MedShape, Inc., an Atlanta, GA-based developer of shape memory orthopedic devices, closed an $11m financing.
The company intends to use the funds for further development and commercialization of pipeline products, including the full market release of the Eclipse Soft Tissue Anchor, its newest shape memory fixation device for soft tissue repair.
Led by Kurt Jacobus, CEO, MedShape is a medical device company working to develop and commercialize a portfolio of surgical solutions that use its patented shape memory polymer and metal alloy technologies to address the increasing demand for improved sports medicine, joint fusion, and musculoskeletal trauma products.
Eclipse, which is made out of the company’s proprietary PEEK (polyether ether ketone) Altera®, features a non-rotational deployment technique that allows surgeons to better replicate native soft tissue anatomy and functionality. Available in 4-9 mm diameters and 10-20 mm lengths, the device accommodates numerous anatomies in tenodesis and tendon transfer procedures.
MedShape received FDA 510(k) clearance for Eclipse in March 2013. Since August 2013, Eclipse has been under a controlled market release, available to a select group of surgeons. It has been used to perform a proximal biceps repair at Arizona Spine and Joint Hospital in Mesa, AZ, and used in hand, knee, foot and ankle soft tissue reconstruction procedures.