Monogram Orthopedic, developer of personalised knee surgery robotic system, has secured 5,000 investors on crowdfunding platform StartEngine, as it aims to raise US$34m (£24.7m) to bring its technology to market.
The start-up is working to harness AI, robotics and 3D printing to personalise joint replacement surgery, and expects to submit its first total knee arthroplasty (TKA) implant to the FDA later this year.
Monogram Orthopedics’ proprietary approach to TKA surgeries aims to address major problems in joint replacement, including mechanical loosening, bone loss, dislocation, ease of revision and fracture. Using the Monogram software platform and product solution architecture, surgeons will be able to design optimised implants that improve stability and physiological loading.
“We started Monogram Orthopedics to build a completely different kind of orthopedics company, free of the constraints that many of the large companies face when trying to innovate,” said Doug Unis, chief medical officer at Monogram Orthopedics.
“We are poised to do what no other company has done in the total joint arthroplasty market before – harness technology to build truly personalised implants that fully tap into the power of intelligent robotics.”
The start-up’s crowdfunding campaign is currently underway on StartEngine to allow patients and caregivers to be active participants in the advancement of precision joint replacement surgeries.
To date, the company has raised over US$20m (£14.6m), the proceeds will help commercialise technology that meets the need for knee replacement technology which is well suited for active patient lifestyles, with minimised risk for additional surgeries down the line.
