Inovedis GmbH, an Albstadt, Germany-based medical technology startup, closed a $4m Series A funding round.
The round was supported by participation from all the initial seed round investors including High-Tech Gründerfonds, MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg, Volksbank Albstadt ChancenKapital, Start-UP BW Innovation Fonds, angel investors, and an initial investment by Renolit SE, the current manufacturer of the SINEFIX implant.
The company intends to use the funds for the commercial launch of the SINEFIX® implant system in the United States and for sponsoring a clinical study taking place in Germany to generate data needed in support of CE marking and expansion of sales into Europe.
Led by Lukas Flöss, Founder and CEO, and Dr. Stefan Welte, inventor of SINEFIX and co-founder, Inovedis is dedicated to offering innovative solutions that contribute both to optimized patient care as well as minimizing the complexity of surgical interventions. SINEFIX, which received FDA clearance in 2023, allows refixation of the rotator cuff tendon to bone with a simplified surgical technique optimized for minimally invasive surgery. The new technique requires minimal instrumentation, and removes the complexity of suture management and knot tying which is time-consuming, and requires an extensive range of instruments.
FinSMEs
05/10/2023