Moximed Secures $91 Million in Series D Funding to Accelerate Commercialization of MISHA Implantable Shock Absorber for Knee Osteoarthritis

Aug 14, 2024 17:08 CST Updated 17:08

Moximed

Knee Osteoarthritis Medical Device Developer

Source: Siyu MedTech; Editor: Sophia

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On August 13, 2024, knee implant manufacturerMoximedAnnouncing the completion of a deal worth$91 million (approximately 650 million)D Round Preferred Stock Financing, Including$61 millionAndUp to 30 million US dollarsThe additional financing option.

Moximed Plans to Use This Funding to Accelerate the Commercialization of Its Misha Implantable Shock Absorber in the United States.

This round of financing was led by Elevage Medical Technologies, a platform under Patient Square Capital.

Misha Knee System

# Financing Details

Patient Square Capital Platform ELevage Medical Technologies led this round of financing. Elevage Medical'sMichael Wasserman Joined the Board of Directors of Moximed, Inc.。

Michael WassermanEvaluation shows:

“Moximed's Potential Market Opportunities and DifferentiationProductAnd its clinical value is very remarkable. We are pleased that this investment will further drive the expansion of Moximed's business, positively impacting countless patients.。”

New investors Cormorant Asset Management and Warren Point Capital also joined this round of financing.All existing investors are involved.

Moximed President and CEO Chris Gleason stated, "This financing round demonstrates the significant market opportunity for the Misha Knee System. There is strong interest in our product from both surgeons and patients alike. We are thrilled to have the necessary funding to accelerate commercialization and better meet market demand."

# Misha Knee System

Research and Development Background

Osteoarthritis (OA) is a common disease that affects the lives of more than 32 million adults in the United States and is expected to impact 70 million Americans by 2040.

If the natural shock absorbers of the human body, such as joints, cartilage, and meniscus, no longer have a buffering effect, knee osteoarthritis will occur, leading to chronic pain and restricted movement.

Many patients with mild to moderate osteoarthritis are otherwise healthy, in the prime of their working lives, and have busy lifestyles.For these patients, total knee arthroplasty is not the best choice, as it is mainly intended for patients with advanced osteoarthritis.

The Misha Knee System offers a solution for patients who have not yet progressed to late-stage osteoarthritis, providing knee protection while maintaining activity levels and quality of life.

Product Information

Misha is the world's first implantable shock absorber developed for the treatment of medial compartment knee osteoarthritis.

As aExtra-capsular Knee Implantable Shock Absorber，Misha Aiming atReduce the load on the inner side of the knee joint. The implant is made byBaseAnd located between the basesAbsorberComposition.

The absorber usesLocking screws are fixed to the medial cortex of the distal femur and proximal tibia.Above. The implant shares the load with the medial knee joint,The ball-and-socket joint allows the device to adapt to the natural movement of the knee.

The system is fixed on the inner side of the knee joint and moves with the natural joint. According to the company's research data, it activates with every step.Reduced by approximately30%The peak stress of the knee joint.

Misha Knee System Designed with Patient Needs in Mind. This system is implanted beneath the skin through surgery but does not enter the joint cavity.

The surgery is performed in an outpatient setting, with an average time from admission to discharge of about 9 hours, and no restrictions are placed on the patient's weight-bearing or resumption of activities post-surgery.

On April 10, 2023, Moximed announced that its Misha Knee System received marketing authorization from the U.S. FDA, becomingWorld's FirstImplantable Shock Absorber for Eliminating Arthritis。

# AboutMoximed

Moximed, Inc. was founded in 2008 and is headquartered in California, USA. It is a technology-driven medical device startup. The company is dedicated to developing minimally invasive joint-preserving solutions for patients with knee osteoarthritis, helping those with mild to moderate osteoarthritis protect their knee joints while living a healthy and active life.

The company's Misha™ Knee System is the result of more than a decade of clinical research and development, and is the first implantable shock absorber developed for the treatment of medial compartment knee osteoarthritis.

Editor-in-Chief | Zhao Qing Reviewed by | Yi He