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MALVERN, Pa., Oct. 20, 2022 (GLOBE NEWSWIRE) — Toetal Solutions, Inc., a foot and ankle medical device company, announced that it has closed an additional $1,800,000 in funding from Runway Healthcare , LP, with participation from Runway Healthcare investors. Toetal Solutions plans to use the product to finalize product development and obtain regulatory clearance for its lead product, the Ziptoe™ Hammertoe System.
The Ziptoe Hammertoe System allows foot and ankle surgeons to treat rigid hammertoe deformities with a simple, easy-to-use implant. “The system was carefully designed with input from surgeons to address common pitfalls of devices available to surgeons today. The Ziptoe implant is easy to use and provides incredibly stable fusion from the moment it is deployed. moreover, it allows surgeons to address PJD if necessary, by addressing Total Pathology with Total Solution,” said Nick Romansky, DPM. The Ziptoe System includes a proprietary deployable nitinol implant that comes sterile packaged with all disposable instrumentation necessary to perform the procedure in any surgical setting effectively and efficiently.
“This funding should allow our team to finalize the development of the Ziptoe Hammertoe System and obtain FDA approval, which will fundamentally change the way surgeons treat forefoot deformities. Our goal is to improve patient outcomes while making life easier for surgeons,” said co-founder and chief technology officer William Rhoda.
Toetal Solutions is Runway Healthcare’s second portfolio company. The medical device accelerator combines capital and direct management to provide business opportunities for the medical device industry after regulatory approval. Runway Healthcare will seek to transition ownership of Toetal Solutions to a larger multinational healthcare company for commercialization.
About Toetal Solutions, Inc.:
Toetal Solutions was founded in 2021 to create easy-to-use, clinically effective solutions for foot and ankle deformities. The Ziptoe™ Hammertoe System includes a sterile procedure kit and implant to treat striated hammertoe deformity.
About Runway Healthcare, LP:
Runway Healthcare is an early-stage MedTech accelerator focused on early-stage technology in the orthopedics, cardiology and neurology sectors. Runway finances and manages the product development process of its portfolio companies. When navigating a portfolio company through the regulatory process, Runway Healthcare will seek to transfer ownership of its portfolio companies to larger multinational healthcare companies for commercialization.
This press release contains “forward-looking statements” regarding the development of Toetal Solutions products, the potential benefits and attributes of these products, and the company’s expectations regarding its prospects. Forward-looking statements are subject to risks, assumptions and uncertainties that could cause actual future events or results to differ materially from such statements. These statements are made as of the date of this press release. Actual results may vary. Toetal Solutions undertakes no obligation to update forward-looking statements for any reason.
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Jeff O’Donnell, Jr.
President and CEO
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