Michael Barbella, Managing Editor02.03.23
Toetal Solutions Inc. is $1.8 million richer these days, having closed a financing round from Runway Healthcare LP, with participation from Runway Healthcare investors. The company plans to use the proceeds to finalize product development and obtain regulatory clearance for its flagship product, the Ziptoe Hammertoe System.
"This financing should enable our team to finalize the development of the Ziptoe Hammertoe System and achieve FDA approval, fundamentally changing how surgeons address forefoot deformities. We aim to improve patient outcomes while making the surgeons' lives easier," Co-Founder and Chief Technology Officer William Rhoda said.
The Ziptoe Hammertoe System enables foot and ankle surgeons to address rigid hammertoe deformities with a simple, easy-to-use implant. "The system has been thoughtfully designed with surgeon input to address the common pitfalls of the devices available to surgeons today. The Ziptoe implant is easy to use and provides an incredibly stable fusion from the moment it is deployed. Additionally, it enables surgeons to address the MTPJ if necessary, addressing the Toetal Pathology with a Toetal Solution," stated Nick Romansky, DPM. The Ziptoe system includes a proprietary deployable nitinol implant that comes sterile packed with all necessary disposable instrumentation to perform the procedure in any surgical setting.
Toetal Solutions is Runway Healthcare's second portfolio company. The medical device accelerator combines capital and direct management to bring commercially ready opportunities to the medical device industry following regulatory approval. Runway Healthcare will seek to transition Toetal Solutions' ownership to a larger multi-national healthcare company for commercialization.
Toetal Solutions was founded in 2021 to create clinically effective solutions for foot and ankle deformities. The Ziptoe Hammertoe System features a sterile packed procedure kit and implant to address ridged hammertoe deformity.
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 companies.
"This financing should enable our team to finalize the development of the Ziptoe Hammertoe System and achieve FDA approval, fundamentally changing how surgeons address forefoot deformities. We aim to improve patient outcomes while making the surgeons' lives easier," Co-Founder and Chief Technology Officer William Rhoda said.
The Ziptoe Hammertoe System enables foot and ankle surgeons to address rigid hammertoe deformities with a simple, easy-to-use implant. "The system has been thoughtfully designed with surgeon input to address the common pitfalls of the devices available to surgeons today. The Ziptoe implant is easy to use and provides an incredibly stable fusion from the moment it is deployed. Additionally, it enables surgeons to address the MTPJ if necessary, addressing the Toetal Pathology with a Toetal Solution," stated Nick Romansky, DPM. The Ziptoe system includes a proprietary deployable nitinol implant that comes sterile packed with all necessary disposable instrumentation to perform the procedure in any surgical setting.
Toetal Solutions is Runway Healthcare's second portfolio company. The medical device accelerator combines capital and direct management to bring commercially ready opportunities to the medical device industry following regulatory approval. Runway Healthcare will seek to transition Toetal Solutions' ownership to a larger multi-national healthcare company for commercialization.
Toetal Solutions was founded in 2021 to create clinically effective solutions for foot and ankle deformities. The Ziptoe Hammertoe System features a sterile packed procedure kit and implant to address ridged hammertoe deformity.
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 companies.