Orthox secures £3.2m extension to close its Series A round at £9.2m
The extension financing was led by Parkwalk to support clinical trials for the company's knee repair technology.
Orthox is an Oxford spinout developing natural biomaterial implants to repair damaged knee cartilage and orthopaedic injuries.
Orthox has raised £3.2m in an extension financing round, bringing its total Series A raise to £9.2m. The round was led by Parkwalk, with further participation from existing backers including Oxford Technology and Innovations EIS Fund and Perivoli Innovations, alongside new investor Additio Investment Group. The company will direct the capital towards advancing clinical trials of its lead product, FibroFix, at sites in Bristol and Budapest.
The Oxford spin-off produces silk-derived tissue scaffolds designed to replace damaged knee cartilage while allowing patient tissue to integrate with the device. Founded in 2008, the clinical-stage enterprise aims to provide a bone-sparing alternative to traditional total knee replacements, particularly for younger patients.
From the founder
"This $12.5m Series A financing round from a range of high-quality medtech investors reflects the strong progress we are making with our award-winning FibroFix product platform. FibroFix is unique in emulating the functional properties of cartilage while also facilitating rapid tissue regeneration in patients suffering the debilitating effects of serious knee cartilage injuries. With our approach, there is significant bone sparing and strong tissue integration of the implant, which will result in much faster patient recovery from surgery."
Nick Skaer
CEO at Orthox
Investor perspective
"We see tremendous potential in Orthox's product platform FibroFix to enable people with orthopaedic injuries to quickly bounce back into doing everyday life activities. Tissue regeneration to treat major cartilage defects is projected to be a $7bn market by 2024. We also see specific value in supporting athletes rapidly returning to form following sports injuries. Parkwalk is excited to be continuing our support for Orthox in this next stage of growth."
Neil Cameron
Investment Director, Parkwalk
Use of funds
- 01Fund the next phase of growth
Investors
Neil Cameron
Parkwalk
Oxford Technology and Innovations EIS Fund
Perivoli Innovations
Raj Airey
Additio Investment Group