A Minnesota startup that treats wrist fractures using a less-invasive technique is seeking $2 million, according to a regulatory filing.
Conventus Orthopaedics has already raised $200,000 with a mix of debt and options. The company makes the Distal Radius Surgical System, an expandable implant that is meant to treat distal radius fractures without touching the region around the wrist. The benefits of the expandable, less invasive implant, are greater flexibility that is achieved much more quickly than those afforded by traditional methods, according to the company.
The company conducted a 60-patient multicenter European clinical trial and found that the DRS Implant was able to heal fractures in 12 weeks, with some occurring in half that time.
Conventus is led by Paul Hindrichs, a former St. Jude Medical executive, and investors in the company are Spray Venture Partners and TPG Biotech.
[Photo Credit: Pile of Money from Big Stock Photo]
