CyMedica Orthopedics closed an extension to its Series A financing round.
Here are five takeaways:
1. The company earned $11.5 million in this financing round.
2. The round was led by investors Research Corporation Technologies and California Technology Ventures.
3. The funds will be used to expand sales and distribution and further support the continued rollout of the company's QB1 system.
4. The CyMedica QB1 system is intended for the treatment of quadriceps muscle atrophy.
5. In April, the system received 510(k) clearance and it was launched at the Arthroscopy Association of North American Arthroscopic Society for Sports Medicine annual meeting in Los Angeles.