ZipLine Medical, Inc. announced today that they have completed a $12 million Series E round of financing. (Proceeds from the financing will be used to continue worldwide commercialization activities for its Zip® Surgical Skin Closure products, as well as development of advanced tools to reduce post-discharge costs in a bundled care environment).
HighCape Partners, a growth equity fund based in New York which invests broadly across the healthcare sector, led the financing. The financing includes participation from existing investor MVM Life Science Partners LLP.
Dean Tozer, Operating Partner of HighCape Partners reported, “ZipLine Medical has introduced a revolution in surgery – advanced wound closure that addresses inherent limitations with traditional, antiquated methods. The ZipLine team is developing and marketing disruptive products that minimize risk, improve clinical outcomes and address the constant pursuit of cost-effective healthcare.” (As part of the financing, Tozer has joined the ZipLine Medical Board of Directors).
Founder of HighCape Partners, Matt Zuga added, “We are excited to help propel the company to the next level of growth and commercial success.”
“This financing will allow us to further expand our global business, as well as introduce new products that improve upon the standard of care while driving down healthcare costs,” said John Tighe, President and Chief Executive Officer of ZipLine Medical.
“We are pleased to have HighCape Partners’ support for ZipLine Medical. Their experience in the wound care market will be invaluable for the commercial roll-out of the company’s novel product suite,” added Bali Muralidhar, Partner at MVM Life Science Partners.