Cotera

About Cotera

Cotera, Inc., operating under coteraortho.com, was a clinical-stage medical device company established in 2011 in Menlo Park, California. The company was formed by The Foundry, a prominent medical device incubator, with Vivek Shenoy as a co-founder and COO and Greg Bakan serving as President and CEO. Cotera was focused on addressing the significant treatment gap for patients suffering from medial knee osteoarthritis, positioned between conservative therapies and major surgical interventions like total knee replacement.

The company's core product was the Latella Knee Implant, a novel, extracapsular device designed to alleviate knee pain. This implant was attached to the femur (thigh bone) and functioned by laterally displacing the iliotibial band. This biomechanical shift increased the band's moment arm, effectively transferring excessive load from the damaged medial compartment to the healthier lateral compartment of the knee. The business model centered on commercializing this patented device for orthopedic surgeons. The key benefit for patients was a minimally invasive procedure, reportedly taking only 30 minutes, that required no bone cuts and was designed to be fully removable, thereby preserving all future treatment options.

Cotera successfully attracted venture capital, securing a $5.04 million Series A round in 2012 followed by a Series B in 2014, with funding from notable investors such as Domain Associates and Versant Ventures. Despite its promising technology and backing, the company ceased operations and is now listed as out of business as of March 2019.