Paragon 28 Closes Series B Round of Financing

Paragon 28 Closes Series B Round of Financing

The investment round was co-led by Piper Sandler Merchant Banking, a commercial-stage growth equity investment business of Piper Sandler Companies, and MVM Partners, a healthcare growth equity investment firm. The financing also included active participation from an existing Series A investor.

FREMONT, CA: Paragon 28, an Englewood, Colo.-based orthopedic foot and ankle company, closed a Series B financing of undisclosed amount.

The investment round was co-led by Piper Sandler Merchant Banking, a commercial-stage growth equity investment business of Piper Sandler Companies, and MVM Partners, a healthcare growth equity investment firm. The financing also included active participation from an existing Series A investor.

The new financing will support Paragon 28's ongoing initiatives to create, develop and launch new products, including the recently FDA cleared APEX 3DTM Total Ankle Replacement System and continued commercial expansion in the US and global markets.

Led by Albert DaCosta, President and CEO, Paragon 28 creates innovative and improved solutions to the challenges faced by foot and ankle specialists.

The company offers the APEX 3D™ Total Ankle Replacement System, and a Precision Ankle Solutions product offering, which includes Silverback® Ankle Fusion Plating System, the Gorilla® Ankle Fracture Plating System, and Phantom™ TTC Fusion Nail Systems.

Albert DaCosta, President and CEO of Paragon 28, stated, "We are pleased to add this capital to our balance sheet and equally excited about the partnership. The Series B proceeds will enable our team to focus on the best growth opportunities and expand our market position. To close this round on the tenth anniversary of the company is a special moment for our team."

Kevin Cheng, a partner at MVM, commented, "The foot and ankle segment of orthopedics is a relatively new surgical specialty. Paragon 28 is relentlessly focused on improving procedures through an extensive array of novel products that are specifically engineered for lower extremities. We are impressed by the advancements that the Paragon team has made, and we are delighted with the opportunity to support the business through its next phase of growth."