Recently, medical equipment startup Moxmed announced that it has received $50 million in Series C financing. The round was led by new investors Advent Life Sciences and Future Fund, and the company's existing investment institutions NEA, Morgenthaler Ventures, Gilde Healthcare, GBS Venture Partners and Vertex Healthcare also participated in the round of financing. In addition, the company announced that Dr. Shahzad Malik, a partner at Advent Life Sciences, and Brigitte Smith, managing partner of GBS Venture Partners, will join Moximed's board of directors.
Moximed was founded in 2006 to develop therapeutic implants for knee osteoarthritis. The company has received nearly $150 million in total financing and has more than 20 US patents and more than 120 global patents pending and acquired.
Knee osteoarthritis is the most common form of arthritis, and its occurrence is mostly associated with soft tissue abrasion covering the joint surface. After the soft tissue is worn, the joint bones rub against each other, causing severe pain, shackles, and loss of motor function. According to the 2017 Centers for Disease Control and Prevention (CDC), knee osteoarthritis affects 54 million adults in the United States, meaning that one out of every four adults may have knee osteoarthritis.
Studies have shown that the causes of knee osteoarthritis are age, sports injuries, overuse, excessive joint weight caused by obesity, and genetic factors. At present, there are traditional conservative treatments and joint replacement surgery for knee osteoarthritis. Although surgery can effectively reduce joint pressure, it usually causes permanent changes in joint structure and creates obstacles for further treatment in the future.
(Atlas system schematic, image source: Atlas official website)
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