Capitan Orthopedics has closed an oversubscribed Seed financing round, bringing total capital raised to $4.1 million. The company said the Seed round was oversubscribed by more than $1.1 million.
Capitan plans to use the financing to continue development and validation work around its SupraSpacer implant and to prepare for its first in-human clinical trial. That study is expected to begin in the first quarter of 2027.
The financing follows Capitan’s recent receipt of FDA Breakthrough Device Designation, another milestone as the company advances the SupraSpacer toward clinical development.
Capitan is developing the SupraSpacer for younger, active patients with irreparable rotator cuff tears.
The company sees a treatment gap between existing surgical approaches and reverse total shoulder arthroplasty, which can provide strong results for older patients but may not represent the preferred option for younger patients with irreparable tears.
SupraSpacer is designed as a durable metallic implant that maintains alignment between the humeral head and glenoid throughout shoulder motion.
According to the company, the implant is designed to preserve approximately 90% of the humeral head cartilage.
Capitan has also designed the implant around a seven-step surgical procedure intended to be straightforward and reproducible.
The system is being developed for use in ambulatory surgery centers and includes sterile-packaged instruments and implants intended to support procedural efficiency.
Capitan said core development of the technology has been completed and that it now has a clearer regulatory path as it prepares for human clinical evaluation.
The company believes the combination of a relatively simple procedure, a durable implant and an ASC-compatible system could address a significant underserved group of patients.
Capitan Orthopedics is backed by Genesis Innovation Group, a medical device development and commercialization organization.
The new capital will allow the company to move from development and validation toward the clinical evidence required to support its regulatory and commercialization strategy.
KEY QUOTES:
“I am extremely excited to announce that we have not only closed our Seed round, but have oversubscribed by over $1.1 million dollars. In addition to our recent receipt of FDA Breakthrough Device Designation, our team continues to reach milestone achievements at an accelerated pace. Today is yet another special day in our rapidly progressing project timeline.”
“We remain very encouraged by our continued progress on this innovative project, the strength of the unmet clinical need and the unique opportunity it creates. Our investors clearly recognize this opportunity, and their capital investment demonstrates significant confidence in the work we are doing. The progress we are making to deliver to the market a solution that is simple, reproducible, and cost effective is exceptional. With core development complete and a clear regulatory path ahead, we look forward to beginning our first in human clinical trial as soon as possible.”
Chance W. Leonard, CEO Of Capitan Orthopedics
“For decades surgeons have struggled with the irreparable rotator cuff tear. For those patients 65 years and older, the reverse total shoulder arthroplasty provides outstanding results. However, for the younger, active patients with an irreparable rotator cuff tear, there remains a void in surgical treatment options. The SupraSpacer stands to fill that gap with a durable, metallic implant that maintains the humeral head aligned with the glenoid throughout a full shoulder range of motion while preserving 90% of the humeral head cartilage. The seven-step surgical procedure is straightforward, reproducible, and ideal for utilization in the ambulatory surgery center.”
R. Sean Churchill, MD, MBA, Shoulder Reconstruction Specialist And Surgeon Design Team Member
