Ossio said today that it closed a $22 million equity round led by OCV Partners.
Existing investors Ortho Vision and Secocha Ventures also contributed to the orthopedic fixation company’s round.
The Woburn, Mass.-based company said it plans to use its new funds to “accelerate strategic growth initiatives,” such as new product development, commercialization and talent acquisition.
Ossio also reported that Zohar Loshitzer, principal at OCV Partners, will join Ossio’s board of directors in connection with the financing round.
Earlier this year, Ossio won 510(k) clearance from the FDA for its Ossiofiber Bone Pin portfolio.
“Following receipt of FDA clearance in January, we are moving forward with the commercial launch of Ossiofiber in the United States. This financing provides us with the necessary capital to accelerate our core strategic growth initiatives to ensure we have the inventory and support to meet the anticipated demand for the Ossiofiber technology,” CEO Brian Verrier said in prepared remarks.
“We are honored that OCV, Ortho Vision and Secocha Ventures, together with the rest of our strong group of investors, stand behind our breakthrough fixation technology and our overall vision to transform the orthopedic experience for patients, physicians and payors,” Verrier added.
“Ossio has created a novel bio-integrative fixation platform that we believe has the potential to disrupt the global orthopedic fixation market,” Mark Yung, co-founder & managing principal at OCV Partners said. “With its unparalleled bio-integrative platform and unique ability to address multiple surgical applications and segments, Ossiofiber Intelligent Bone Regeneration Technology offers a highly differentiated fixation approach that is stronger than bone and fully incorporates into the native anatomy, minimizing implant-related complications and the need for additional surgeries.”