Ossio Secures $22 Million in Funding to Advance Smart Bone Regeneration Technology and Files for IPO

VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that Ossio announced the completion of a $22 million financing round on March 11, 2019. The round was led by OCV Partners, with participation from Ortho Vision and Secocha Ventures. According to the official announcement, Ossio’s total funding will reach $35 million following this round.

Ossio’s official website states that the funds from this financing round will be allocated to two areas: first, advancing the commercialization of its product, OSSIO Fiber; and second, recruiting talent to develop additional new products.

Ossio, founded in 2014, is an orthopedic medical device company with its R&D headquarters in Caesarea, Israel, and its commercial headquarters in Boston, Massachusetts. The company is dedicated to replacing metal implants used in traditional orthopedic surgeries with intelligent bone regeneration technology, thereby improving outcomes in orthopedic procedures.

OSSIO Fiber is a bone pin product under Ossio, utilizing a fixation material composed of a natural mineral fiber matrix. The product received FDA 510(k) marketing clearance on January 14, 2019. The company states that OSSIO Fiber exhibits higher mechanical strength than cortical bone upon initial implantation, and as the wound heals, body weight is gradually transferred to the native bone. Clinical studies have shown that the product fully integrates into the human body within 18 to 24 months, without causing severe inflammatory reactions. Currently, the company is conducting clinical trials of OSSIO Fiber in Europe, with CE certification expected in 2020.

Ossio CEO Brian Verrier stated, “Following FDA approval in January, we began preparations to drive the commercialization of OSSIO Fiber in the United States. This financing provides the necessary capital support to scale up production and ensure we can meet customer demand.”

Mark Yung, co-founder of OCV Partners, said, “Ossio has created a new type of biointegrative fixation platform that we believe will transform the global orthopedic market.”

OCV Partners, established in 2016, is a venture capital fund based in California. The fund’s investments span multiple sectors, including technology, healthcare, industry, real estate, and finance.

Ortho Vision LLC, headquartered in Santa Ana, California, operates a wholesale business for surgical medical devices and supplies.

Secocha Ventures, established in September 2013 and headquartered in Florida, is an investment firm focused on early-stage companies. The firm invests across various sectors, including healthcare, finance, technology, and consumer goods.

(Compiled by Yang Shiying)