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TendoNova Welcomes New Board Members

TendoNova Corporation, an emerging leader in micro-invasive sports medicine procedures, is excited to announce completion of a new Preferred capital raise intended to help finance the commercialization of its flagship product, the Ocelot® Nano.  In conjunction with the financing, we welcome Ian Campbell (former CEO of OnScale) and Jeffrey (Jeff) Clark (former CEO of Hyperbranch Medical Technologies) to TendoNova’s Board of Directors.

The financing was led by Venture South, one of the largest angel investor groups in the Southeast and CampbellKlein as co-investor.   The financing allowed the Company to convert $1.4 million in short-term debt to equity as well as providing new cash to bolster operations.

“This financing came at a critical time for the Company and is already helping to improve marketing and sales,” said TendoNova CEO Mark A. Samuels. “In fact, sales for March are double the previous sales record!”

As part of the financing, Chairman Louis F Malice Jr. and co-founders Shawna Khouri, Luka Grujic and Brett Rogers retired from the Board after helping lead the Company from virtual startup through product development, regulatory clearance and launch of commercialization.   The Company is grateful for their service.

Our new Directors have extensive experience in commercialization and exit with Ian Campbell’s sale of OnScale to ANSYS and Jeff Clark’s sale of Hyperbranch to Stryker, both in 2018.

Dr. Ken Mautner, Emory sports medicine physician (and head team physician for the Atlanta Hawks), commented “The potential to combine biologics and Ocelot to target diseased tendons with minimally invasive ultrasound-guided procedures has enormous potential. Helping develop the Ocelot, and using the Ocelot in my practice, is part of our longer-term plan to improve our ability to help our patients.”

The Ocelot System performs mechanical fragmentation or debridement of a targeted area. Fragmentation and debridement are commonly used to encourage the growth of healthy tendons to supplant painful pathologic tendon tissue. Chronic tendon pain disorders, or tendinopathies, include tennis elbow, plantar fasciitis, and jumper’s knee. Tendinopathy is prevalent in athletes and anyone else who engages in repetitive tasks. If left untreated, tendinopathy can lead to months or years of pain and even career-ending injuries.

The Ocelot device is now routinely used in prominent facilities and clinics around the county including Emory Sports Medicine in Atlanta, the Mayo Clinic Rochester and a variety of other locations

 

About TendoNova

Founded in 2017, TendoNova is a medical device company that is an emerging leader in micro-invasive sports medicine procedures. The company’s initial product is the Ocelot® TSD 1000, a patented, FDA-cleared medical device for the fragmentation or debridement of soft tissue.

TendoNova is also working on a digital health solution to provide device operating feedback during a procedure to reduce training times and improve outcomes. Dedicated to helping people live healthier lives with less pain and fewer injuries, the Company plans a series of instrumented micro-invasive tools designed to help physicians better heal patients suffering from advanced tendons and other pathologies.

 

About VentureSouth

VentureSouth is an early-stage venture firm that provides capital and expertise to Southeastern startup through its angel investment network and funds.   Since its inception, VentureSouth has grown to over 550 members across the Southeast, invested over $80 million in over 100 companies, generated investment returns for investors and helped its portfolio companies raise $1 billion in follow-on capital and create more than 1,500 jobs.  VentureSouth is located in Greenville, SC.

 

About CampbellKline

CampbellKlein is a management consulting and family investment fund. Their portfolio includes privately held Silicon Valley firms like NextInput.  CampbellKline is located in San Jose, CA.

 

Website:  www.tendonova.com
Contact:  Mark A Samuels, CEO; mark.samuels@tendonova.com;  877-203-0161