ORTHOCON Announces New President, $25 Million In Financing

fundingBig news at ORTHOCON, DeviceSpace reports. The New Jersey-based company, which develops devices that deliver therapeutics to bone, recently announced the appointment of a new CEO and the closing of $25 million in Series B funding. Paul R. Sohmer, M.D., was selected as the company’s new President and CEO. Sohmer is an experienced physician who has previously led TriPath Imaging and its predecessor company, Neuromedical Systems. He will oversee the use of $25 million raised in ORTHOCON’s latest round of financing, which will support pipeline development and the company’s lead clinical program. ORTHOCON’s lead product is an extended release bone hemostat designed to stop bleeding and provide local pain relief. The company plans to start clinical trials later this year.

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