IRVINE, Calif.--(BUSINESS WIRE)--Rebound Therapeutics™ Corporation today announced the initial closing of their Series-B financing in the amount of $16.5 million. The financing was led by HBM-MedFocus (Irvine, CA), Invus Opportunities Fund (New York, NY), and affiliates of Wexford Capital LP (Greenwich, CT and West Palm Beach, FL). The funding will support ongoing product development, worldwide regulatory approvals, manufacturing scale-up and commercialization efforts.
Jeffrey Valko, President and CEO, commented, “We are very pleased to have the support from our investment partners as we build out our proprietary technology platform comprised of state-of-the-art imaging and illumination technologies for use during many Minimally Invasive Surgery (MIS) procedures. When used together, our single-use, disposable MIS access and therapeutic devices will disrupt the way many MIS procedures are currently performed, including the displacement of the large, complex, capital equipment being used in operating rooms today. The Rebound platform technologies can be adapted for a variety of surgical procedures including neurosurgery, spine and orthopedic surgery, thoracic and general abdominal surgery. In these procedures, the Rebound technology may serve as a replacement for Surgical Microscopes, Endoscopes, Exoscopes and Laparoscopes. The disposable products developed by Rebound will reduce the burdens of high capital equipment cost, operating room footprint, patient scheduling, maintenance and calibration expense, sterilization risks, procedural inefficiencies and user ergonomic hazards.”
Rebound Therapeutics Status
Rebound has progressed rapidly over the past 18 months, having developed a unique array of devices to improve the procedural and clinical outcomes of many minimally invasive surgical procedures. In addition to rapid product development of its initial products, Rebound has assembled a world-class Scientific Advisory Board of leading MIS physicians, filed 14 patents to solidify its intellectual property platform and completed a series of pre-clinical studies supporting initial human-use, scheduled to begin soon. The privately held medical device Company was founded in 2015 and is located in Irvine.