NanoHive Medical Closes a Growth Financing Round

NanoHive Medical 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 portfolio of distinct, 3D-printed Hive™ Soft Titanium® spinal interbody fusion devices, growth of commercial operations and key personnel additions supporting rapid adoption.

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 inpatient and out-patient facilities. NanoHive’s portfolio combines the latest in 3D-printed manufacturing technology and titanium materials to address physicians’ continued search to optimize spinal fusion procedures and promote accelerated recovery.

“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.

Source: NanoHive Medical