Nimbus Synergies is pleased to announce the completion of a $2.26 million follow-on investment in portfolio company Arbutus Medical. This investment was led by Nimbus Synergies and Genome BC’s Industry Innovation (I²) Fund to support the commercialization of Arbutus Medical’s TrakPak® – a complete single-use procedure kit that contains everything a surgeon needs for skeletal traction. Syndicate partners for this financing round included Canadian health tech and impact investment funds MEDTEQ Invest, ScaleGood Impact Fund, and ThresholdImpact.
Arbutus Medical, in partnership with DEWALT®, expands the potential applications for high-quality power tools transforming them into sterile surgical drills for hospitals and field settings using its innovative surgical drill technology. This technology eliminates the need for hospitals to sterilize a drill between surgeries, providing a significant cost and time advantage compared to conventional sterilizable drills.
“TrakPak® is our first consumable procedure kit designed to streamline an orthopaedic trauma procedure called skeletal traction commonly used to help treat femur and pelvis fractures,” said Lawrence Buchan, CEO of Arbutus Medical. “By bundling everything in one sterile-packed kit alongside our drills, we believe surgeons can save upwards of 45 minutes per patient. This reduces staff frustration with lengthy procedure times and improves the patient experience.”
To date, Arbutus Medical’s products have been used by customers in 40 countries enabling an estimated 85,000 surgeries. The solution has been cleared by the FDA and Health Canada.
“Arbutus’ positive impact for patients across so many diverse medical settings around the world has been remarkable and a privilege to witness and support as its largest investor,” said Paul Geyer, CEO of Nimbus Synergies. “This financing will support Arbutus’ launch and rapid scale-up of the next generation of TrakPak® this year as it aims to set a new standard of care for skeletal traction across Trauma Centers in the U.S. and beyond.”
Beyond skeletal traction, Arbutus Medical sees a significant market opportunity to develop a complete portfolio of sterile-packed procedure kits alongside their surgical drill platform to help surgeons and patients in many contexts from Trauma Centers’ ERs to Ambulatory Surgery Centers, veterinarians, and hospitals worldwide.
ABOUT NIMBUS SYNERGIES
Nimbus Synergies leads early-stage financings in innovative and complementary health technology companies in Canada. By bringing these companies together to share resources, industry specific knowledge, and relationships, Nimbus is accelerating their growth and increasing their likelihood of success. Nimbus is significantly impacting the health technology sector through its leadership as investor, partner, and mentor.
ABOUT ARBUTUS MEDICAL
Arbutus Medical Inc. is a privately held ISO13485 medical device company headquartered in Vancouver, Canada. Arbutus Medical is developing innovative surgical drill technology and sterile-packed orthopaedic procedure kits that save time and money for hospitals. The company is currently focused on improving the standard of care for bedside skeletal traction surgeries that help treat orthopaedic trauma in the ERs of large Trauma Centers. Arbutus Medical’s TrakPak® skeletal traction procedure kit (which includes its patented DrillCover Technology, SteriGo® power tool drape, SteriTrak® traction pin driving system, and QuikBow™ pin tensioner) has received regulatory clearances from the U.S. Food & Drug Administration (FDA) and Health Canada. In addition to its premium skeletal traction solution, the company distributes a line of surgical drills available at accessible price points to customers around the globe.
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