Healthcare Industry News: HSMN NewsFeed
News Release - May 24, 2023
Artelon, Inc. Secures $20M in Funding to Advance Surgical Treatment of Joint InstabilityNew financing led by Vensana Capital to support commercial expansion and launch of new surgical solutions for joint instability
MARIETTA, Ga., May 24, 2023 -- (Healthcare Sales & Marketing Network) -- Artelon Inc., a privately held medical device company, announced today that it closed approximately $20 million in Series B funding, led by Vensana Capital with expected additional participation from existing investors. The financing will fund commercial growth, clinical research, and expansion of Artelon's product line for surgical treatment of ankles and other joints.
"Artelon is focused on bringing value to patients and healthcare providers through a platform that enhances soft tissue repair while restoring stability and motion," said Greg Banker of Vensana Capital. "They are on a mission to enable faster recovery and improved outcomes for patients, while fitting seamlessly into clinical workflows." Added Vensana's Kirk Nielsen, "Vensana is excited to join the Artelon team and to support their efforts to establish themselves as a technology and market leader."
Artelon's Dynamic Matrix® technology is a proprietary polymeric bio-textile for musculoskeletal soft tissue reconstruction. Dynamic Matrix is designed to mimic the natural mechanical and biological properties of healing ligament tissue. It has been proven in clinical studies to protect the surgical repair during early healing, quickly restore the mechanics of motion, and support development of regenerating tissue before dissolving over five to six years.
Artelon, Inc. was founded on expertise in synthetic materials for real-world success in orthopedic soft tissue reconstruction. Since its inception, Artelon's Dynamic Matrix has delivered on its promise of enhanced biological and mechanical reconstruction with more than 60,000 implantations worldwide. Artelon is headquartered in Marietta, GA., and is committed to an innovative focus on joint stability and kinematics through novel soft tissue reconstructive products and procedures.
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About Vensana Capital
Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with entrepreneurs who seek to transform healthcare with breakthrough innovations in medical technology. Launched in 2019, Vensana manages $550M in capital and is actively investing in development and commercial stage companies across the Medtech sector, including medical devices, diagnostics and data science, life science tools, digital health, and tech-enabled services. Vensana's investment team has a history of successfully partnering with management teams behind industry-leading companies including Cameron Health, CardiAQ, Cartiva, CV Ingenuity, Epix Therapeutics, Inari Medical, Intact Vascular, Lutonix, Neuwave Medical, Personal Genome Diagnostics, Sequent Medical, Topera, Ulthera, Veran Medical Technologies, Vertiflex, and Vesper Medical. Learn more at www.vensanacap.com.
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