Carticept Medical, a developer of devices for osteoarthritis patients, has closed $10m series C financing round to support the commercialization of its Navigator Delivery System (DS).
The Navigator DS, a computer-controlled drug delivery system, automates the preparation and delivery of injections using ultrasound to guide accurate needle positioning.
The automated system helps to ensure accurate dose preparation, while eliminating needle exposure to healthcare workers and minimizing the potential for contamination. After the injection is delivered, the system records the treatment data and automatically creates a record for transfer to an electronic record management system.
Carticept president and CEO Timothy Patrick said with the completion of this financing, they are well positioned to introduce the Navigator DS in orthopaedic and sports medicine centers across the US.
The financing was led by its existing investors Domain Associates, New Enterprise Associates and SonoSite.