Fort Wayne-based BioPoly LLC, a subsidiary of Schwartz Biomedical, has secured another $2.5
million in equity financing, bringing the amount raised for the company’s first orthopedic product
to $8.1 million, Chief Financial Officer Sabra Rowley said.
The latest funding came from accredited private investors.
The company, which plans to initially release its BioPoly-RS Partial Resurfacing Knee System
to the European market, has received $3.3 million from the Indiana 21st Century Research and
Technology Fund and $4.8 million from private investors.
BioPoly, launched in 2006, has a patent on material with self-lubricating characteristics that
makes it optimal for localized cartilage replacement.
“The BioPoly-RS knee product, made from advanced biomaterial, will provide orthopedic
surgeons a new treatment option for patients suffering from painful cartilage
defects,” Frank Proch, BioPoly director of engineering and quality, said in a statement.