Sparta Biomedical is a Morrisville, NC–based medical technology and biotech company focused on improving motion, reducing pain, and increasing patients' quality of life. Its lead product, Ormi, is designed to treat knee osteoarthritis and is described as mimicking the properties of healthy human cartilage right from day one. Ormi is not FDA approved, not commercially available, and remains in development; approvals and clearances are subject to testing, results, and the FDA review process. The company recently closed a convertible funding round of undisclosed size with participation from angel investors and previous backers. Proceeds are intended to accelerate preparations for an Investigational Device Exemption (IDE) study for Ormi. Leadership cited in the report includes President Dimitrios Angelis, CTO Ben Wiley, and VP and Engineering Head Demetri Siachames. Sparta Biomedical is a Durham, NC–based medical device company developing the SBM-01 Biomimetic Implant, a minimally invasive treatment for chondral and osteochondral defects of the knee cartilage. The implant mimics native cartilage properties, provides a smooth articulating surface, supports surrounding cartilage, and stabilizes subchondral bone to limit disease progression. The company was co-founded by CEO Dushyanth Surakanti and COO Dimitrios Angelis and is led technically by Dr. Benjamin Wiley, CTO. Sparta has assembled a team of clinical advisers including Adam B. Yanke, MD, PhD; Brian R. Waterman, MD; Seth L. Sherman, MD; Kristofer J. Jones, MD; and LTC Jonathan F. Dickens, MD. It recently raised $5M in seed funding to complete preclinical activities in support of an IDE submission. The financing coincided with the appointment of Ken Gall, PhD to the board.

Total raised

$5M

Funding rounds

2

Latest round

Seed

Latest activity

Dec 2021