New Jersey-based Onkos Surgical®, whose goal is to solve seemingly impossible surgical problems like infection risk or failed orthopedic implants, has secured a $35 million venture loan facility from Horizon Technology Finance Corporation.
Horizon Technology Finance Corporation is an affiliate of Monroe Capital, an asset management firm. The finance company provides secured loans to venture capital-backed companies in select industries. Of the $35 million, $30 million has been initially funded.
Onkos Surgical develops solutions for complex orthopedic conditions. According to Onkos, its product portfolio serves “adult and pediatric patients who have bone loss from tumor, trauma, or revision of failed orthopaedic implants,” with a family of products including: ELEOS™ limb salvage system featuring BioGrip® technology; NanoCept™ antibacterial implant technology; JTS extendible prothesis; and My3D® personalized solutions.
Onkos Surgical CEO and Co-founder Patrick Treacy said, “We are committed to transforming the standard of care across complex orthopaedic procedures, with the goals of providing benefit to patients, clinicians, and health systems while creating value for our investors as we expand our footprint in a $3 billion market.”
Treacy continued, “Horizon’s support will further fuel our growth engine by accelerating the commercialization of NanoCept, a transformative and first-of-its-kind orthopaedic technology that has substantial potential to meaningfully improve patient outcomes.”
NanoCept is based on a proprietary coating. According to the press release, it is “used on FDA-granted orthopaedic implants to reduce bacterial contamination at the time of implantation.” Last year it was granted the “first-ever FDA De Novo authorization for an antibacterial coating technology used on orthopaedic implants.”
Horizon President Gerald A. Michaud said, “Onkos Surgical is disrupting the orthopaedic marketplace with a suite of differentiated products, including NanoCept.”
Michaud continued, “We are pleased to support the growth of Onkos as it continues to innovate novel solutions that address diverse unmet needs in a growing and important market segment.”
