Nanochon, a cultivate(MD) portfolio company developing an implant for treating articular cartilage defects in the knee, has secured commitments to close an oversubscribed funding round, bringing its total capital raised to date to $11.3 million.
The round was led by cultivate (MD), with significant contributions from The University of Virginia UVA Seed Fund, WSGR, Wealthing VC Fund, and others. While the majority of funding came from a strong group of current investors, several new individuals and funds were welcomed onto the cap table.
“cultivate(MD) Capital Funds is proud to have a significant portion of the oversubscribed Nanochon funding round. Making a follow on from our initial investment in 2023 was an easy decision as we continue to watch CEO, Ben Holmes, lead Nanochon with his forward planning and executional excellence.
The current round will not only support the first in human clinical trial in Canada as well as accelerate their manufacturing capabilities, but it will set the stage for a greater North American pivotal trial leading to FDA clearance.
In addition to making a revolutionary product in the cartilage regeneration space, Nanochon understands the value of preoperative planning and has launched a partnership with ProVoyance to develop a full MRI based preoperative surgical planning software tool.
The combination of a revolutionary product and best in class enabling software is positioning Nanochon to truly change the future for focal cartilage defects in the knee.”
- R. Sean Churchill, MD, MBA | Managing Director, cultivate(MD) Capital Funds
Nanochon intends to use the funds to sustain its first in-human clinical study in Canada, deepen research and development efforts, and begin planning for its future pivotal trial.
