CytexOrtho
Growth Stage
One Biodegradable Implant. Full Joint Restoration.
Overview
Raised: $470,596
Total Commitments ($USD)
Platform
StartEngine
Start Date
10/26/2022
Close Date
01/24/2023
Min. Goal
$10,000
Max. Goal
$1,070,000
Min. Investment
$250
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$2.00
Pre-Money Valuation
$18,183,464
Rolling Commitments ($USD)
Status
Funded
Reporting Date
01/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$5,288
# of Investors
258
Momentum
Funded
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Year Founded
2006
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
CytexOrtho, with a valuation of $18.18 million, is raising funds on StartEngine. It is a healthcare company developing solutions to address early joint degeneration in younger patients. The lead product of CytexOrtho is a biodegradable medical implant that restores joint cartilage and bone instead of replacing them with artificial materials. The implant is made using 3D printing and 3D woven textile and mimics the functionality of healthy joint tissues. Bradley Estes, Franklin Moutos, and Farshid Guilak founded CytexOrtho in July 2006. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1.07 million. The campaign proceeds will be used to expand the hip implant indication and use and expand the product portfolio to other joints as well.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,836,602 |
$1,845,230 |
|
COGS |
$1,263,476 |
$1,288,308 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-22,653 |
$40,442 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$489,299 |
$267,208 |
|
Accounts Receivable |
$66,611 |
$197,422 |
|
Total Assets |
$626,138 |
$480,707 |
|
Short-Term Debt |
$144,543 |
$233,574 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$144,543 |
$233,574 |
Financials as of: 10/26/2022
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