Sparta Biomedical Raises $5M in Seed Financing

Sparta Biomedical, a Durham, NC-based privately held medical device company, raised $5M in Seed funding.

The round was led by Nanosha LLC, a family office, with participation from Duke Angel Network, as well as several medtech, international, and other strategic angel investors. In addition to the funding, Sparta hired Ken Gall, PhD to the Board of Directors.

The company intends to use the funds to complete preclinical activities for IDE submission.

Co-Founded by Dushyanth Surakanti, CEO, and Dimitrios Angelis, COO, and also led by Dr. Benjamin Wiley, CTO, Sparta Biomedical is a medical device company targeting partial knee resurfacing. Its SBM-01 Biomimetic Implant is a minimally invasive treatment for chondral or osteochondral defects of the knee cartilage. It mimics the properties of native cartilage and provides a smooth articulating surface, providing support to surrounding cartilage while stabilizing subchondral bone, and thereby limiting further exacerbation of the disease.

The company has assembled a team of clinical advisers, including:

  • Adam B. Yanke, MD, PhD
  • Brian R. Waterman, MD
  • Seth L. Sherman, MD
  • Kristofer J. Jones, MD
  • LTC Jonathan F. Dickens, MD