Formus Labs Fund Raise, Partnership with Zimmer Biomet

By Julie A. Vetalice

Formus Labs Fund Raise, Partnership with Zimmer Biomet

Formus Labs raised USD $5 million and marked the public launch of its orthopedic surgery planning solution which provides surgeons with insight into the pre-operation planning process. The company will use the funds to accelerate product development and its expansion into the U.S.

Formus Labs also announced its partnership with Zimmer Biomet for the co-development and commercialization of Formus Hip in Australia and New Zealand, as well as the investigation of international markets for global expansion.

The Formus platform is designed to fully automate the joint replacement planning process. It uses artificial intelligence and biomechanics to produce fully interactive 3D models to pinpoint the size and orientation required before a patient ever enters the operating room. It also allows surgeons to work on cases remotely at any hospital anywhere in the world, reducing patient wait times, improving overall workflow and creating better outcomes for patients.

With Formus Labs, a surgeon can get automated, specific plans that are personalized to each patient. The software is able to deliver plans in an hour and can be updated in real time, making same-day 3D planning a reality.

Formus Labs will launch the Hip product offering in Australia and New Zealand this month, to be followed by focused and strategic product evaluation in the U.S. after expected FDA approval in mid-2022.

"Everyone knows someone that has had a joint replacement, but few know just how complex, variable, and costly the process can be," said Dr. Ju Zhang, founder and CEO of Formus Labs. "Our goal is to make orthopedic surgery as simple as it can be by arming surgeons with the latest cutting-edge technology so every joint replacement has a Formus plan that reduces the need for revisions, instills confidence, and facilitates better outcomes for patients, at a lower cost."

Formus Labs has designed itself as the world's first automated 3D planner for joint replacement surgeries. The Formus cloud platform connects surgeons with AI and computational biomechanics to deliver orthopedic software solutions.

Source: Formus Labs

Product Labels: Surgical Planning

Tags: Funding