Michael Barbella, Managing Editor05.27.22
Toetal Solutions Inc's first funding round has garnered the startup firm $1.02 million.
The financing came from Runway Healthcare LP, a medical device accelerator. Toetal Solutions plans to use the money to rapidly scale development of its flagship product, the Ziptoe Hammertoe System. Ziptoe is designed to address rigid hammertoe deformities with a simple, easy-to-use implant. The Ziptoe system features a proprietary deployable nitinol implant that comes sterile packed with all necessary disposable instrumentation to perform the procedure in any surgical setting.
"We've designed a product with physician input throughout every step of development. Our market research made it clear that the current product offerings for hammertoe fusion lacked efficacy or were too cumbersome to implant easily. Ziptoe's design meets the core tenants of proper bone fusion: Active Compression, Complete Stability, and Zero Rotation. We are excited to enter this next phase of product development and get this simple and easy-to-use product in the hands of foot and ankle surgeons," said Jeff O'Donnell Jr., CEO, and co-founder of Toetal Solutions.
Dr. Steven S. Soondar, D.P.M., stated, "The Ziptoe is needed to allow foot and ankle surgeons a reproducible means to correct hammertoe deformities, creating compression across the fusion site while also allowing for easy revision if necessary."
Runway Healthcare solely funded this financing and has a majority ownership position in the company. Toetal Solutions is Runway Healthcare's second portfolio company.
Toetal Solutions was founded in 2021 to create easy-to-use and clinically effective solutions in foot and ankle deformities.
Runway Healthcare is an early-stage medtech accelerator focused on early-stage technology in the orthopedic, cardiovascular, and neurology sectors. Runway finances and manages the product development process of its portfolio firms. Upon navigating a portfolio company through the regulatory process, Runway Healthcare will seek to transition the organization's ownership to larger multi-national healthcare entities for commercialization.
The financing came from Runway Healthcare LP, a medical device accelerator. Toetal Solutions plans to use the money to rapidly scale development of its flagship product, the Ziptoe Hammertoe System. Ziptoe is designed to address rigid hammertoe deformities with a simple, easy-to-use implant. The Ziptoe system features a proprietary deployable nitinol implant that comes sterile packed with all necessary disposable instrumentation to perform the procedure in any surgical setting.
"We've designed a product with physician input throughout every step of development. Our market research made it clear that the current product offerings for hammertoe fusion lacked efficacy or were too cumbersome to implant easily. Ziptoe's design meets the core tenants of proper bone fusion: Active Compression, Complete Stability, and Zero Rotation. We are excited to enter this next phase of product development and get this simple and easy-to-use product in the hands of foot and ankle surgeons," said Jeff O'Donnell Jr., CEO, and co-founder of Toetal Solutions.
Dr. Steven S. Soondar, D.P.M., stated, "The Ziptoe is needed to allow foot and ankle surgeons a reproducible means to correct hammertoe deformities, creating compression across the fusion site while also allowing for easy revision if necessary."
Runway Healthcare solely funded this financing and has a majority ownership position in the company. Toetal Solutions is Runway Healthcare's second portfolio company.
Toetal Solutions was founded in 2021 to create easy-to-use and clinically effective solutions in foot and ankle deformities.
Runway Healthcare is an early-stage medtech accelerator focused on early-stage technology in the orthopedic, cardiovascular, and neurology sectors. Runway finances and manages the product development process of its portfolio firms. Upon navigating a portfolio company through the regulatory process, Runway Healthcare will seek to transition the organization's ownership to larger multi-national healthcare entities for commercialization.