Miach Orthopadics, a company that transforms the treatment of anterior cruciate (ACL) tear from reconstruction to restoration using the Bridge-Enhanced ACL Restoration Implant, announced the closing of a $40 Million financing round. The NFLPA was an investor in the round.
These funds will allow for continued operations and increase the U.S. commercial rollout of the BEAR Implant.
Endeavour Vision and Sectoral Asset Management are the lead investors. Existing investors include Smith+Nephew and DSM Venturing. The company also signed a $10,000,000 venture debt term sheet with Silicon Valley Bank, with the intention to close the loan as soon as possible after the Series B closing. Each sectoral and Endeavour company will be represented on the Miach board.
“Since launching our BEAR Implant in fall 2021, we’ve received tremendous interest from both surgeons and patients alike, who understand the benefits of healing a torn ACL rather than replacing it,” said Patrick McBrayer, president and CEO, Miach Orthopaedics. “More than 500 patients have been treated with the BEAR Implant commercially. This additional investment will allow us to expand our presence nationwide and bring the benefits of ACL restoration to more patients with ACL tears.”
The BEAR Implant is a bridge that allows the patient to repair their own ACL. It is the first medical technology to be clinically proven to allow the healing of a torn or damaged ACL. This is a paradigm shift in the current standard of care, which involves replacing the ACL with an ACL graft.
