Trice Orthopedics lands $3M bridge loan
Trice Orthopedics closes a $3 million bridge loan led by BioStar Ventures.
Trice Orthopedics said it closed a bridge loan financing worth about $3 million.
The King Of Prussia, Pa.-based medical device company said BioStar Ventures led the round, along with Millennium Life Sciences, existing investors and several new private backers.
"These proceeds will fund the company through its 510(k) submission, in Q1 2014, and the start of commercialization in mid-2014. We look forward to this next stage of our development. I believe that there will be a tremendous amount of opportunity in the orthopedic markets for the Trice device," president Richard Washburn said prepared remarks.