Germany-based Inovedis, a medical startup that provides innovative solutions to optimise patient care and minimise the complexity of surgical intervention, announced that it closed a Series A round of funding at €3.78M.
The funding round was participated by Inovedis’ entire initial seed round investors, including High-Tech Gründerfonds, MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg, Volksbank Albstadt ChancenKapital, Start-UP BW Innovation Fonds, and angel investors, and an initial investment by Renolit SE, the current manufacturer of the SINEFIX implant.
Inovedis says it will use the funding to support the commercial launch of the SINEFIX implant system in the United States. The start-up will also use the fund to sponsor a clinical study in Germany to create data necessary to support CE marking and sales expansion into Europe.
Trauma and orthopaedic surgeon Dr Stefan Welte and entrepreneur Lukas Floess founded Inovedis in 2019. Based in Albstadt, Germany, Inovedis aims to provide medical solutions to create optimised patient care and reduce time and cost in the healthcare sector.
Inovedis discovered its niche when the medical sector faced difficulty in treating rotator cuff lesions (RCL) with arthroscopic treatment that relies on suture anchor technology.
Their flagship product, SINEFIX, aims to increase surgery efficiency, improve the patient’s intrinsic healing potential, and respect the patient’s biological condition by creating flat and even contact of tendon and bone.
At the moment, SINEFIX is awaiting FDA approval in the US. At the same time, the European approval trial for SINEFIX is starting under the leadership of Prof Dr Philip Kasten, a specialist in orthopaedics and trauma surgery at the Orthopaedic Surgery Center (OCC) in Tuebingen, Germany.
How does SINEFIX work
SINEFIX implant system works by allowing refixation of the rotator cuff tendon to the bone with a simplified surgical technique that involves minimally invasive surgery.
The new surgery technique involves an extensive range of instruments, leading to minimal instrumentation and removal of time-consuming complex suture management and knot tying.
“Approximately 70 per cent of all patients have a partial thickness rotator cuff tear, while only 28 per cent have a full thickness tear. SINEFIX offers an effective treatment solution for small and partial thickness tears,” says Dr Kasten.
“In contrast to current treatment options, there is no need to detach the tendon completely prior to reattachment and fills an important gap in treating rotator cuff patients,” he adds.
“The SINEFIX surgical technique will shorten the procedure time and potentially improve the tendon-to-bone fixation while using less implants,” says Dr Welte.
“This is due to the higher pull-out forces than double row fixation with suture anchors allowing the implant to be used in porous bones. This simplified technique is designed to reduce the risk of complications due to surgical errors and significantly shortens surgery time, contributing to time and cost savings in clinical surgeries,” he adds.