CYMEDICA ORTHOPEDICS ANNOUNCES $11.5 MM SERIES A FUNDING ROUND
CyMedica Orthopedics™, Inc. has closed an extension to its Series A financing. The Series A financing was led by investors Research Corporation Technologies, Inc., a Tucson-based venture capital firm, and California Technology Ventures, LLC, a Pasadena-based venture capital fund. The financing also included participation from existing investor Aphelion Capital (Mill Valley, CA) and the founding group of investors.
Delivering professional athlete rehabilitation for every patient, the QB1 capitalizes on proprietary revolutionary NMES (neuromuscular electrical stimulation) technology for the treatment of quadriceps muscle atrophy and combines three best-in-class products: a postoperative knee brace, a form-fitting conductive garment, and a user friendly NMES control interface. The device substantially simplifies the delivery of “at home” NMES treatment and encourages patient compliance.
“The CyMedica QB1 knee brace and wrap is a game changer in orthopedics,” says Dr. Struan Coleman, CyMedica cofounder, specialist in sports medicine at the Hospital for Special Surgery and NY Mets Head Team Physician. “The QB1 will allow the orthopedic surgeon to treat every patient like a professional athlete by initiating neuromuscular activation immediately following knee surgery. For the first time, the patient, the surgeon and the physical therapist will all be equally involved in postoperative rehabilitation of the knee.”
The QB1 NMES system delivers high intensity electrical muscle stimulation while maintaining patient comfort. The QB1’s proprietary closed-loop system monitors and adjusts the electrical stimulation power delivered to the patient to ensure consistent and comfortable quadriceps activation.
The company’s first product, the CyMedica QB1™ system for the treatment of quadriceps muscle atrophy, was first shown at the AAOS meeting in March 2015. In April 2015, it received 510(k) clearance and was launched at the Arthroscopy Association of North American Arthroscopic Society for Sports Medicine (AANA) annual meeting in Los Angeles. Since launch, surgeons and patients have received the QB1 system enthusiastically across the United States.
The CyMedica QB1 allows the surgeon to combine three best-in-class products to allow the orthopedic surgeon to treat “every” patient like a professional athlete: a postoperative knee brace, a form-fitting conductive garment, and a user-friendly NMES control interface. The QB1 technology utilizes the first closed-loop power control system delivering high intensity electrical muscle stimulation to patients while maintaining comfort. The device substantially simplifies the delivery of at-home NMES treatment and encourages patient compliance.
“This successful round of financing will enable us to expand our sales and distribution footprint and further support the continued rollout of our QB1 System,” said Rob Morocco, President and CEO of CyMedica Orthopedics. “We’re excited to have the backing of an excellent group of strategic investors supporting us in building the organization and expanding the applications of our platform technology.”
For more information on the CyMedica Orthopedics QB1 please visit www.cymedicaortho.com
About CyMedica Orthopedics, Inc. Based in Scottsdale, Arizona, CyMedica Orthopedics is a privately held medical device company that develops and commercializes innovative products that target muscle atrophy using its platform technology. That technology includes the first closed-loop power control system to provide patients comfortable yet aggressive treatment.
Cymedica Orthopedics, Inc.
19120 Pima Road Suite 135
Scottsdale, AZ 85255
Contact: Rob Morocco
SOURCE CyMedica Orthopedics, Inc