Ceterix Orthopaedics Completes $19.5 Million Series B Financing
MENLO PARK, California – January 22, 2013 – Ceterix® Orthopaedics, Inc., a developer of novel surgical tools for arthroscopic procedures, today announced that the company has completed a $19.5 million series B financing. The round was led by new investor Novo Ventures. Previous investors Versant Ventures and 5AM Ventures also participated in the round. In connection with the financing, Peter Bisgaard, Partner with Novo Ventures, joined the Board of Ceterix.
“We are very excited to add Novo Ventures as a new investor and grateful for the additional support from our existing investors,” said John McCutcheon, Ceterix President and CEO. “This additional financing represents a significant vote of confidence for our progress to date and will bring us closer to meeting the need for better surgical outcomes for the millions of patients undergoing knee, hip and shoulder procedures each year.”
Ceterix Orthopaedics, Inc. develops novel surgical tools for arthroscopic procedures. The technology enables surgeons to place stitches in very tight joint compartments, while protecting sensitive surrounding structures such as nerves, arteries and cartilage. This technology has applications in numerous procedures in knees, hips, and shoulders.
About Ceterix Orthopaedics
Ceterix Orthopaedics, Inc. was founded in October 2010 based on the inventions of Dr. Justin Saliman, who envisioned improving the outcomes of arthroscopic procedures by enabling surgeons to place suture patterns that can only be done in open procedures, or not at all, today. The company is based in Menlo Park, Calif. For more information, please visit http://www.ceterix.com/cet/.
About Novo Ventures
Novo is the holding company of the Novo Group, and is wholly owned by the Novo Nordisk Foundation. It was established in 1999 to manage the assets of the foundation and actively make investments on its behalf. Novo Ventures focuses on life sciences venture capital, and is active in both Europe and North America. The firm has four partners in Copenhagen, one in London and four in San Francisco. With an evergreen structure, it annually invests approximately $150 million in venture capital into private and public life sciences companies. For more information, please visit: www.novo.dk.