Orthopedic and spine device company 4Web Medical closed a financing round to support growth in the next five years.
Four things to know:
1. 4Web Medical closed a round of financing with SWK Holdings Corp. and plans to use the extra funding to invest in product development, procedural-based solutions and clinical research.
2. In the past five years, the company focused on educating the medical device industry on implant technology from advanced structural designs with additive manufacturing. "Now that the surgeon community has adopted these concepts, we will be focusing on what's next: fully characterizing the benefits that Truss Implant Technology and Mechanobiology have on clinical outcomes," said CEO Jessee Hunt.
3. The FDA granted 4Web clearance for its spine interbody fusion device with 3D printing technology, which has been implanted more than 40,000 times.
4. In the fourth quarter of 2018, 4Web reported sales growth and year over year increase in the units sold.