Atlanta Biotech MedShape Solutions, Inc. Raising $8 Million  
7/5/2012 8:13:22 AM

MedShape Inc., which has developed a shape-shifting material to aid orthopedic surgeries, is seeking $8 million, according to a Securities and Exchange Commission filing.

The Atlanta-based biotech has raised about $2.5 million of the $8 million, the SEC filing noted.

MedShape CEO Kurt Jacobus was not available for comment.

MedShape has developed a shape-changing biopolymer material that is ideal for creating medical devices used to repair damaged ligaments, tendons and cartilage. In one variation of the technology, surgeons drill a hole into the bone and insert the polymer implants, which change shape to anchor the ruptured soft tissue back to bone.

MedShape, which serves the shoulder, and foot and ankle surgery markets, has received Food and Drug Administration clearance to apply its technology to treat knee, elbow and wrist injuries.

Previously, MedShape raised an undisclosed financial round from Arlington, Va.-based In-Q-Tel, a venture capital firm that supports the Central Intelligence Agency.

MedShape is in a market sweet spot. As the millions of fiercely independent baby boomers age, they will be voracious consumers of medical device implants in their struggle to maintain their hyperkinetic lifestyles.