Ceterix Orthopaedics inks a $35 million term loan for its NovoStitch suture passing device designed to help surgeons repair soft tissue damage in joints.
Ceterix Orthopaedics said last week that it took out a $35 million term loan with CRG it plans to use to advance its NovoStitch suture passing device for surgeries to repair torn menisces in the knee.
Menlo Park, Calif.-based Ceterix said the NovoStitch device is designed to help surgeons place sutures in patterns that used to require open procedures or weren't possible at all.
from MassDevice - FDA and Medical device business news and jobs for the medical device industry http://ift.tt/1GZ9XzZ
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