A Medical Device Daily
KFx Medical (Carlsbad, California), a developer of minimally invasive percutaneous repair systems for rotator cuff repair, said it has closed a Series B financing.
Investors in the $10 million financing round included lead investor Alloy Ventures and returning investors Charter Life Sciences, Arboretum Ventures, Montreux Equity Partners and MB Venture Partners.
"The participation of Alloy Ventures and its partner Craig Taylor, along with the return of our previous investors is very rewarding," said Tate Scott, president/CEO of KFx. "This financing enables us to further our goals as we begin the distribution of the most secure rotator cuff repair available."
Taylor, a managing partner of Alloy, will join the KFx board of directors.
According to the company, more than four million people seek medical advice for shoulder pain every year; torn rotator cuffs alone account for more than 500,000 surgeries annually and have traditionally required many weeks of rehabilitation. Patients typically experience less pain and regain full range of motion more quickly with traditional minimally invasive techniques; however, these require surgeons to have advanced videoscopic skills. In contrast, KFx provides a simple system for surgeons, which ensures a more anatomical repair and yields a better clinical outcome for the patient, the company said.
KFx Medical was founded in 2003 to develop clinically relevant solutions for rotator cuff repair. The company is privately held.