Arthromeda Inc. Completes Successful Preclinical Studies and Closes Funding for Its ArthroSight Patient-Specific Navigation Platform
LOWELL, Mass., June 1, 2017 /PRNewswire/ -- Arthromeda, Inc., a developer of intelligent orthopedic navigation systems, closed its Series D financing to take the ArthroSight-PS Hip Alignment System (ArthroSight-PS) through commercial regulatory approvals and clinical validation. This was achieved following a series of successful cadaver labs conducted by surgeon Daniel Ward, MD (New England Baptist Hospital, Boston, MA) at the Cincinnati Children's Hospital and Medical Center translational research lab (Cincinnati, OH). The cadaveric studies confirmed that the ArthroSight- PS is an intuitive All-in-One system for accurate and precise implant positioning, providing real-time position angles (inclination and anteversion), leg length and femoral offset difference measurements. Videos from the labs can be found in Arthromeda's newly released clinician and patient focused website www.arthromeda.com.
Accurate hip implant positioning is an extremely important factor for patients, physicians, regulators and device companies. In recent years, the number of hip surgeries has skyrocketed with increasing numbers of younger adults getting the procedure according to popular press reports. Over the 10 years of the study, the number of procedures more than doubled, from 138,700 in 2000 to 310,800 in 2010. The number grew by 92 percent, to 80,000, among those aged 75 and older. It jumped by 205 percent in those aged 45 to 54, to 51,900. Due to the aging baby boomer population, the magnitude of the problem is projected to increase dramatically – doubling by 2030.
"Patient-specific solutions in surgery that are individualized to patients at an affordable cost are important. I am delighted to support Arthromeda in its game-changing mission to help patients undergoing hip arthroplasty experience superior outcomes," commented Edgar D. Jannotta, Jr., Arthromeda Director and lead investor.
Elsa Chi Abruzzo, RAC, FRAPS, chief operating officer of Arthromeda, commented, "I am grateful to our founder and executive chairman, Mr. PJ Anand, for his clear strategic vision and leadership. I also appreciate the technical insight of our cofounder and Chief Technical Officer, Mehran Aghazadeh, MD. We are excited to execute on the next phase of development of this elegant solution for real-time, accurate, acetabular cup positioning and leg length and femoral offset adjustments, without the expensive capital investments or increased procedure time associated with robotic and imaged-based systems."
Foley Hoag LLP, led by Life Sciences Practice chair Jeffrey Quillen and Patrick Connolly, represented Arthromeda in the financing. Mr. Quillen & Connolly have represented Arthromeda since its founding in 2011.
About Arthromeda, Inc.
Founded in 2011, Arthromeda, Inc. is a private medical device company focused on developing intuitive, real-time, sensor based, intelligent technologies to improve surgical outcomes for patients undergoing joint replacement procedures. As part of its extensive patent protected intellectual property portfolio, Arthromeda has created two distinct, yet complimentary, technology platforms to reduce operating room time, improve patient outcomes, and reduce the cost burden associated with early implant failure. More information can be found at www.arthromeda.com
Contact:
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SOURCE Arthromeda, Inc.
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