SIA Brings in $15M in Oversubscribed B Round

Surgical Innovation Associates (SIA) is ending 2021 with an oversubscribed series B round. The Chicago, IL-based company and maker of fully-resorbable, biosynthetic implants for the high-growth, multi-billion-dollar markets of plastic, reconstructive, and general surgery, raised $15 million in the round.

The financing was led by Pioneer Healthcare Partners LP.

The firm’s flagship product is a next-generation, bioabsorbable scaffold developed to provide mechanical support during the early phases of wound healing, enabling rapid and strong native tissue ingrowth, followed by gradual resorption over one year.

The product family has 510(k) clearance and CE Mark.  The technology is also subject of an ongoing pivotal trial for prosthetic breast reconstruction under an Investigational Device Exemption from the FDA.

This financing milestone is an early achievement in the tenure of SIA’s new chief executive officer, Josh Vose, MD, MBA who joined in May ’21 with the charge of leading the company through a period of explosive growth, expanding enrollment in the pivotal trial, and supporting the development of additional products and indications for the DuraSorb product family.

“Josh’s combined commercial, clinical, and regulatory experience is a powerful asset to SIA at this stage in our evolution – we’re excited to have him and look forward to his ongoing leadership,” said Alexei Mlodinow, MD, MBA, SIA co-founder, and board director. Dr. Mlodinow, the founding CEO of SIA, began his plastic and reconstructive surgery residency at Northwestern Memorial Hospital in June, 2021.