Georgia-based medical device startup Carticept raises $20M
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ALPHARETTA, Ga. – A startup focused on developing treatments for cartilage and osteoarthritis has closed on $20 million in new venture funding.
Carticept attracted a new investor, SonoSite, as well as repeat investors New Enterprise Associates and Domain Associates.
The funds will be used to launch Navigator Delivery System, a computer-controlled fluid delivery system for automation of medication delivery.
Carticept also plans to continue enrollment of patients in a clinical trial for its Cartiva product, which is a synthetic cartilage implant.
The company had raised $25.5 million in earlier rounds, according to PE Hub.
“This additional funding provides further validation of Carticept’s leadership in the development of innovative treatments for patients with osteoarthritis or cartilage damage,” said Timothy Patrick, Carticept’s chief executive officer.
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