Burlington, Mass.-based custom orthopedic implant maker ConforMIS Inc. expanded its Series E round of funding to $167.7 million on Monday. Sovereign Wealth Funds, government investment and private equity funds in the U.S., Europe, Asia and the Middle East participated in the round of funding, which will be put towards advancing the manufacturing process and commercialization of ConforMis's iTotal G2 knee replacement system.
Since its founding in 2004, the biotech company has raised $308 million in financial backing, according to CrunchBase. In November 2012, ConforMIS gained a facility in Bedford, Mass., in addition to its Burlington headquarters. In total, the company employs around 300 people.
ConforMIS began its Series E round back in January 2012 and raised $89 million from AGC Equity Partners, Axel Johnson Inc. and government investment funds from Asia and the United Arab Emirates. At the time, the company stated that it had plans to use the additional backing to support sales and marketing expansions, as well as research new product lines and and build out manufacturing infrastructure.
