Utrecht, The Netherlands – Gilde Healthcare Partners today announced an investment in Moximed® Inc (Hayward, CA, US), a developer of minimally invasive, joint preserving solutions for patients with knee osteoarthritis. Alongside Gilde Healthcare Partners, new investors Frazier Healthcare Ventures and GBS Venture Partners participated in a USD 43 million financing round. Current backers NEA and Morgenthaler Ventures also participated.
“We have followed Moximed for some time and believe that the timing is right to invest, since the company has demonstrated promising clinical data and is on the verge of commercializing the KineSpring® Knee Implant System in Europe”
said Arthur Franken of Gilde Healthcare Partners.
As part of the financing, Arthur Franken from Gilde Healthcare Partners will join the Moximed Board of Directors.
Moximed® Inc. based in Hayward (CA, US), is dedicated to improving the standard of care for patients with osteoarthritis (OA). OA, the most common form of arthritis, leads to a breakdown of the joint’s cartilage and often results in joint pain and loss of motion. OA commonly affects the knees, hips, hands, or back. Moximed is initially focused on developing minimally invasive, joint preserving solutions for patients with knee osteoarthritis.
Moximed’s lead product, the KineSpring® Knee Implant System, is targeting a gap in the current OA continuum of care. There is a void between conservative care, such as pain medication and knee braces, and more invasive, joint-modifying procedures, such as osteotomy or joint replacement. Many patients with moderate to severe knee OA, who are not candidates for joint replacement surgery due to age or activity levels, suffer from pain and a decreased quality of life until they become candidates for joint replacement. The KineSpring® System was designed to offer some of these patients a minimally invasive, joint preserving treatment option. For more information please visit the website at www.moximed.com
About Gilde Healthcare Partners
Netherlands-based Gilde Healthcare Partners is a transatlantic venture and growth capital firm focused on private healthcare technologies and services. It has over €400 million under management and is actively looking to lead new investments in therapeutics, diagnostics, medical devices and services. Gilde successfully builds healthcare businesses across Europe and US, investing up to €15 million in a single portfolio company. By investing in companies with clear, achievable business models, Gilde has used its financial resources and network to create significant value for both its investors and the entrepreneurs it backs. For a list of Gilde’s portfolio companies please visit the website at www.gildehealthcare.nl.
Gilde Healthcare II is supported by the European Communities Growth and Employment Initiative, MAP – ETF Start up Facility.