Devices & Diagnostics, Startups

Cartiva closes out $8M Series D to bring its synthetic cartilage product geared at osteoarthritis to U.S. market

Georgia medtech startup Cartiva just closed out an $8.5 million Series D, which will fund the […]

Georgia medtech startup Cartiva just closed out an $8.5 million Series D, which will fund the company through PMA approval for its synthetic cartilage implant meant for those with osteoarthritis. It submitted a PMA application to the FDA just last month.

The dollars will also fund Cartiva’s post-510(k) clinical trials on its ProxiFuse Hammertoe Correction System and its thumb osteoarthritis study.

Funding comes from new investor Windham Venture Partners and New Enterprise Associates.

The company’s lead product, Cartiva SCI, is made out of a vinyl and saline-based polymer that settles together in a matrix that can be used for contact lenses, artificial vitreous humors and fake pancreases – and is now being applied as a stand-in cartilage. It’s available in Canada, Europe and South America – but not yet in the U.S. The company just wrapped up a 236-person study of its synthetic cartilage in the great toe.

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