OrthoSpace Ltd. has completed a financing transaction led by New York, N.Y.-based HealthpointCapital LLC, which also includes existing investors Smith & Nephew plc and TriVentures. The proceeds from the transaction will facilitate the company's continued market adoption, clinical study programs and entry into the emerging markets. The company's flagship product, InSpace, is designed for the treatment of severe rotator cuff tears.
The terms of the transaction were not disclosed.
"With five years of clinical experience and over 5,000 procedures completed, we have developed a loyal following among surgeons in Europe and Israel. We look forward to expanding our footprint into new markets," said Assaf Dekel, M.D., OrthoSpace's co-founder and medical director.
OrthoSpace is located in Caesarea, Israel.