A medical device startup developing novel technologies to solve unresolved challenges in orthopaedic care, Loci Orthopaedics Ltd has secured €12.8 million ($13.9 million) in an oversubscribed Series A round.
As announced by the company, the latest capital will be used to augment its initial clinical investigation for regulatory approval and advance its InDx Implant System to clinical validation and commercialization.
Co-founded in 2017 by Dr. Brendan Boland and Gerry Clarke, the company received significant investments in its initial funding rounds. The latest round was spearheaded by Seroba, with support from other investors, including Johnson & Johnson Innovation JJDC, Inc. (JJDC) and the European Innovation Council (EIC) Fund.
Loci Orthopaedics’ series A financing underscores investors’ confidence in the startup’s mission to develop novel technologies to solve pre-existing challenges in orthopaedic extremities.
Orthopaedic Implant System
Loci Orthopaedics has developed a science-backed innovative device known as the InDx Implant System to help deal with thumb base joint arthritis, a prevalent condition affecting about 5% of people in the United States and EU and about 100 million people globally.
InDx Implant System is specifically designed to mimic the functional movements of a human base joint, restoring natural motion for individuals struggling with the painful and disabling orthopaedic condition.
The device’s novel design can help address common challenges associated with the existing implants, which are prone to movement, and dislocation after implantation.
According to Barry Russell, CEO, the funds raised in the just-concluded funding round will help Loci Orthopaedics deliver new solutions to the market to help underserved patients and surgeons with innovative joint spring therapy.
