Michael Barbella, Managing Editor06.11.24
Nanochon's fiscal health is considerably more stable these days, thanks to a $4 million series seed prime fundraising round.
The round was led by The University of Virginia Licensing and Ventures Group Seed Fund, with participation from Cultivate (MD), Alumni Venture Group, and Mountain State Capital, among others.
Nanochon plans to use the funds to begin its first in human clinical trials this year in the United States, deepen research and development efforts, expand the company’s patent profile, and grow its team.
“We’re thrilled to close our funding round and begin our clinical program,” Nanochon Co-Founder/CEO Ben Holmes said. “Securing this funding is one step closer towards achieving Nanochon’s goals of eliminating the need for knee replacements, and greatly shifting the paradigm of arthritic joint care.”
Nanochon's phase I trial will analyze the efficacy of its Chondrograft patented knee implant. The device regrows damaged cartilage and bone in an effort to avoid costly full knee replacements, which often have a long recovery time.
“We’ve had fantastic success in our animal studies and we’re very optimistic about future implications in human knees and other joints,” Holmes added.
Nanochon is a Washington, D.C.-based biotech and medical device company developing orthopedic solutions. Chondrograft is a minimally-invasive implant that allows for immediate weight-bearing and motion. The company aims to develop a new approach to treat cartilage replacement and repair so young, active patients with joint damage can return to their lifestyles without undergoing costly and invasive short-term fixes.
The round was led by The University of Virginia Licensing and Ventures Group Seed Fund, with participation from Cultivate (MD), Alumni Venture Group, and Mountain State Capital, among others.
Nanochon plans to use the funds to begin its first in human clinical trials this year in the United States, deepen research and development efforts, expand the company’s patent profile, and grow its team.
“We’re thrilled to close our funding round and begin our clinical program,” Nanochon Co-Founder/CEO Ben Holmes said. “Securing this funding is one step closer towards achieving Nanochon’s goals of eliminating the need for knee replacements, and greatly shifting the paradigm of arthritic joint care.”
Nanochon's phase I trial will analyze the efficacy of its Chondrograft patented knee implant. The device regrows damaged cartilage and bone in an effort to avoid costly full knee replacements, which often have a long recovery time.
“We’ve had fantastic success in our animal studies and we’re very optimistic about future implications in human knees and other joints,” Holmes added.
Nanochon is a Washington, D.C.-based biotech and medical device company developing orthopedic solutions. Chondrograft is a minimally-invasive implant that allows for immediate weight-bearing and motion. The company aims to develop a new approach to treat cartilage replacement and repair so young, active patients with joint damage can return to their lifestyles without undergoing costly and invasive short-term fixes.