Nanochon, a Washington, DC-based orthopedic device company developing an implant for treating articular cartilage defects in the knee, has secured commitments to close an oversubscribed funding round, bringing its total capital raised to date to $11.3 million.
Nanochon said it will commence a phase I trial in Canada in the coming weeks for its patented knee implant Chondrograft.
The device is a minimally invasive implant that allows for immediate weight-bearing and motion. It's designed to fit into the damaged area of the knee using a press-fit procedure. Once in place, it draws in blood and active cells from the bone underneath, supporting the healing processes.
"We’re both honored and humbled to oversubscribe another funding round,” said CEO Ben Holmes in a statement. “The capital commitments from our investors speaks volumes about their confidence in the work we’re doing to shift the paradigm of cartilage restoration. Not only do we have strong financial backing, but these partners also offer us support in commercial and regulatory strategies as well. As we step up to the start line of our clinical journey, Nanochon is powered by an exceptional team whose dedication, creativity, and execution make this moment possible. With the right people, partners, and capital in place, we’re excited to translate years of innovation into meaningful outcomes for patients.”
