Tyber Medical successful closes initial funding round
Privately-held medical device firm Tyber Medical announced that it was able to successfully close its private equity initial funding round. The company did not disclose the names of its investors as well as the amount it was able to raise for the round. Tyber Medical is a maker of innovative spine and orthopedic devices based in Morristown, New Jersey. It is the first to market direct lateral implants for the spine that is coated with titanium plasma spray.
Tyber Medical said it will be using the proceeds from the round to purchase the necessary resources to market its TyPEEK interbody product portfolio. It will also use the capital to make more products that would cater towards the spine and orthopedic markets.
Tyber Medical President and Chief Executive Officer Jeff Tyber said about the fundraising round, "This initial round of fundraising allows us to accelerate our domestic and international sales strategy, with continued development of future trauma and extremity products to complement our customers' existing product lines."
A private labeler Original Equipment Manufacturer or OEM, Tyber Medical's current products include spinal interbody spacers that feature the company's proprietary standard sterile and non-sterile TyPEEK. TyPEEK, according to Tyber Medical, is an interbody fusion device sprayed with titanium plasm which is specifically created for situations where the best setting fusion may not be obtained with PEEK alone. It gives the advantage of bone-titanium osseointegration together with PEEK's post op imaging characteristics. Its orthopedic and spinal implant offerings include Cervical Spacers, Anterior Lumbar or ALIF, Posterior Lumbar or PLIF, Transforaminal Lumbar or TLIF and Direct Lateral or DLIF interbody spacers
Tyber Medical is a designer and developer of full class II orthopedic systems. Through a QSR and ISO 13485 certified quality system, the company is also able to verify and validate these orthopedic systems. It also pursues and maintains regulatory approvals from both the US and OUS.