BionX Medical Technologies Inc raised $17 million so far during its recently completed round of Series E funding, states a media release from the company.

ZGC Shiner Investment—a Beijing-based investor—led the funding, which will be used for commercial expansion in the United States and internationally, as well as for product development.

The company—whose flagship product is the BiOM Ankle lower-limb prosthesis—plans to complete a total raise of $25 million in Series E financing by the end of Q1 2016, per the release.

“We’re pleased with the successful start to our Series E funding, which provides us with the resources to support our commercialization efforts,” says Dr Charles S. Carignan, president and CEO of BionX, in the release.

“Working with ZGC has been beneficial to BionX as they bring solid investment expertise and are a strategic partner for expansion in China, a market with enormous potential,” he adds.

BionX Medical Technologies Inc is headquartered in Bedford, Mass.

[Source(s): BionX Medical Technologies Inc, Business Wire]