New Enterprise Associates (NEA), Life Science Partners (LSP) and Pappas Ventures, who are the existing investors, have all participated in the financing.
The amount is fundable in two portions, $8m will be funded initially, followed by the remaining $4m in 2017.
Rotation Medical has plans to leverage this finance to expand its presence in US market by offering its rotator cuff system product.
The company says that rotator cuff damage is one of the most common sources of shoulder pain that affects about 4 million people alone in US annually.
Conventional treatments for degenerated or tom rotator cuffs often do not tackle the underlying tissue’s poor quality. Much of these tendons after treatment can either degenerate further and/or re-tear.
Rotation Medical claims that its bioinductive implant, which obtained the approval from US Food and Drug Administration in March 2014, has been designed to induce tissue growth at the site of implantation. This results in increased tendon thickness, while tendon defects are healed with new tissue growth.
According to Rotation Medical, rotator cuff system features a bioinductive implant and disposable instruments that let arthroscopic procedure to be performed easily and quickly.
Rotation Medical president and CEO Martha Shadan said: “Since launching our Rotation Medical rotator cuff system in fall 2014, we’ve experienced rapid growth and very positive momentum.
“This additional investment in our company will allow us to expand our U.S. presence and continue to support the tremendous physician adoption we have experienced thus far.
“We are very encouraged by physician and patient response to our bioinductive implant, which we believe serves an important role in helping people with rotator cuff disease heal and get back to an active lifestyle sooner.”
