Loci Orthopaedics, a Galway, Ireland-based orthopaedic medical device company, raised €12.8M in Series A funding.
The round was led by Seroba, Johnson & Johnson Innovation, JJDC, Inc., (JJDC) and the European Innovation Council (EIC) Fund.
The company intends to use the funds to augment the initial clinical investigation, which indicates positive preliminary results, and develop additional clinical data to support regulatory approval applications and future commercialisation in different geographies.
Founded by Mr Gerry Clarke and Dr Brendan Boland, Loci Orthopaedics is a concurrent spin-out from the University of Galway (Ireland), University College Cork (Ireland) and KU Leuven (Belgium) that develops orthopaedic technologies to meet major unmet clinical needs with a primary focus on the orthopaedics extremities market. It focuses on evidence-based design to ensure that its technologies are physiologically optimal to restore natural movement for clinical outcomes.
In October 2023, Loci Orthopaedics completed enrolment of a 15-patient clinical study for its InDx Implant System. The Thumb Hemi-Arthroplasty with Natural Kinematics study is designed to evaluate the surgical implantation of the device as well as improvements in pain, grip, and quality of life for those affected by thumb base joint arthritis. Results from the clinical study are expected to be published later this year.
Following the Series A financing, to date the company has raised over €22M in grant and equity financing.
FinSMEs
17/07/2024