Release date: 2017-04-24
Recently, Onkos Surgical received $17.6 million in Series B financing, led by Canaan Partners, 3D systems and 1315 Capital. Founded in 2015 and headquartered in Parsippany, New Jersey, Onkos Surgical specializes in orthopaedic oncology research, providing oncologists with new technologies and solutions to penetrate orthopedic medical devices led by industry giants such as Stryker and Biomet. market.
The company has been working to address the loosening of implants and the body, and this round of financing will use new funds to expand its sales, marketing and R&D platforms. The team is applying for approval from the regulatory authorities and is expected to expand into Western Europe and Australia in 2018.
Solve the problem of loose connection between bone implant and body
Onkos focuses on orthopedic orthopedic oncology research. This has become an abandoned area due to the rapid increase in demand for age-related orthopaedic products and the entry of innovative technologies such as robots.
What problems does Onkos Surgical solve? When a tumor or hyperplastic tissue on a bone is removed, a highly customized implant is typically required to replace the missing portion. In the past, these techniques came from other areas of orthopedics research, but there were still infection problems, implants reattaching soft tissues such as tendons and ligaments, so-called aseptic loosening, loose implants but no infection. In other words, Onkos has been working to solve the problem of loose connection between the implant and the body.
The company's products include the ELEOSTM Limb Rescue System, My3DTM Technology and GenVie. The ELEOSTM Limb Rescue System helps patients who require radical resection and replacement of the femoral condyle to design a surgical plan that accurately calculates how many implants are needed and verifies biomechanical stability, reducing instability and implant dislocation. The system is simple to operate and provides design features.
My3DTM technology helps companies develop personalized implants, medical devices and anatomical models for different patients. CT scans are performed with a high quality image processor to create a 3D computer model of hard and soft (tumor) tissue. The surgeon then works with a technical expert to design a surgical plan based on the model to improve the efficacy of the individual patient.
GenVie provides focus and innovation for musculoskeletology. Bioproducts that develop soft tissue and skeletal oncology applications, complications such as wound closure, bone regeneration, and neurological and soft tissue challenges often require biologic adjuvants to improve healing.
Not afraid of Stryker and Biomet industry giants
In this area, industry giants Stryker and Biomet dominate, Andkos co-founder and CEO Patrick Treacy said: "Onkos did not develop robotics, only for the treatment of an arm or a leg."
Treacy said: "We call the business we are creating a specialist medical technology model. The team has added some innovations to the original products, and through a strong sales model and a series of additional services, Onkos has injected new life into the old equipment. To make our capital highly efficient, we can modernize these products through product upgrades and get rapid development."
To contact a plastic oncologist, Onkos has deployed a hybrid sales team and signed a distribution agreement with Vivex Biomedical. This can promote the development of both sides. Specialist pharmaceutical startups are also committed to innovation while introducing existing technology platforms. Treacy said that through communication, the surgeon has mentioned three specific needs for the team.
In addition, Onkos Surgical announced two new important partners, the Society for Bone and Soft Tissue Oncology (MSTS) and the PatientIQ, a technology company for medical data research and analysis.
By sponsoring MSTS, Onkos Surgical is closer to key opinion leaders and can learn more about current clinical challenges and get feedback on technology applications. In collaboration with PatientIQ, a clinical data collection platform for surgical tumor patients was launched. The patient is registered on the platform and the system collects patient treatment effect data. The platform will create a safe environment for surgeons and patients to assist with clinical data and help test the progress of treatment for this challenging patient population.
Although the application depth of Onkos products has also improved. For example, the ELEOS limb salvage system, which aims to replace the bone loss by removing cancerous growth, is also used to repair the hip joint or for knee arthroplasty, or for post-injury reconstruction surgery for destructive trauma of the fracture site. . Onkos' short-term goal is to become a leading orthopaedic oncology company. In the long run, Onkos hopes to make greater progress and counter the industry giants.
Source: Arterial Network
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