Hyalex Orthopaedics raised additional funding in expansion of its Series A, increasing from US $16MM to $33MM. The company is developing HYALEX™ synthetic polymer that is designed to mimic hyaline cartilage,
HYALEX material can maintain an extremely low wear profile, even at high loads such as those in human joints. Hyalex seeks to retain the joint's natural anatomy and replace only the lesions in the diseased portion of a joint.
The Series A was originally funded in 2017. In the increase, new investors Strategic Healthcare Investment Partners and DSM Venturing (venture arm of Royal DSM), joined existing investors Canaan, Osage University Partners and Johnson & Johnson Innovation – JJDC Inc.
Sources: Hyalex Orthopaedics; ORTHOWORLD Inc.