|
|
|
January 7, 2009
OrthAlign Announces $7.2 Million
Series A Financing Round
OrthAlign, Inc., a privately held
medical device company in Orange County, CA, secured a
$7.2 million Series A financing round led by Research
Corporation Technologies (“RCT”) and Okapi Venture
Capital, LLC. (“Okapi”). Additional participants include
the company’s seed investors, D. Ronald Yagoda, and Ned
Scheetz, along with CEO Pieter Wolters, and a group of
accredited private individuals.
Christopher P. Martin, Senior
Vice-President and CFO of RCT and Sharon Stevenson, DVM,
PhD, Co-Founder and Managing Director at Okapi, have
joined Ron Yagoda, Ned Scheetz and Pieter Wolters on
OrthAlign’s Board of Directors.
“This round of financing provides us
with the capital to finish developing our first line of
products and bring them to market,” said Pieter Wolters,
OrthAlign’s President and CEO. ”Initial prototypes have
been received favorably by leading orthopedic surgeons.
The company will have a booth at the American Academy of
Orthopedic Surgeons in Las Vegas, NV, from February 25
through 28, 2009. We expect to have our first products
available for clinical use in total knee replacement
procedures in the second half of 2009”.
About OrthAlign, Inc.:
OrthAlign is developing a line of
computer-assisted surgical devices that are affordable,
hassle-free and easy to use. Through technology that
provides the critical features and benefits of large
surgical navigation systems in a disposable, palm-sized
device, OrthAlign’s goal is to create a new standard of
care in total joint replacement. For more information,
visit
www.orthalign.com.
About Research Corporation
Technologies, Inc.:
Research Corporation Technologies in
Tucson, AZ., is a technology investment and management
company that provides early-stage funding and
development for promising biomedical companies and
technologies. RCT focuses on technology investments with
origins from universities and research institutions
worldwide. RCT has assets of more than $300 million to
advance technology development through venture
investment, partnerships and special licensing programs.
The RCT BioVentures program provides venture capital to
companies whose technologies have the potential to
become significant biomedical products. For more
information, visit
www.rctech.com.
About Okapi Venture Capital, LLC:
Founded in 2006, Okapi Venture Capital
is a seed and early stage venture capital fund
headquartered in Laguna Beach, CA. Okapi, with
approximately $30 million dollars under management in
its current fund, Okapi Ventures I, is focused on seed
and early stage life sciences and information technology
opportunities in Southern California. For more
information, visit
www.okapivc.com.
|