OrthAlign raised US $10MM in a Series D financing round. Proceeds will support product development as OrthAlign expands its computer-assisted navigation platform from total knee into partial knee and total hip applications. Funds will also support hiring and commercial expansion in the U.S. and ex-U.S.
KneeAlign® received initial FDA 510(k) marketing clearance in 2009. Since then, it has been employed in >65,000 surgeries worldwide and was featured in over 15 peer-reviewed, published studies. The navigation platform operates 100% within the sterile field in the OR, and it offers an alternative to capital spend and recurring costs associated with large-console navigation/robotics systems. These benefits will be developed for UniAlign™ uni knee and HipAlign® hip applications. UniAlign launched in 1Q17, and HipAlign is in limited user release with full launch slated for 2018.
This financing round was led by existing investors River Cities Capital Funds, California Technology Ventures, Research Corporation Technologies and Mutual Capital Partners.
Sources: OrthAlign, Inc.; ORTHOWORLD Inc.