Knee implant maker Moximed has closed on a round of stock financing for up to $91 million, according to an Aug. 13 report from Mass Device.
The funding round includes $61 million and an option to acquire an additional $30 million. The investment round was led by Elevage Medical Technologies.
New investors include Cormorant Asset Management and Warren Point Capital, while existing investors New Enterprise Associates, Future Fund, Advent Life Sciences, Gilde Healthcare, Vertex Ventures HC, GBS Venture Partners and Morgenthaler Ventures all participated.
Moximed plans to use the funds to accelerate commercialization efforts for its Misha knee system, which earned de novo clearance in April 2023 for the treatment of medial knee osteoarthritis.
Dennis Crawford, MD, PhD, performed the first commercial case using Moximed's Misha knee implant in September 2023.