February 8, 2021
Deep Blue Medical Advances lures $3.44M in equity for hernia repair tech
DURHAM — Deep Blue Medical Advances, which received FDA clearance to begin selling its hernia mesh product in August 2020, has increased its equity to $3.44 million, according to a regulatory filing. The company raised $1.57 million in debt in January.
The company disclosed both raises in filings with the U.S. Securities and Exchange Commission.
The company says its T-Line Hernia Mesh “provides superior anchoring strength and eliminates a key point of failure for conventional mesh fixation.” It is designed to counter “mesh migration, contraction and eventual failure.
Deep Blue previously raised more than $800,000 in funding.
The company was founded in 2014 by Duke plastic surgeon Howard Levinson, MD.
In separate efforts, Levinson is working on additional projects including an anti-biofouling Foley catheter, a non-invasive light imaging technology to diagnose skin disorders, and tissue-engineered skin that resists contraction.
“Sewing a bit of each extension into the abdominal wall, in lieu of traditional sutures, significantly increases mesh anchoring strength and thus the durability of the repair,” Levinson says of the T-Line. “We believe this approach will greatly improve patient outcomes without necessitating significant changes to current surgical practice.”
Millions of hernia surgeries are done globally at billions in clinical costs and support a $1.1 billion hernia device market.