by WRAL TechWire — May 28, 2021 .
The 3D printed implant company restor3d, based in Durham, announced a merger with Kinos Medical earlier this month, and has also now raised $13 million in equity funding from 101 investors, according to an SEC filing.
The merger with the Wayne, Pa.-based Kinos Medical, was completed so the company could accelerate expansion into the ankle and foot market in the United States, which it noted is a high-growth area.
“My belief is that surgical reconstructions of the future will be performed with implants that are tuned to the anatomy, biomechanics, and tissue biology of individual patients and explicitly designed and improved based on data sets of pre- and post- operative clinical data,” said Ken Gall, Ph.D., a co-founder of restor3d and a professor at Duke University. “The combination of these two thriving businesses is an exciting step towards this future.”
The company’s technology enables surgeons to reconstruct and repair portions of the human body using 3D printed implants that the company describes as patient-specific. The technology, according to the restor3d website, unites 3D printing, biomaterials, biomechanics, and artificial intelligence.
Kinos develops and incorporates “new technologies into our implant & instrument systems. Together we are bringing Ankle Replacement into the 21st century.”
According to the SEC filing, the date of first sale was May 12, 2021, the round included 101 investors, and proceeds will be used for working capital. CEO Andrew Miller signed the SEC filing, but could not be reached for comment by WRAL TechWire.
The company was formerly known as Additive Device, and raised $4,385,000 in equity funding in February 2020. The company announced a licensing and development deal in September 2019 with California-based SeaSpine Holdings Company.
Original Source: WRAL TechWire