Wednesday, May 16, 2007

Amedica Raises $13.2M in Series D Financing

Amedica Corp. announced Wednesday that it has concluded a private placement of its Series D convertible preferred stock and raised $13.2 million in gross proceeds. Creation Capital LLC was the placement agent for the funding. Investors in the firm were not disclosed. Amedica said it plans to use the funds to continue expanding its medical ceramics manufacturing facilities. The company added that the money will also be used to stimulate product development, hire additional personnel and to pursue patent protection. Since November 2003, Amedica has raised more than $44 million in private equity funding. The Salt Lake City-based firm specializes in developing and manufacturing orthopedic implants. More information »