Artelon, Inc. Secures $20M in Funding to Advance Surgical Treatment of Joint Instability
Summary
Artelon, Inc. Secures $20M in Funding to Advance Surgical Treatment of Joint InstabilityNew financing led by Vensana Capital to support commercial expansion and launch of new surgical solutions for joint instabilityMARIETTA, Ga., May 24, 2023-- Artelon Inc., a privately held medical device company, announced today that it closed approximately $20 million in Series B funding, led by Vensana Capital with expected additional participation from existing investors. "Ankle sprains are the number one reason for emergency room visits in the United States, and up to 20 percent of those patients will develop chronic instability after these injuries. "Following on the commercial success of our current Flexband\xae SOLO and Flexband MULTI products, this funding will allow us to take on adjacent clinical indications and pursue leadership within the $2B U.S. ankle instability market, while expanding our efforts to address latent customer needs in other unstable joints." "Artelon is focused on bringing value to patients and healthcare providers through a platform that enhances soft tissue repair while restoring stability and motion," said Greg Banker of Vensana Capital. It has been proven in clinical studies to protect the surgical repair during early healing, quickly restore the mechanics of motion, and support development of regenerating tissue before dissolving over five to six years.