OSSIO, a Woburn, Massachusetts-based orthopedic fixation company, announced it closed $22 million in equity financing led by OCV Partners. Existing investors Ortho Vision LLC and Secocha Ventures also participated in this round. Including this round, OSSIO has raised $35 million total. And OSSIO will be using the funding to accelerate strategic growth initiatives such as talent acquisition, commercialization, new product development, and operational expansion. In conjunction with this funding round, OCV Principal Zohar Loshitzer is joining OSSIO’s board.
Photo Credit: OSSIO
Earlier this year, OSSIO received 510(k) market clearance from the U.S. Food & Drug Administration for its OSSIOfiber Bone Pin Family — which is a first-of-its-kind implant system that uses a proprietary bio-integrative material to provide stability and maintain the alignment of bone fractures, osteotomies, arthrodesis, and bone grafts during the healing process. And this leaves no permanent hardware behind.
“Following receipt of FDA clearance in January, we are moving forward with the commercial launch of OSSIOfiber in the United States. This financing provides us with the necessary capital to accelerate our core strategic growth initiatives to ensure we have the inventory and support to meet the anticipated demand for the OSSIOfiber technology,” said OSSIO CEO Brian Verrier in a statement. “We are honored that OCV, Ortho Vision and Secocha Ventures, together with the rest of our strong group of investors, stand behind our breakthrough fixation technology and our overall vision to transform the orthopedic experience for patients, physicians and payors.”
Photo Credit: OSSIO
The OSSIOfiber platform provides an unprecedented combination of mechanical strength and natural bone healing in a non-permanent implant and it offers physicians and their patients a new category in fixation implants. And the first commercial use is focused in the foot and ankle segment for the treatment of forefoot conditions where hardware removal surgeries are prevalent.
“OSSIO has created a novel bio-integrative fixation platform that we believe has the potential to disrupt the global orthopedic fixation market,” added OCV Partners co-founder and managing principal Mark Yung. “With its unparalleled bio-integrative platform and unique ability to address multiple surgical applications and segments, OSSIOfiber Intelligent Bone Regeneration Technology offers a highly differentiated fixation approach that is stronger than bone and fully incorporates into the native anatomy, minimizing implant-related complications and the need for additional surgeries.”