Duke startup raises more than $4 million for 3D printing
A Triangle med-tech company developing 3D printing capabilities for implants has put together a $4.3 million fundraising round.
Restor3D – a Duke spin-out company that designs and manufactures biomedical implants using its 3D printing technology platform, has filed notice of its recent fundraising round with the U.S. Securities and Exchange Commission (SEC).
According to the company’s filing, the round offered $4.395 million in equity, and closed with $4.385 million sold, leaving $10,000 on the table as of the filing.
The round began on Jan. 13 and, according to the filing, a total of 48 investors participated.
Restor3D was launched in part by Dr. Ken Gall, a Duke University professor in the Department of Mechanical Engineering and Materials Science.
The $4.3 million is by far the largest fundraising reported by the company since its inception. It has reporting new funding just twice to the SEC – once in 2017 when it reported a $650,000 equity offering and $385,000 in 2018.
The company is centered in part around Gall’s research work and printing technology, allowing for 3D printing of implants out of polymers and metals.
Its technology has attracted attention before.
In September last year, the company announced an exclusive development and licensing agreement with SeaSpine Holdings Corporation – a global medical technology company focused on surgical solutions for the treatment of spinal disorders.
At the time, SeaSpine said it planned to commercialize its first 3D-printed interbody devices developed under the agreement in the second half of this year.
In addition to Gall, who serves as a director of the company, Restor3D is run by co-founder and CEO Andrew Miller, an adjunct professor at Duke.
Miller declined to comment on what the company was planning to do with the additional capital.