Thursday February 4, 2016 0 comments
LOUISVILLE -- JustRight Surgical LLC, a mini-laparoscopic medical device company, announced it closed on $4.2 million in Series B funding with an additional $7 million in debt financing commensurate with the Series B financing.
The company said the capital will be used to continue to advance sales, marketing, and other commercialization efforts for the company''s core 3mm JustRight Sealer and its JustRight 5mm Stapler in both U.S. and European markets. JustRight said its devices are five to nine times smaller than previously available.
"The team at JustRight Surgical is inspired by the confidence our investors continue to show in our mission to bring right-sized instruments and technology to hospitals and surgeons around the world," said Russ Lindemann, company president and CEO. "The instruments and technology that we have developed are allowing surgeons to operate in very small spaces with the precision and safety that can change the treatment path for patients."
JustRight said demand from surgeons for its instruments has been robust. They are currently in use for general and thoracic procedures in 20 of the top children''s hospitals in the U.S., including six of the top 10. JustRight said it is the only company in the world to have figured out how to design and develop a 5mm stapler using the classic titanium wire staple in a clinically accepted "B" shape, and the only company that offers a true 5mm device that does not require a special port for its use.
Founded in 2010, JustRight Surgical said its devices were developed under the guidance of domestic and international surgeons and a team of medical device professionals with extensive patent portfolios and a record of developing breakthrough technologies that have transformed surgical procedures.