Durham’s Restor3d, which is making 3D-printed orthopedic implants, has raised $55 million from investors to fuel its growth.
The investment round was led by Summers Value Partners. Restor3d also completed $15 million in debt financing led by Trinity Capital.
The company said it plans to use the proceeds to introduce new patient-specific implant systems for total ankle and shoulder replacements and to upgrade its printing technology. It also plans to add new software and design automation systems.
It also plans to use some of the money to educate surgeons.
“With this capital, we can accelerate our efforts to transform orthopedic care through 3D-printed personalized implants,” said CEO Kurt Jacobus in a statement. “We are eager to maximize our impact on patient outcomes and continue to advance orthopedic care.”
Restor3d, which was spun out of Duke University in 2017, received U.S. Food and Drug Administration approval in April 2023 for an ankle replacement. The company has multiple FDA product clearances that span lower extremity, upper extremity, spine, and trauma.
In 2021, Restor3d announced it had merged with Kinos Medical, a total ankle replacement company. Last year, it acquired Massachusetts-based Conformis, which specializes in joint replacements.
Back in April 2023, it raised $12 million in a convertible debt offering. And in April 2022, it raised $23 million in a stock offering. That money was used for new product development, research and clinical studies and software.
The company moved into a new facility in the Research Triangle Park earlier this year.
Summers Value Partners is based in Denver and is a boutique alternative asset manager
