Funds will accelerate innovation, expand commercial presence, and drive manufacturing improvements in surgical solutions for musculoskeletal oncology and complex orthopaedics
PARSIPPANY, N.J., Sept. 1, 2021 /PRNewswire/ -- Onkos Surgical, a leading innovator of solutions for musculoskeletal oncology and complex orthopaedic procedures, today announced that it has raised $15 million in Series C funding from its existing investor syndicate.
The new funding will drive revenue growth by accelerating the company's research and development pipeline, expanding its commercial footprint, and evolving manufacturing capabilities. These investments support the company's focus on delivering surgeon-driven and patient-inspired approaches to address three main clinical challenges of complex orthopaedic procedures – implant loosening, soft tissue failures, and infection.
Onkos Surgical Co-Founder and CEO Patrick Treacy commented, "Today marks another significant milestone for Onkos Surgical. Despite the challenge and the impact associated with the pandemic, we were able to demonstrate significant revenue growth while executing on our innovation and commercial initiatives. From the beginning, we have never wavered on our 'why' – which is that we believe individuals with cancer requiring surgery deserve solutions designed specifically for them. With this additional investment, Onkos is well-positioned to accelerate our growth and deliver meaningful innovation for our surgeon customers and the patients they care for."
"The market Onkos serves has been ripe for disruption based on the unmet clinical needs of these highly specialized surgeons and their patients," said Adele Oliva, Founding Partner of 1315 Capital, lead investor and Onkos Surgical Board Member. "Driven by their unique purpose and highly-focused strategy, Onkos is delivering on the promise of innovation and solving clinical challenges that will lead to improved patient outcomes. With every key milestone achievement, the team demonstrates they are successfully creating a valuable and important business and we continue to be excited about the company Onkos is building."
More than 350 leading medical institutions in the US choose Onkos' innovative Precision Orthopaedics solutions. This approach supports improved patient outcomes and experiences, leveraging the latest innovations in virtual surgical planning, 3D anatomic modeling and printing, implant design, and workflow optimization.
Onkos Surgical is also an exhibitor at this week's American Academy of Orthopaedic Surgeons Conference in San Diego, CA. Onkos can be found at booth #3656 in the San Diego Convention Center Exhibitor Hall.
About Onkos Surgical
Onkos Surgical is a leader in innovative solutions for musculoskeletal oncology and complex orthopaedic procedures. With our Precision Orthopaedics approach, surgeons are better informed about patient-specific clinical challenges and are able to plan and implement a more precise reconstruction. Our personalized approach supports improved patient outcomes and experiences using the latest innovations in virtual surgical planning, 3D modeling and printing, implant design, and workflow optimization. More than 350 of the leading academic medical institutions in the US choose Onkos Surgical Precision Orthopaedics.
Forward Looking Statements
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "future," "believes," "expects," "may," "will," "should," "potential," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management's beliefs, assumptions and current expectations but are subject to known and unknown risks and uncertainties including, without limitation, market trends and demand. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results. The forward-looking statements included are made only as the date of this release. The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.
Zer0 to 5ive for Onkos Surgical
SVP, Commercial Operations
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SOURCE Onkos Surgical