Catalyst OrthoScience Inc. (Catalyst), a medical device company focused on the upper extremity orthopedics market, has raised $12.7 million in an oversubscribed Series C-1 financing round led by River Cities Capital Funds (River Cities).
“This funding will be instrumental in fueling rapid growth for Catalyst through increased inventory, expanded distribution and new product development,” said Brian K. Hutchison, Catalyst chairman and CEO. “The additional funding will allow us to enhance company infrastructure and hire additional talent to support our growth and to bring our novel approach to total shoulder arthroplasty to surgeons and their patients.”
“We are excited to partner with Catalyst to fuel the growth of the company and advance minimally invasive surgery in shoulder arthroplasty,” said Carter McNabb, managing director at River Cities, who will join Catalyst’s board of directors.
Designed by surgeons for surgeons, the Catalyst CSR™ Total Shoulder System is a disruptive technology that represents the next evolution in shoulder surgery. The simple surgical technique creates a unique, multiplanar chamfer cut on the humeral head that minimizes bone removal and preserves the strongest, densest bone for the humeral component fixation – similar to modern knee replacement. Patented, angled glenoid instruments aid in the glenoid exposure and lessen retraction on the soft tissue. The precision of the system’s implants and instrumentation yields highly accurate and repeatable restoration of the native non-spherical anatomy. These benefits position the Catalyst CSR system as an attractive solution for anatomic total shoulder replacement surgery.
Today, the Catalyst CSR system has been used in more than 1,000 surgeries. The first patients are more than two years post surgery with excellent clinical results. The system has seen rapid adoption and is supported by a team of top key opinion leaders in the shoulder replacement market.
England Securities LLC acted as financial advisor and Dentons US LLP acted as legal advisor for Catalyst in the transaction.