Apr 26, 201208:35 AMBlog
Cadence Biomedical closes $1.1M in financing
Cadence Biomedical, a provider of medical devices that help people with severe disabilities walk, has closed an oversubscribed $1.1 million Series A2 financing led by HealthTech Capital.
Other investors include Sand Hill Angels, Tech Coast Angels, ACE Fund, Frontier Angel Fund, WINGS, Alliance of Angels and Keiretsu Forum Northwest. The financing will support manufacturing and sales as Cadence releases its Kickstart Kinetic Orthosis to the market.
Seattle-based Cadence Biomedical also has been awarded grants from the National Institutes of Health and the congressionally-directed Medical Research Program.
Kickstart, Cadence’s flagship product, is a Kinetic Orthosis that amplifies existing strength to help people with severe disabilities walk. Kickstart uses no motors or batteries. Instead, a proprietary tuned system of pulleys and springs captures energy during the beginning of a step and then returns it at the right moment to help propel the user forward and lift the leg in preparation for the next step.