Carticept Medical develops the Navigator Delivery System (DS), a computer-controlled drug delivery system that integrates ultrasound guidance to improve accuracy, safety and efficiency of joint injections. The Navigator DS automates dose preparation and delivery, eliminates needle exposure to healthcare workers, reduces contamination risk, and records treatment data for transfer to electronic records. The device received FDA 510(k) clearance in September 2011 and the company planned a full commercial launch in Q1 2012. The financing announced will fund the commercial launch at leading orthopedic and sports medicine centers. Carticept's product targets a large market given the prevalence of arthritis and the documented improvement in injection accuracy when imaging is used. The company was founded to address cartilage injuries and osteoarthritis with innovative medical device solutions. Carticept Medical is an Alpharetta, Ga.-based developer of innovative products for the treatment of cartilage injuries and osteoarthritis. Its core product efforts include the Navigator Delivery System, an integrated, computer-controlled fluid delivery system designed to automate medication delivery, and the Cartiva Synthetic Cartilage Implant, which is in clinical study. The company completed a $20M Series B financing. New investor SonoSite joined existing investors Domain Associates and New Enterprise Associates in the round. Proceeds are intended to fund the expected commercial launch of the Navigator Delivery System and to complete patient enrollment in the clinical study of the Cartiva Synthetic Cartilage Implant.

Total raised

$30M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2012