Cartiva, an Alpharetta, GA-based developer of products for the treatment of cartilage damage and osteoarthritis, secured $8.5 million in Series E financing.

New Enterprise Associates led the round with participation from Windham Venture Partners and other returning investors.

Cartiva also expanded its existing debt facility with Silicon Valley Bank, providing for additional optional term loan debt and the addition of an accounts receivable revolving credit facility.

The company intends to use the proceeds for the commercialization of its Cartiva Synthetic Cartilage Implant and for general corporate purposes.