Valeris raises $450k, looks to $3m in new equity round

Early-stage orthopedic company Valeris Medical has raised $450,000 in a new round of equity financing, aiming to raise an additional $2.6 million before closing the round, according to an SEC filing posted this week.

Money in the equity and option round came from 3 unnamed sources, with a minimum investment of $25,000 required in the round.

The company has not yet stated how it plans to spend funds raised in the round, or how long the round will stay open. The 1st sale in the round was made on Jan. 27, according to the SEC filing.

Valeris “partners with strategic surgeon experts to innovate and deliver the next level of orthopedic implants and delivery systems to better serve the medical industry and the millions of patients treated annually,” according to med device distributor Affirmative Solutions’ website.

Among the company’s products are the BoneCam Suture Anchors, which won FDA 510(k) clearance in August 2015, according to an FDA filing. The device is intended to be used for suture fixation to bone in the foot, ankle, knee, hand, wrist, elbow, shoulder and hip.

The company raised $1.5 million last Sept. in a round of debt financing.

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