Axya Medical
Axya Medical is a U.S.-based company that offers knotless fixation systems for shoulder repair.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor investor investor investor | €0.0 | round | |
$2.8m | Early VC | ||
| Total Funding | 000k | ||
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Founded in 1997, Axya Medical carved a niche in the surgical devices market by developing technology for welding surgical sutures and polymers using ultrasonic energy. The company was established by co-founders Paul V. Fenton, who served as President, and Thomas D. Egan, the Chief Technology Officer. Their work addressed a significant challenge in surgery, particularly in minimally invasive endoscopic procedures: the time-consuming and complex task of tying suture knots. Axya Medical's solution was designed to function like a "stapler that leaves a suture," offering surgeons the speed of a mechanical device with the clinical advantages of absorbable sutures over metal staples.
The firm's product line was centered on providing knotless fixation systems for procedures like shoulder repair. These systems included a control unit, a handpiece, a wielding sleeve, and specialized sutures. In addition to the core welding technology, the company offered a range of implants, such as titanium and bioabsorbable options, and various accessories to support surgical procedures, including graspers, cutters, and drill guides. The business operated by selling these specialized devices and consumables to the medical community, targeting applications in sports medicine, urology, gynecology, and general surgery.
Axya Medical was a venture-funded entity, attracting capital from investors including The Vertical Group, CrossBow Ventures, Sightline Partners, and Prism Venture Partners, among others. This funding supported the expansion of its sales and marketing organization and the development of new products. After operating for a decade and establishing its technology in the market, Axya Medical, Inc. was acquired by Wright Medical Group N.V. on February 27, 2007, marking a significant milestone in the company's history.
Keywords: surgical devices, ultrasonic suture welding, knotless fixation, minimally invasive surgery, endoscopic procedures, shoulder repair, medical instruments, bioabsorbable implants, suture technology, arthroscopic surgery, polymer welding, surgical accessories, medtech, orthopedic surgery, surgical staples, wound closure, medical consumables, venture capital, Wright Medical Group, Paul V. Fenton