The extension financing was led by Parkwalk to support clinical trials for the company's knee repair technology.
"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."
The financing round was led by Vulpes Investment Management with backing from existing investors to fund first in-human data acquisition.
"The current device market for brain aneurysms is valued at well over $1bn and is growing rapidly year-on-year. One of the biggest challenges when it comes to treating neurovascular disease is having devices with high efficacy whilst minimising adverse events. Studies show that often multiple attempts are made to place treatment devices, as they often have challenges of landing accurately, opening and maintaining position. This can lead to adverse events and multiple devices being used. Procedures typically cost over $50,000 to treat a brain aneurysm and a next generation flow diverter overcoming unmet needs, offers the chance for more effective, safer and cost effective treatments as well as allowing many more patients to benefit. We plan to use this funding to bring Oxford Endovascular’s ground-breaking technology to the next stage and gain clinical data from human studies."
