CAMPBELL, Calif.--(BUSINESS WIRE)--ZipLine Medical, Inc. today announced it completed a $12 million Series E round of financing. Proceeds from the financing will be used to continue worldwide commercialization activities for its Zip® Surgical Skin Closure products, as well as development of advanced tools to reduce post-discharge costs in a bundled care environment. The financing was led by new investor, HighCape Partners, a growth equity fund based in New York which invests broadly across the healthcare sector. The financing includes participation from existing investor MVM Life Science Partners LLP.
“ZipLine Medical has introduced a revolution in surgery – advanced wound closure that addresses inherent limitations with traditional, antiquated methods. The ZipLine team is developing and marketing disruptive products that minimize risk, improve clinical outcomes and address the constant pursuit of cost-effective healthcare,” said Dean Tozer, Operating Partner of HighCape Partners.
As part of the financing, Tozer has joined the ZipLine Medical Board of Directors.
“We are excited to help propel the company to the next level of growth and commercial success,” added Matt Zuga, Founder of HighCape Partners.
“This financing will allow us to further expand our global business, as well as introduce new products that improve upon the standard of care while driving down healthcare costs,” said John Tighe, President and Chief Executive Officer of ZipLine Medical.
“We are pleased to have HighCape Partners' support for ZipLine Medical. Their experience in the wound care market will be invaluable for the commercial roll-out of the company's novel product suite,” added Bali Muralidhar, Partner at MVM Life Science Partners.
ABOUT ZIPLINE MEDICAL
ZipLine Medical is an innovator in cost-effective, non-invasive surgical skin closure devices that deliver high patient satisfaction and surgeon efficiency. Zip Surgical Skin Closure devices have been used in more than 100,000 cases and in over 30 countries worldwide. ZipLine Medical was founded by Amir Belson, M.D. and is headquartered in Campbell, CA. For more information, visit www.ziplinemedical.com.
Zip® Surgical Skin Closure devices are classified by the U.S. FDA as ‘Class I, 510(k) Exempt’ and have received the CE Mark and CFDA approval.