Conventus’ three-dimensional fracture management platform technology allows surgeons to achieve reliable 3-D fixation in a less invasive manner for various periarticular fractures throughout the body. Company leaders said plan to use the funding to support the commercial launch of the Conventus Cage, a U.S. Food and Drug Administration-cleared treatment for proximal humerus (PH), distal radius (DR), and proximal radius (PR) fracture repair. The Conventus Cage’s less invasive surgical technique and versatility enable secure fixation and stable 3-D fracture repair where existing techniques have been shown to have limitations, officials noted in a news release. The funding will also support research and development for new indications such as lower extremity conditions.
“The fact that 100 percent of this equity funding came from current Conventus investors serves as validation that the Conventus Cage technology has the potential to alter fracture treatment worldwide. I greatly appreciate the continued support of our strong investor syndicate,” CEO Paul Buckman said.
“The clinical experience with the Conventus Cage PH and the Conventus Cage DR is demonstrating significant benefits to the patient, as well as generating a lot of excitement amongst surgeons,” added Avi Kometz, M.D., a partner at Deerfield Management. “The company is making rapid progress and we are excited to support the company in the commercialization of the PH and DR systems, as well as in the extension of this platform to other indications.”
Founded in 2008 by a team of medical device professionals and physicians, Conventus Orthopaedics develops 3-D, less invasive solutions to fractures in and around the joints. The company is based in Maple Grove, Minn.