Nanochon, a Washington, DC-based orthopedic device biotech company, raised $4M 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.
University of Virginia Licensing, Ventures Group Seed Fund, with participation from Cultivate (MD), Alumni Venture Group, and Mountain State Capital,
The company intends to use the funds to initiate its first in human clinical trials in the US in 2024, deepen research and development efforts, expand its patent profile and grow its team.
Led by Ben Holmes, CEO and co-founder, 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.
The company 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.
FinSMEs
06/05/2024