Orthonika Secures Funding to Support Synthetic Meniscus Replacement

By Julie A. Vetalice

Orthonika closed a second round of investment of £0.7MM (~US $0.91MM). Funds will support development of MenisciKnit™, a novel synthetic total knee meniscus replacement, specifically biomechanical testing and a preclinical pilot trial.

Funding comprised contributions from angel investors, plus a Biomedical Catalyst award and an Industrial Challenge award.

Orthonika was spun from the Imperial College London in 2015, launched with an initial seed funding of £150,000.

Other technologies in the meniscal replacement market include Active Implants' NUsurface® polymer-based investigational treatment for persistent knee pain following medial meniscus surgery, Novopedics  Meniscofix™ and Stryker's FDA-approved CMI® collagen meniscus implant (acquired with purchase of Ivy Sports Medicine).

Sources: Orthonika Limited; ORTHOWORLD Inc.

Product Labels: Traditional Soft Tissue Repair

Tags: Funding