ZipLine Medical, Inc. says it has completed a growth financing round totaling $9 million. The news coincides with the company winning a Medical Design Excellence Award for its a ZipStitch laceration closure device.
Proceeds from the newly announced financing will be used to continue worldwide commercialization activities for its Zip® Surgical Skin Closure products, and support the launches of ZipStitch™, an over-the-counter laceration closure device, and PreLoc® Wound Closure for chronic wounds, such as diabetic foot ulcers. The financing was led by existing investor MVM Life Science Partners LLP, with participation from existing investors HighCape Partners and Bridge Bank.
The ZipStitch™ over-the-counter laceration closure device was awarded the Medical Design Excellence Award in the Over-the-Counter and Self-Care Products category on June 12, 2018 in New York. This competition is judged by a panel of clinicians, engineers and designers and is based on a product’s innovation, as well as benefits to overall healthcare.
“This financing provides ZipLine Medical with additional capital to continue our strong revenue growth in the U.S. and internationally. We are excited about the strong market acceptance of our Zip Surgical Skin Closure devices in many surgical specialties, including orthopedics, cardiovascular, and the emergency department,” said John Tighe, President and Chief Executive Officer for ZipLine Medical.
Source: ZipLine Medical, Inc.