Garwood Medical Devices, a Bufalo, N.Y.-based minimally invasive device company, closed its $3.7m Series B funding.
Backers included the WNY Impact Investment Fund, 17 investors from Series A, and 18 other new investors.
The company intends to use the funds for continued research and testing of its innovative BioPrax™ device, which is under evaluation for knee implant biofilm infection control. This adds to the $3.6m raised in Series A financing that closed in September 2016.
Led by Wayne Bacon, CEO, and Brian Peterson, VP of Engineering and CTO, Garwood Medical Devices is advancing a minimally invasive device designed to help eliminate biofilm infections on prosthetic knee implants during early intervention procedures. It was recently granted Breakthrough Device designation by the FDA.
The additional funding will be used to conduct further tests to support FDA submission.
The company claims the technology has the potential to help eliminate biofilm infections on other medically implanted metal devices including all artificial joints, bone screws and plates, and dental implants.