Company Research Report: Surgimatix, Inc.

Company Overview

• Name: Surgimatix, Inc.

• Mission: Surgimatix is focused on pioneering innovative patented devices that deliver suture-like fixation cost-effectively for surgeons and hospital systems in minimally invasive procedures. The company emphasizes innovation to address clinical needs directly faced by patients and healthcare providers.

• Founded: Specific founding date not provided.

• Founders: Jafar Hasan, MD, MBA, FACS

• Key People:

• Jane Kiernan – CEO & Interim CFO

• Jafar Hasan – Co-Founder

• Michael Shoup – VP, Operations & Engineering

• William Roff – Financial Planning & Analysis Manager

• David Schaller – Director Engineering

• Other notable team members include Adam Saban, John Crombie, Bryan Knodel, John Dichiara, and Gary Kobylewski.

• Headquarters: No information is available.

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: The company is renowned for its innovative device, aproxim8™, which offers advanced suture-like fixation in minimally invasive surgeries.

Products

• Product Name: aproxim8™

• Description: Introduced as a proprietary soft tissue fixation technology specifically designed for minimally invasive surgical procedures.

• Key Features:

• The fastener is composed of polydioxanone, which is a bioabsorbable, flexible, monofilament suture.

• It employs two suture needles to guide the fastener through mesh and tissue, mimicking a "figure-of-eight" stitch.

• Demonstrates average holding strength, enhanced tissue capture, and requires fewer implants compared to leading market devices.

Recent Developments

• 2020/2021:

• The company obtained FDA 510(k) clearance for its Absorbable Fixation System, indicated for the approximation of soft tissue and surgical mesh fixation during operations.

• Strengthened clinical and industry experience within the company.

• 2022:

• Executed development and commercialization strategy.

• Expanded team by hiring a CEO, VP Operations & Engineering, and established an experienced board.

• Commenced Series A financing.

• 2023/2024:

• Closed Series A financing at $6M in February 2024 to optimize aproxim8™ for manufacturability and ergonomics, gearing up for limited use and release in the U.S.

• Partnered with Paragon Medical of Mansfield, MA, as the contract manufacturing partner.

• 2024/2025:

• Planned launch of aproxim8™ with expanded regulatory filings and pursuits for partnerships.

• Efforts towards building a commercial team and wider adoption of the aproxim8™.

• Partnerships: Surgimatix has selected Paragon Medical as their contract manufacturing partner to efficiently achieve commercialization goals and maximize value.

Note: For the aspects lacking direct information, such as specific headquarters location, number of employees, or financial metrics, data is not available.