Medtech
Morrisville startup focusing on osteoarthritis with Duke technology raises new funding
A startup developing a device for the treatment of osteoarthritis with technology from Duke University has raised a new round of funding.
The post Morrisville…
MORRISVLLE – A startup developing a device for the treatment of osteoarthritis with technology from Duke University has raised a new round of funding. Sparta Biomedical says the round was “heavily oversubscribed” but did not disclose the amount.
Sparta did raise $5 million in 2021.
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“The secured capital will accelerate Sparta’s preparations for the Investigational Device Exemption study preparations of its breakthrough device, Ormi.,” Sparta said in the announcement. However, the device has yet to secure FDA approval.
“This capital infusion is a strong testament to Sparta’s trajectory since our last financing in 2021,” said Dimitrios Angelis, co-founder and president of Sparta Biomedical, in a statement. “This accomplishment underscores the hard work and expertise of clinical and regulatory advisors, and manufacturing and lab partners. We consider ourselves fortunate to have them as partners and look forward to continuing this journey together.”
The post Morrisville startup focusing on osteoarthritis with Duke technology raises new funding first appeared on WRAL TechWire.
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