize its proximal humerus fracture fixation therapy while developing further indications for this technology.
Led by Matthew Jewett, CEO and President, Conventus is advancing the Conventus Cage™ fracture repair solution which is designed to offer patients and surgeons an improvement over traditional techniques by providing intramedullary support. Backed by top investors including Deerfield Management and SightLine Partners, the Cage technology has been well received by orthopedic surgeons and their patients.