Rotation Medical Secures $12 Million in Series B Extension Financing
PLYMOUTH, MN (August 16, 2016) – Rotation Medical Inc., a medical device company focused on developing new technologies to treat rotator cuff disease, today announced that it completed a $12 million Series B extension financing. The existing investors – New Enterprise Associates (NEA), Life Sciences Partners (LSP) and Pappas Ventures – all participated in the financing, which is fundable in two tranches: $8 million initially and $4 million in 2017. The company intends to use the proceeds to continue the acceleration of U.S. commercialization activities for the Rotation Medical rotator cuff system, which is comprised of a proprietary bioinductive implant and disposable instruments that allow the arthroscopic procedure to be performed easily and quickly.
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