Nanochon closes $4M Series Seed Prime
May 06 2024 - 11:00AM
Business Wire
Nanochon, a Washington, DC-based orthopedic device biotech
company has raised $4 million in its series seed prime fundraising
round.
The round was led by The University of Virginia Licensing and
Ventures Group Seed Fund, with participation from Cultivate (MD),
Alumni Venture Group, and Mountain State Capital, among others.
Nanochon intends to use the funds to initiate its first in human
clinical trials in the US in 2024, deepen research and development
efforts, expand the company’s patent profile and grow its team.
“We’re thrilled to close our funding round and begin our
clinical program,” says Ben Holmes, CEO and co-founder. “Securing
this funding is one step closer towards achieving Nanochon’s goals
of eliminating the need for knee replacements, and greatly shifting
the paradigm of arthritic joint care.”
Nanochon will initiate a phase I trial in the US this year for
its patented knee implant Chondrograft™. The device requires only
minimally invasive surgery to regrow damaged cartilage and bone to
stave off the need for full knee replacements which are costly and
have a long recovery time.
Holmes follows, “We’ve had fantastic success in our animal
studies and we’re very optimistic about future implications in
human knees and other joints.”
Nanochon is a biotech and medical device company focused on
developing innovative orthopedic solutions. Chondrograft™ is a
minimally-invasive implant that allows for immediate weight-bearing
and motion – meaning less time spent recovering. Nanochon has the
potential to deliver more successful and longer-lasting recovery
for patients than current standard of care. Our mission is to
develop a new approach to treat cartilage replacement and repair so
that the hundreds of thousands of young, active patients with joint
damage can return to their lifestyles without having to undergo
costly and invasive short-term fixes.
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Benjamin Holmes, ben.holmes@nanochon.com