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Friday, May 24, 2024

Durham-based Restor3d raises $17 million

Durham-based Restor3d, a medical device company, has raised $17 million from investors, according to a Form D filed Tuesday with the Securities and Exchange Commission.

The money came from 98 investors, according to the filing.

The company specializes in the reconstruction and repair of the human body through 3D printed orthopedic medical devices, machine learning and artificial intelligence. Back in April, 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.

Restor3D, which was spun out of Duke University in 2017, received U.S. Food and Drug Administration approval in April 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 week, it closed on its acquisition of Massachusetts-based Conformis, which specializes in joint replacements.

Kurt Jacobus is the CEO of Restor3D, which was founded in 2017. He holds a master’s and doctorate in mechanical engineering from the University of Illinois.

Chris Roush
Chris Roush
Chris Roush is executive editor of Business North Carolina. He can be reached at croush@businessnc.com.

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