ATRO Medical closed a Series A financing round for the development of a polymer based meniscus implant
17 July 2017, Nijmegen, The Netherlands – Today ATRO Medical announces the successful closure of a Series A financing round. The funding provided by a syndicate led by Thuja Capital Healthcare (Seed) Fund II and includes Brabant Development Agency, DSM Venturing, Cascara Ventures and Radboud university medical center.
ATRO Medical will use the new funding for the development and market registration of Trammpolin; an anatomically shaped Meniscus Implant. This investment will enable ATRO Medical to treat the first patients in 2018 and complete a First in Man clinical trial in 2019.
Osteoarthritis, resulting from the wear and damage of the articular cartilage, is a common disease affecting 10% of the men and 18% of the women globally according to the WHO. Osteoarthritis of the knee joint is a major cause of joint pain and reduced mobility of patients. The debilitating consequences of Osteoarthritis adversely effects a patient’s quality of life, ability to work and increases the cost of health care. Meniscus damage and wear are important causes of Osteoarthritis of the knee. The Trammpolin device intends to replace the damaged meniscus with an implantable prosthesis, with the aim of restoring the protective function of the meniscus by acting as a joint spacer. Trammpolin will become the first anatomically shaped polymer based meniscus implant. The device serves a market with over 1.000.000 clinical procedures a year in the US and EU, in which damaged meniscus tissue of the knee joint is removed. A large number of these patients will develop Osteoarthritis during the 10-20 year period following the removal of damaged meniscus tissue.
Co-founder and Chief Medical Officer Tony van Tienen, an accomplished orthopaedic surgeon, is excited about great potential for the pain reduction and mobility improvement in knee patients offered by Trammpolin. Osteoarthritis patients have no effective treatment options with the current health care offerings.
“ATRO Medical is addressing a large unmet medical need, as an increasing number of patients with knee injuries undergo meniscectomy (partial or total removal of the meniscus). These patients gradually develop osteoarthritis, resulting in pain and reduced mobility. Current treatment options for these patients are limited and have poor outcomes. Trammpolin aims to provide a cost-effective solution to reduce pain and restore mobility.”, commented Harrold van Barlingen, managing director of Thuja Capital.
ATRO Medical will be based in Pivot-park Oss, where the company will benefit from having the expertise and facilities of Radboudumc and DSM within close proximity throughout the development phase. Jan Hunik, co-founder and CEO is very pleased with this investment round and welcomes the boost at an early stage of the development. The funds raised will enable the company to treat first patients and demonstrate its potential to improve the quality of lives of osteoarthritis patients.
About ATRO Medical
ATRO Medical is a spin-out from DSM and Radboudumc and builds on the knowledge developed in the Public-Private Collaboration BioMedical Materials that started in 2010 with a consortium of universities, private companies and financial support from the Dutch government. The collaboration between the clinical, biomechanical and polymer expertise has created the base for the Trammpolin design and the development towards a prototype. More information can be found on www.atromedical.com.
Please note, Trammpolin is an investigational device in development and is not available for clinical use the coming years.