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California start-up making surgical tools for orthopedics procedures raises $19.5 million

6:28 am by | 0 Comments

Ceterix Orthopaedics, based in Menlo Park, California, which makes surgical tools for arthroscopic procedures has raised $19.5 million, according to a regulatory filing.

More specifically, the company, previously known as SuturePro Technologies Inc., makes a suturing technology that allows surgeons to place stitches in difficult anatomical regions – in “very tight joint compartments” – without affecting adjacent nerves, cartilage and tissue, according to Ceterix’s website.

Five investors participated so far in the round, with the company hoping to raise another $1.10 million. In October, 2010, Ceterix raised $8.1 million in a Series A round in which Versant Ventures and 5AM Ventures invested.

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The company was founded on the inventions of Dr. Justin Saliman, an orthopaedic surgeon with a specialization in sports medicine.

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Arundhati Parmar

By Arundhati Parmar

Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.
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