DuraStat® Closes Financing to Reach All Spine Facilities with Flagship Product; Expedite New Products

AUSTIN, Texas, April 29, 2022 /PRNewswire/ -- DuraStat LLC, a precision surgical tissue closure company, today announced closing over $5M in a Series B round to rapidly proliferate its flagship dural repair product to every spine facility and to accelerate upcoming product launches. The company plans to scale at 2-3x growth in 2022 with greater than 100% year-over-year growth anticipated in 2023 and beyond.

Across the 43 states where DuraStat is currently used, feedback from surgeons during the initial stages of commercialization has been overwhelmingly positive, indicating the product will imminently become a gold standard instrument serving all spine facilities globally. "Dural repairs, especially inadvertent ones, add significant stress and duration to surgery and when done less than ideally can cause post-op issues. DuraStat not only decreases repair time but also alleviates this stress by increasing any surgeon's ability and confidence to address these repairs." said Stephen Ryu, MD, Chair of Neurosurgery at the Palo Alto Medical Foundation, and Adjunct Professor of Neurosurgery and Electrical Engineering at Stanford University. Dr. Ryu added "You hope not to need DuraStat, but when you do, you're glad to have it on your shelf."

The company plans to leverage its expertise and intellectual property portfolio to launch an additional spine product by late 2022 with more coming to market throughout 2023. Applications beyond spine will soon follow.

"We believe there are various embodiments of our core technology which can help address unmet clinical needs across numerous surgical disciplines; challenges that surgeons face daily which urgently need simple and cost-effective solutions. This financing round delivers the resources we need to fulfil our vision quickly." said Adam Azzara, DuraStat CEO.

About DuraStat

DuraStat, LLC is a medical device company with a unique approach to precision suturing which enables fast, atraumatic tissue approximation by eliminating wrist rotation. DuraStat was invented by Greg Anderson, MD and Mark Kurd, MD (Thomas Jefferson University and Rothman Institute) and developed for global scalability with Kevin Foley, MD (Semmes-Murphey) and Alex Lukianov.

The company recently relocated to Austin, TX to centralize logistics and training efforts in a location accessible to all regions of the United States, while taking part in the rapidly expanding technology development community in the region.

Contact Information

[email protected]

SOURCE DuraStat