Fremont, California-based Moximed will use the proceeds from the financing to pursue regulatory approvals and establish commercial infrastructure for its Misha knee system — the world’s first implantable shock absorber (ISA) for the knee.
According to a news release, Advent Life Sciences led the funding round, while it also included returning investors New Enterprise Associates (NEA), Future Fund, Vertex Healthcare, Gilde Healthcare, GBS Venture Partners and Morgenthaler Ventures. Runway Growth Capital provided debt financing.
Moximed designed its Misha system for implantation during an outpatient procedure to help people with mild to moderate osteoarthritis preserve their knee joints while living active lives.
The system has demonstrated the ability to alleviate pain, improve function and p…