Ossio, a medical device company with offices in Caesarea, Israel and Woburn, Massachusetts, recently announced a $22 million Series A venture investment round led by LA-based OCV Partners. This brings the company’s total venture funding to $35 million. This technology received FDA 510(k) clearance in January 2019.
Ossio has developed the OSSIOfiber Intelligent Bone Regeneration Technology, which provides a biocompatible framework for bone regeneration after traumatic fractures or orthopedic surgery. The platform is a bioabsorbable polymer resin (PLDLA) combined with natural mineral fibers, constructed in a sturdy matrix to maximize biomechanical properties. Unlike traditional metal screws, the OSSIOfiber technology promotes natural bone growth but is reabsorbed over time, leaving no permanent implant, and preventing the need for subsequent, hardware removal surgery. Full bio-integration of the OSSIOfiber platform takes place in 18-24 months.
The current standard for bony fixation of fractures or implants involves implantation of a bone graft as well as rigid fixation with a metal or hard plastic device. This foreign body insertion provides structural support during the bone healing phase, however, it poses a risk of infection for the patient. The advantage of a biocompatible, osteo-regenerative implant is its structural stability combined with a theoretical lower risk of infection. While the implants’ mechanical properties have been tested in animal studies, use of the implant in humans has yet to be reported.
While the current commercial technology is primarily targeted in foot and ankle surgeries, where hardware removal is common, the company plans to expand to other orthopedic markets, targeting the overall $10 billion orthopedic fixation market.
Here’s an Ossio video about its technology:
Link: Ossio homepage…
Via: OSSIO…
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