A huge influx of funds will go a long way toward rolling out a product. This is the case with Plymouth, Minnesota-based Rotation Medical, Inc., which has announced the completion a $12 million Series B extension financing.
As indicated in the August 16, 2016 news release, “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.”
“Since launching our Rotation Medical rotator cuff system in fall 2014, we’ve experienced rapid growth and very positive momentum, ” said Martha Shadan, president and CEO of Rotation Medical. “This additional investment in our company will allow us to expand our U.S. presence and continue to support the tremendous physician adoption we have experienced thus far. We are very encouraged by physician and patient response to our bioinductive implant, which we believe serves an important role in helping people with rotator cuff disease heal and get back to an active lifestyle sooner.”
Shadan told OTW, “We have had significant success in the roll-out of the Rotation Medical rotator cuff system with tremendous adoption by physicians in our initial targeted regions. Surgeon utilization is increasing as they see their patients get better faster with less pain, and as a result, a significant number of our surgeons are expanding their usage across the disease spectrum to include partial-thickness tears, full-thickness tears and massive tears where there are no tissue gaps.”
“With this new investment, we will continue to manage the expansion of our field sales organization into key U.S. territories while ensuring we continue to provide the highest level of support. Our initial rollout was heavily focused in the eastern part of the U.S. but as we have gained interest and physician support we are now expanding further west, continuing to build our base of evidence to demonstrate that the Rotation Medical bioinductive implant heals rotator cuff tears by inducing new tendinous tissue growth.”
“We are extremely encouraged by the positive feedback from physicians as well as patients and continue to believe that the Rotation Medical bioinductive implant will change the management of rotator cuff disease.”
My husband has a rotator cuff tear due to heavy lifting, we are looking for non-surgical options. We came across your site and wondering if this procedure is in place yet. We are in Southern California 30 miles East of Los Angeles. Is there any physicians out here that are practicing this procedure. Thank You