CHARLOTTE, N.C. (PRWEB) NOVEMBER 15, 2017
Diamond Orthopedic, LLC, a medical device company that offers a revolutionary fixation technology to achieve better patient outcomes at a lower total cost, announced today it has successfully closed its $3.5 million seed round of equity funding. The capital raise, led by MagnaSci Fund L.P., is the Company’s first equity offering since its inception on March 1, 2017.
Diamond’s signature technology is a faceted threadform that has been deployed in an FDA cleared faceted bone screw. As evidenced by significant bench testing, the new threadform design demonstrates superior performance as compared to conventional helical threadforms.
With its initial capital raise complete, experienced management team, seasoned advisory board, and patented new technology, Diamond Orthopedic is positioned for success in the nearly $50 billion orthopedic market. Diamond Orthopedic has exclusive rights to market and sell over 2,500 FDA cleared SKUs of cortical, cancellous, headless compression, and external fixation screws.
“We are excited about the ability to launch our faceted bone screw technology with this round of capital investment,” says Board Chairman Charlie Federico. “With the market encouragement we’ve received thus far, we look forward to providing surgeons and patients with this superior technology.”
Diamond’s patented faceted threadform is designed to reduce friction and compressive stress at the bone-screw interface. Lower compressive stress and the reduced insertion torque required to drive the screw and/or threaded pins into bone reduces the potential for microfractures. When paired with the viscoelastic properties of bone, the faceted threadform demonstrates superior fixation as compared to conventional helical threadforms. Many promising applications of the faceted threadform exist within the orthopedic market, especially in cases where compromised bone is a factor.
“Faceted bone screws offer superior fixation performance in both healthy and compromised bone,” says CEO Roy Bivens. “We are very excited about the possibilities for this technology in a multitude of applications, from specific procedures where superior fixation is paramount, such as triple arthrodesis, to the full spectrum of applications ranging from healthy-boned athletes to compromised bone, such as osteoporotic and osteopenic bone.”
He adds “our faceted technology has the potential to change numerous paradigms within orthopedics, including uni-cortical fixation possibilities.”
About Diamond Orthopedic
Diamond Orthopedic, LLC, headquartered in Charlotte, NC, is a medical device company that offers a revolutionary fixation technology to achieve better patient outcomes at a lower total cost. Diamond Orthopedic is the exclusive provider of faceted threadform technology for orthopedic applications worldwide. With proven superiority over traditional helical threadforms, Diamond Orthopedic is the new fixation standard in orthopedics.
Media Contact:
Guillaume Viallaneix
MedTech Momentum
Phone: 407-960-2994
Email: guillaume(at)medtechmomentum(dot)com
Diamond Orthopedic Contact:
1600 Camden Road
Charlotte, NC, 28203
Phone: 704-585-8270
Email: info(at)diamondortho(dot)com
Safe Harbor Statements
All statements included in this press release other than statements of historical fact are forward-looking statements and may be identified by their use of words such as “believe,” “may,” “might,” “could,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan” and other similar terms. These forward-looking statements are based on our current assumptions, expectations and estimates of future events and trends. Forward-looking statements are only predictions and are subject to many risks, uncertainties and other factors that may affect our businesses and operations and could cause actual results to differ materially from those predicted. These risk factors contain certain forward-looking statements that involve risks and uncertainties. These statements relate to the Company’s future plans, objectives, expectations and intentions. The Company’s actual results could differ materially from those discussed in these statements. It is difficult to accurately predict the impact of each of these risks on the Company due to the dependence on many factors outside the Company’s control. These risks and uncertainties include, but are not limited to, factors affecting our financial results, our ability to manage our growth, our ability to sustain our profitability, demand for our products, our ability to compete successfully (including without limitation our ability to convince surgeons to use our products and our ability to attract and retain sales and other personnel), our ability to rapidly develop and introduce new products, our ability to develop and execute on successful business strategies, our ability to comply with laws and regulations that are or may become applicable to our businesses, our ability to safeguard our intellectual property, our success in defending legal proceedings brought against us, trends in the medical device industry, general economic conditions, and other risks. It is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements as a result of new information, events or circumstances or other factors arising or coming to our attention after the date hereof.
