Inovedis, a medical startup headquartered in Germany, specializing in pioneering solutions to enhance patient care and streamline surgical procedures, has revealed the successful closure of its Series A funding round, amounting to €3.78 million.
The funding round witnessed the active participation of Inovedis’ original seed round investors, which includes High-Tech Gründerfonds, MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg, Volksbank Albstadt ChancenKapital, Start-UP BW Innovation Fonds, as well as angel investors. Additionally, Renolit SE, the present manufacturer of the SINEFIX implant, made an initial investment.
Inovedis has earmarked the funds to facilitate the commercial launch of the SINEFIX implant system in the United States. Furthermore, the startup intends to utilize the capital to sponsor a clinical study in Germany aimed at generating the requisite data to support CE marking and facilitate the expansion of sales across Europe.
Founded in 2019 by trauma and orthopaedic surgeon Dr. Stefan Welte and entrepreneur Lukas Floess, Inovedis, headquartered in Albstadt, Germany, is dedicated to offering innovative medical solutions aimed at enhancing patient care while concurrently streamlining time and cost factors within the healthcare sector.
Inovedis identified its unique focus within the medical domain when challenges arose in treating rotator cuff lesions (RCL) via arthroscopic methods relying on suture anchor technology.
Their flagship product, SINEFIX, seeks to optimize surgical efficiency, enhance the inherent healing capabilities of patients, and respect individual biological conditions by establishing a flat and uniform contact between tendon and bone.
Currently, SINEFIX awaits FDA approval in the United States. Concurrently, the European approval trial for SINEFIX has commenced, under the guidance of Prof. Dr. Philip Kasten, an expert in orthopaedics and trauma surgery at the Orthopaedic Surgery Center (OCC) in Tuebingen, Germany.
Understanding the Mechanism of SINEFIX
The SINEFIX implant system operates through a streamlined surgical approach that enables the reattachment of the rotator cuff tendon to the bone, utilizing minimally invasive techniques.
This innovative surgical technique significantly simplifies the procedure by reducing the need for an extensive array of instruments, eliminating the complexity associated with suture management and knot tying, thus saving valuable time.
Dr. Kasten emphasizes, “Around 70 percent of patients exhibit partial thickness rotator cuff tears, whereas only 28 percent have full thickness tears. SINEFIX presents an effective treatment solution tailored to small and partial thickness tears.”
Distinguishing itself from existing treatment options, SINEFIX eliminates the necessity for complete tendon detachment before reattachment, addressing a critical gap in rotator cuff patient care.
Dr. Welte notes, “The SINEFIX surgical technique not only reduces procedure duration but also enhances tendon-to-bone fixation due to its superior pull-out forces compared to double-row fixation with suture anchors. This adaptability to porous bones streamlines the process, mitigates surgical error risks, significantly shortens surgical time, and ultimately contributes to cost and time savings in clinical surgeries.”