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Life Sciences, NEA lead $27.2m Series B for shoulder disease specialist

3 Jul 2014

torsoNew investor Life Sciences Partners and existing backer New Enterprise Associates have co-led an oversubscribed financing round for medical device company Rotation Medica.

Previous investor Pappas Ventures was among investors re-upping in the Series B round.

Pappas’ Scott Weiner and Life Sciences general partner Fouad Azzam will join Rotation Medica on the board of directors as part of the deal.

Rotation said it will use the cash to develop new technologies to treat rotator cuff disease which is caused by an injury or inflammation of the shoulder muscles. It also aims to support the commercial launch and post-market clinical studies of the Rotation Medical rotator cuff system.

Azzam said, “Rotation Medical’s technology has the potential to significantly advance current approaches to the treatment of rotator cuff disease – an area for which there is clearly an unmet clinical need.”

“In an environment that increasingly puts a premium on health care efficiency and effectiveness, we think Rotation Medical’s technology and team are particularly well positioned to succeed.”

The Rotation Medical uses an implant designed to induce new tissue growth which can result in increased tendon thickness and healing of tendon defects.

Earlier this week NEA announced leading a $33m series B funding round for big data company Databricks.

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