13 Apr NanoHive Medical, LLC Closes a Growth Financing Round
NanoHive Medical, LLC announced today that the company has closed on an oversubscribed Growth Financing round to support its product expansion and commercialization efforts. Outcome Capital served as the strategic and financial advisor for the transaction.
The use of proceeds will be dedicated to expanding the company’s innovative portfolio of distinct, 3D-printed Hive™ Soft Titanium® spinal interbody fusion devices, growth of commercial operations, and key personnel additions supporting rapid adoption.
“The company has made remarkable progress up to this point and has reached the stage where we are properly prepared to accelerate growth. This financing is an important step, allowing us to focus on swift and aggressive commercial execution of our interbody fusion devices based on our proprietary lattice design. This is the only portfolio of its kind offering a dynamic combination of biomechanical and biologic attributes designed to accelerate spinal fusion in a single package. The company is creating best-in-class devices that include independent endplates, biologics injection channels and compelling surface technology” said Patrick O’Donnell, President & Chief Executive Officer for NanoHive Medical.
In February, the company announced a strategic distribution partnership with Accelus to expand NanoHive’s commercial footprint into ambulatory care surgery centers that will augment the company’s other distribution channels selling into in-patient and out-patient facilities. NanoHive’s innovative portfolio uniquely combines the latest in 3D-printed manufacturing technology and titanium materials to address physicians’ continued search to optimize spinal fusion procedures and to promote accelerated recovery.
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About NanoHive Medical LLC
NanoHive Medical is a pioneer and leading innovator in 3D printed spinal interbody fusion implants and instrumentation. The company’s proprietary, biomimetic Soft Titanium® technology clearly distinguishes their products in the $1.9B spinal interbody fusion device market. The Hive™ portfolio of interbody fusion devices provide surgeons and their patients ideal biomechanical elastic modulus properties, clear and precise diagnostic imaging capability, osteoblast cell attraction and integration – all features that are designed to lead to consistently strong fusion constructs and efficacious clinical experiences. NanoHive Medical is located in Woburn, Massachusetts, U.S.A. Learn more at www.nanohive.com.
SOURCE: NanoHive Medical, April 12 2022