ORLANDO, Fla., Sept. 4, 2024 /PRNewswire/ — ABANZA, a pioneering company in advanced soft tissue repair solutions, is excited to announce the successful completion of its Pre-Series A funding round, raising $5 million.
This funding round was led by a Family Office specializing in medical device investments, along with private investors. The funds will be used to accelerate the U.S. launch of ABANZA’s innovative Soft Tissue Fixation product line, including the WasherCap™ and WasherCap™ Mini. This milestone marks a significant advance toward achieving ABANZA’s mission to revolutionize soft tissue repair with its patented technology.
ABANZA’s technology addresses major challenges in the soft tissue repair market by enhancing fixation strength regardless of patient bone quality and minimizing graft displacement after surgery.
The WasherCap™ Fixation System has received FDA clearance for fixation of soft tissue grafts, including tendons and ligaments, during surgical procedures such as in Anterior Cruciate Ligament (ACL) reconstruction of the knee and has been used by a select group of surgeons in a preliminary launch. The company is also preparing to introduce the WasherCap™ Mini, which will cater to a wider range of applications including knee, hand, wrist, and elbow repairs.
ABANZA is expanding its field sales team to work with leading orthopedic specialists across key U.S. markets. This expansion will evolve over time, with increased staffing, production capacity, and educational initiatives for physicians.
Dr. Nirav Amin, an Orthopedic Sports Medicine specialist in Orange County, California, commented, “Having used this device, I’ve noted its exceptional performance in eliminating residual graft laxity right from the start. It’s very easy to use and ideal for cases where fixation and laxity is a concern; especially when using adjustable button fixation”.
Juan Abascal, CEO of ABANZA, commented, “This funding represents a pivotal moment for our entry into the U.S. market with the WasherCap™ Soft Tissue Fixation System. The WasherCap™ product is the first in a series of innovative solutions we plan to introduce for soft tissue repair. We are fortunate to have engaged with an outstanding group of investors, many of whom bring deep healthcare expertise and valuable connections to our venture.”
ABANZA is poised for a dynamic growth phase in the U.S., with the WasherCap™ Fixation System leading its product rollout. This launch marks the beginning of a comprehensive strategy to meet the needs in soft tissue repair and establish ABANZA as a key player in this sector.
For more information about ABANZA and its innovative solutions, please visit www.abanzamed.com.
About ABANZA
ABANZA is a leading innovator in Orthopedics and Arthroscopic Soft Tissue Repair. Committed to pioneering solutions and continuous improvement, ABANZA aims to enhance patient quality of life through the design and development of cutting-edge medical devices. The company is set to lead the next generation of medical device development with a focus on Sports Medicine and Soft Tissue repair/fixation.
SOURCE ABANZA
